Does an agreement between a title agent and a title insurer need to be in writing?

An agreement between a title agent and a title insurer must indeed be in writing to ensure clarity and legal enforceability. This requirement helps establish a clear record of the terms and expectations governing their relationship and the responsibilities of each party. Written agreements mitigate the risk of disputes regarding the duties, compensation, and authority of the title agent, providing a tangible reference that can be consulted in case of disagreements or misunderstandings. Additionally, compliance with specific regulations and industry standards often necessitates written documentation to protect both parties' interests and ensure adherence to state laws governing title insurance practices. This necessity is crucial in maintaining professionalism within the title industry and fostering trust between title agents and insurers.