Key Takeaways
- Owner's title insurance protected the investor from $27K+ in losses for a $425 premium.
- Title claims take 6-18 months to resolve through investigation, defense, negotiation, and settlement.
- Always obtain owner's title insurance—even for cash purchases where lender policies are not required.
- File claims promptly and cooperate fully with the insurer's investigation for the best outcome.
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Test Your Knowledge
1.What is operational risk?
2.What is a risk register?
3.What is the Recovery Time Objective (RTO)?