George, I have been involved with companies which went under due to non-issuance/non-remmitance of the policy/underwrtier premium. There certainly is a need for it. Typically, for a number of title companies, once the closing has occured and the monies have been funded and disbursed, the title company followt-hrough is poor on policy issuance. Hey, they generated revenue, now where can we get more. We will worry about the policy later. Well, later comes sooner that they think.
With title agencies who have issues with policy backlogs, I'd first consider whether they have remitted the underwriter their premium. If the agent has a backlog in underwriter remittances, then I'd be wary as to whether they would pay your firm for your service once you've "solved" their problem. Usually, underwriters like to get their portion of the premium in a timely manner and expect that the policy be issued at the same time. I would pitch this service to the Underwriters. They may be able to cover this cost if the agent does not have the money. The Underwriter is the ultimate one on the "Hook" for the policy anyway.
Here in Texas, the Department of Insurance has a requirement that the policy be issued within 45 days of the end of the month in which the disbursement took place. If this is not done and this is found in a audit, that agency will suffer the consequences of the TX DOI.
Hope this helps.
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