Key Takeaways
- Loss prevention programs reduce claims rates by 30-50% and are far more cost-effective than claims payment.
- Internal controls costing $20,000-$40,000 annually prevent regulatory violations that could cost hundreds of thousands.
- Independent title companies differentiate through speed, technology, specialization, service quality, and education.
- Every crisis should result in permanent systemic improvements—the CONTAIN-COMMUNICATE-CORRECT framework guides the response.
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Test Your Knowledge
1.What is the FBI-reported fund recovery rate for wire fraud when reported within 24 hours?
2.At what valuation multiple are title company acquisitions typically priced?
3.What percentage of title orders do the top 20% of referral sources typically generate?