How do you start a title insurance company in New York City?

Answer 1

First and foremost you need money - anywhere from one hundred thousand dollars to two hundred thousand dollars. But more than money you need to have a cliental follow you to your new company for immediate business. Starting with no clients and even hiring the best of salesman, you are doomed . Next you must have a title officer who knows the ins and outs of the business and title insurance law. I don't mean 90% knowledge, I mean 100% knowledge. Another title officer is helpful, along with at least 3 to 5 secretaries designated to ascertain facts of the business. It is very important to have 1 to 5 underwriters for your business with the premium split discussed, and worked out and settled monthly. There are a few other minor things but without some good real estate attorneys directing you business, forget about it. Unless you have some in with a major bank directing you work. And remember, I have seen large accounts go faster than they came because of a political reason, which may be unbeknownst to you and not your fault.