True to the nature of its business, they have persevered with the goal of resolving disputes to title before they occur, and so have developed state of the art software models that interact with every facet of their operation.

Although a costly investment, this type of initiative driven approach to underwriting title insurance is one that consistently allows them to share a large portion of the title insurance market, based on quality service and professional expertise that remains unchallenged.

History

C.E. Parke, a local businessman in Orange County California, formed First American Title Insurance in 1889. The company remained on a steady course and within the family control. In 1948 the grandson of C.E Parker joined the company and Donald Kennedy extended the provision of its services to other states.

In 1964 First American was listed on Wall Street and by 1982 was servicing the entire country.

Since the company has diversified into various related industries, and is able to offer these services to its clients with efficiency and expedience.
First American is a leader in market analysis and is called upon for its vast resources and knowledge in this field.

The sheer state of the art infrastructure that has been the back bone of First American’s data provision services continues to lead the company into the next millennium as a service provider in the title insurance industry that is unparalleled.

Today First American has expanded its operations into over 70 different countries around the world, and has been the pioneer of title insurance within countries that have remained ignorant of the device of title insurance until their emergence.

Notably, foreign governments have sought the skill and expertise of these foundational title insurers in order to legislate effectively in their respective jurisdictions and safeguard the property rights of their citizens.

The anticipation of the markets future needs and the provision of these services is most certainly one of the invaluable weapons in the First American arsenal.

Aside from a sea of accolades within the industry for proficiency, its focus on preventative measures in title insurance continues to serve First American as if it were the insurer’s insurance policy.

In 2007 First American retained 30% of the title insurance market share, and together with its arch rival Fidelity National Financial, enjoys a massive 56% of the market.

Clearly, it appears to be innovation and a commitment to the development of new technologies and procedures that has seen the advancement of First American. Electronic commercial transactions have increased exponentially and First National has been at the forefront of such advancement.

As an underwriter for its peers within the industry, First American is certain to continue to lead the title insurance industry for years to come. The recognition it receives overseas for its landmark achievements in various countries only serves to underpin its impeccable reputation at home in the United States of America.

Resources:

http://www.firstam.com/

http://www.austlii.edu.au/au/journals/QUTLJJ/2003/9.html

http://www.alta.org/industry/financial.cfm.