The Title Insurance and Trust Company began business 1893 and has since endured an evolution of gigantic measure. Over the last century alone, it has been witness to the birth of title insurance in America and the growth of a burgeoning industry that is stretched to epic proportions at present.

Originally based in California, the TITC began being called the TI Corporation of California and then this was removed to be replaced by the name TICOR.

This corporation was instrumental in the urban development of California in its beginnings, and appears to have consistently enjoyed the acquiescence and tacit approval of government in the delivering of its services to the American community.

On March 8 1991, the Ticor Title chain of companies were acquired by Chicago Title and Trust Company, and in turn, the Fidelity National Title Corporation acquired Chicago Title and Trust Co. in 1999. With these corporate acquisitions Fidelity National became the world’s largest title insurance organization.

Since then, Fidelity National (also known as FNF) through its subsidiary Micro General has financed a new intermediary company known as Escrow.com, which provides online escrow services to sponsor the assurance of property settlements.

Takeover by Fidelity

Ticor Title insurance, as it is referred to these days, has more than $940 million in cash reserves, and is consistently a rated with an ‘A’ rating with Standard & Poors, and Moody’s ratings agencies.

Its parent company, Fidelity National, is No.248 on the Fortune 500 list of companies and is arguable one of the best most efficiently run companies in the world.

While the underwriting market has a large profit margin, leaders in market share routinely allocate large amounts of resources into the future of their organizations and the future provision of their income.

For this reason, Ticor have been leaders in the field of automated underwriting techniques and have invested heavily into software development to this end Along with promoting a greater market hare f the title insurance industry, this kind of ambitious enterprise serves to enforce the principles of preventative action that is the foundation a title insurance company is built upon.

In essence this type of technology holds the promise of maintaining an entire title registry, to the envy of government authorities, a task which the public title registrations office would welcome if it were an affordable alternative to the current registration of deeds and it didn’t compromise the rights of the consumer of title insurance.

This initiative could one day see the privatization of the registering of property titles, or the transformation of the Fidelity National Group into an office of the executive government.

Apart from being environmentally friendly in drastically reducing paper consumption, enormous utility is to be found in the reduction of employment costs due to the efficiency and reliability of automated systems.

The Fidelity National Title Group of which Ticor is a part provides title and escrow services in 49 states and offshore. State of the art research facilities are available to the Fidelity Group, and this asset alone is indispensible when considered with the preventative nature of their business.

Indeed the Title Insurance and Trust Company that held California’s hand during its infancy, has grown into a large tree and the birds of the air certainly do seek to shelter within its branches.

Resources:

http://www.allbusiness.com/operations/facilities-commercial-real-estate/4405925-1.html

http://www.housingwire.com/2008/08/29/fitch-warns-on-fidelity-national-downgrades-other-title-insurers/

http://www.nytimes.com/2005/02/23/business/23title.html