Can you spot when you’re being phished? One of the first steps is fully understanding what phishing is. Unfortunately, it’s not as fun as heading to the stream with your waders. Phishing can take place via phone call, text, or email, but the latter is the most common place. The attacker will pose as a legitimate institution in an attempt to get secure information from their target. Some examples include those spam calls you receive from the “IRS” robot asking for your social security number.
Over email, things can get a little bit more malicious. It’s common sense to know that an unsolicited robotic voice asking for your social security number isn’t legitimate. However, what happens when you receive an email with a link that you wouldn’t usually give a second glance to? Cyber attackers rely on that lack of attention to target vulnerable users. Here are some ways to tell if the email you’ve received is a phishing email:
Remember that if it seems too good to be true, it probably is. Those flashy designs advertising expensive items for free could (and in all likelihood will) result in identity theft.
Be mindful of emails from unknown senders insisting that you act urgently. The attacker is trying to pressure you into acting without thinking.
Watch out for unknown hyperlinks and attachments. They’ve gained popularity over recent years. They avoid giving you all the details in the email to avoid looking immediately suspicious and urge you to click on the link for more information. Never click on a link from an unknown or untrustworthy sender.
All of that might seem like a lot, but knowing what to look out for is the first step in protecting yourself from cyber-attacks. After a while it will all become like second nature. There are also plenty of other preventative steps that you can take to ensure that you and your inbox are protected.
Spam filters can go a long way toward stopping malicious content from getting to your inbox at all, and you can update your browser’s security settings to block fraudulent websites from opening at all. Setting up two-factor authentication with your financial institutions and any website where your bank data may be stored can help protect you as well.
Jigsaw and Google have partnered to keep an up-to-date phishing quiz to see if you’re ready to identify phishing attempts that may come your way. You can take it here.
You can’t go wrong being educated, prepared, and mindful.
When writing about quality commitments we have two main goals: quality and excellence. Basically, we want to be sure we are producing superior commitments and policies.
But who decides whether or not we’ve attained these goals? The first answer is our underwriters. They’ll be looking to ensure that the quality commitment is written in a clear and unambiguous fashion so that all parties involved can easily see what’s covered by the policy and what isn’t.
Next up are the regulators. In my state of Texas, everything surrounding title insurance is regulated by the state, and the Texas Department of Insurance (TDI) routinely runs quality checks during audits.
However, our customers are the ultimate and most important judge of any of our business dealings, and it is up to us to ensure that the commitment for title insurance makes them feel reassured and enlightened rather than frustrated and confused. Buyers and lenders are looking for exceptions in a language that’s easy to understand, while owners want the language for requirements to be the clearest.
Let’s break down a commitment for title insurance. This step in the process comes after the receipt of a bona fide order and must be completed as soon as possible. The exception is when the company is unwilling to insure said order. In the event that the commitment is issued, liability and obligations end ninety days after the commitment’s start date.
When selecting the words to include in a commitment, it’s important to understand the distinction between language describing the insured land and language described as an exception from coverage. When describing an easement estate on Schedule A, we want the description to be as detailed as possible, because that limits liability. When describing an easement on Schedule B, we want to be as general as possible, because we limit our liability.
Requirements appear on Schedule C of commitments – and do not appear on policies. “Requirements” in this case reference items that must be resolved to the satisfaction of the underwriter before the policy can be issued. There may be instances when it’s necessary to tell a proposed insured something about the policy that will be issued. While there’s no standard way to give this type of information, the best practice would be to add a “note” – containing information. Remember, these “notes” are only used to include additional information about policies and never to provide information about the status of the title.
There are things that don’t belong on commitments. Some examples would be “affirmative” statements about what was found during the title search, instructions about how closing or escrow should be handled, information about transactions or policies outside of the outlined requirements, or details advising the insured about “rights of parties in possession” or amendments of the “area and boundary exception.”
With all of this information in mind, the question still remains: How do we achieve quality commitments and policies? The first step is education. Everyone in the organization must have appropriate training in the use of the escrow/closing and title production system(s). It’s critically important for each person to understand how the data they input is utilized by each process. The next step is the natural progression into preparation. Prep for quality starts with the setup process of the escrow/closing and the title production system.
At the end of the day, it’s about remaining mindful of the parties who will be reading your report or commitment and what it is they mean to do with it. If you go into the commitment process with that in mind and remain armed with the information you’ve gathered, you’re headed in the right direction.
Be educated in the process, be prepared for what you’re about to do, and be mindful of our clients and you can’t go wrong. If you would like to learn more about writing quality commitments, log onto our Alliant National Agent Resource Center and check out our Resource Center tab to view our new webinar on the topic.