How do you start a title insurance company in Florida?

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.

Answer 2

Step 1. Create a business entity. * Create Organizational Documents for a Sole Proprietorship, Partnership, Corporation, or Limited Liability Company * File appropriate forms with the Federal Government/IRS, and the Florida Department of State Step 2. Obtain a Title Agency License package from the Florida Department of Insurance: Bureau of Agent & Agency Licensing, 200 E. Gaines Street, Ground Floor, Lawson Bldg., Tallahassee, Fl. 33299. www.fldfs.com. 850 922-3137 * Complete the Department's Title Agency Insurance License Application Form Information Requested on the Form: 1.) Federal Identification Number, Name, Address, and Telephone Number of the Business Entity to be licensed. 2) Names of each majority owner, partner, officer, and/or director of the entity. 3) The location of each office of the entity and the names(s) of each office manager * Complete Fingerprint Card � one card per insurance agent or representative * Obtain $35,000 Surety Bond, with Power of Attorney * Send $15.00 License Application Fees, $64.00 for each fingerprint card, and proof of surety bond, with completed License Application Form, to the: Florida Department of Insurance, Bureau of Agent and Agency Licensing, Revenue Processing Section, Post Office Box 6000, Tallahassee, FL 32314-6000 Step 3. Obtain Appointment of Licensed Title Agency from AN UNDERWRITTER (Insurer) * Complete Insurer's Appointment Application Form * Complete Insurer's Authorized Signatory Application Form and other required forms. NOTE: Only an attorney licensed by the Florida Bar or an individual licensed as a Title Agent by the Florida Department of Insurance may act as an Authorized Signatory for an Insurer in Florida. * Sign, but do not date Insurer�s Agency Contract * Send completed forms, signed contract, and copies of E & O insurance ($250,000 minimum) and Fidelity Bond or Employee Dishonesty Coverage ($50,000 minimum) to Insurer. Also required is $62.10 for the Agency and $62.10 for each Licensed Title agent. One check may be submitted. These fees are exempt for attorneys. Additional information that may be requested: Corporate Affidavit, Financial Statements, Escrow Account Information, Letters of Reference, Resumes of Key Employees and a 3-5 year Business Plan. YOU WILL NEED EITHER A BUSINESS ATTORNEY OR BUSINESS CONSULTANT. Here's more input from other WikiAnswers Contributors: * The way I did it in Texas was go to the local comtrollers office (taxing authority) and they will guide you trough what you are looking for. Whether a sole propriatership, a llc, a llp or a corporation. in short they should have all information you are looking for.

Answer 3

I recently opened a title company in Oklahoma. What kind of information are you looking for?