Five title underwriters have formed a reinsurance alliance with Lloyd's of London.
The American Title Reinsurance Alliance was formed to ensure that the participating companies have a secure source of reinsurance for large transactions.
The participating title underwriters are Agents National Title Insurance Company, Missouri; Alliant National Title Insurance Company, Colorado; Attorneys' Title Guaranty Fund of Colorado, Colorado; Connecticut Attorneys Title Insurance Company, Connecticut; and Security Title Guarantee Corporation of Baltimore, Maryland.
Rich Patterson, president of Connecticut Attorneys Title Insurance Company, said: "This programme enhances our ability to insure large transactions while reducing our exposure to loss."
"In addition, it allows us to obtain reinsurance on very favorable terms. This will enable us to be more competitive for multi-million dollar transactions."
Demotech president Joseph Petrelli said: "Lloyd's of London has a legendary track record of backing up its promises. Members of ATRA will likely pass our reinsurance review with flying colours."
