Posts Tagged ‘Westcor’

Financial Stability Rating® of A’ (A Prime), Unsurpassed, Assigned to Westcor Land Title Insurance Company Affirmed by Demotech, Inc.

Friday, September 28th, 2012

fsr_apColumbus, Ohio, September 13, 2012: The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Westcor Land Title Insurance Company has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess unsurpassed financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.

FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC).

About Westcor Land Title Insurance Company

Westcor Land Title Insurance Company (WLTC) is a national Title insurance underwriter dedicated to the support and development of Strategic Regional Agents. WLTC’s only purpose is to insure the continued autonomy and success of their family of independent Title agents. WLTC continues to expand nationally as agents across the country join their family, recognizing their commitment to their unique value in local markets and communities. Coast-to-coast, their agents and industry partners recognize WLTC as a source of local market experience and expertise. WLTC’s team of seasoned Title professionals is recognized as industry leaders in providing value-added solutions. Visit www.wltic.com for more information.

About Demotech, Inc.

Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech has been serving the insurance industry by providing accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. FSRs are a leading indicator of the financial stability of a company. Our rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis firm, Demotech has a proven track record of predicting financial stability in the insurance industry and has been leveling the playing field by offering FSRs to insurers of all sizes.

View the Original Article Here:  http://news.demotech.com/fsr_notifications/fsr_notification_50050/

Visit www.demotech.com for more information.

Westcor Adds SVP of National Lender Services

Monday, August 20th, 2012

1295441_36033016Winter Park, FL, August 20, 2012 – Westcor Land Title Insurance Company (Westcor), today announced C.C. Kaplan, has joined the company as Senior Vice President of the newly formed National Lender Services division. This group was created to merge the strength of Westcor as a national underwriter with the expertise of its local agents, delivering consistently excellent services to the lender community.

 

For the past 15 years Ms Kaplan has been with LandSafe Title, most recently as Senior Vice President/Group Operations Manager where she expanded her expertise in product development, strategic planning, and workflow and procedure development. She is originally from Floral Park, New York and attended the University of Florida.

“We are thrilled to have C.C. join our Westcor family,” said Mary O’Donnell, president and CEO. “C.C.’s experience in understanding the needs of the national lender market is unparalleled, as is her ability to create and deliver the services they require.”

About Westcor Land Title Insurance Company Westcor Land Title Insurance Company, a Florida-based company, is the only national title insurance underwriter dedicated to the support and development of local, regional and national agents. Founded in 1993, the company has recognized a nearly 200% increase in premiums written over the last five years as continued underwriter consolidation has driven the need for independent agent support. Westcor is currently licensed in 40 States and the District of Columbia.

Westcor continues to expand locally and nationally as agents recognize our commitment to their unique value in both local markets and communities, and in the national marketplace. Coast-to-coast, our agents and the title insurance industry recognize Westcor as a source of local and national market experience and expertise. Our team of seasoned title professionals is recognized as industry leaders in providing value-added solutions to our agents and policy holders.

Susan L. Pelham

 

eLynx Adds Westcor Land Title Insurance to eCN

Monday, March 28th, 2011

eLynxCINCINNATI – March 28, 2011 – eLynx, a portfolio company of American Capital (NASDAQ: ACAS), today announced that Westcor Land Title Insurance Company is the latest title underwriter to fully integrate its operations with the company’s electronic closing network (eCN) and with the option of providing their lender customers with electronic closing protection letters. Westcor now joins four of the nation’s largest title underwriters in having a direct connection and seamless integration with eCN. This integration gives lenders instant verification of authorized settlement agents and earlier notification of pending insured transactions.

“We welcome Westcor into our network with the confidence that our common lender customers will benefit,” said Sharon Matthews, eLynx president and CEO. “eLynx provides significant workflow benefits to underwriters like Westcor, making it easier for them to serve their lender customers efficiently and with the assurance of a significantly lower risk of mortgage fraud. We’re the only company actively managing settlement agent fraud, a very real risk to lenders.”

When settlement agent fraud occurs, lenders lose millions. Lenders are increasingly impacted by these crimes and are finding that these criminals have not been easily exposed in the past. eCN can identify the potential crime before the loan is closed thereby protecting both the lender and the underwriter.

“With eCN, eLynx has become the industry’s enabler of a compliance-based closing process that minimizes the risk of fraud,” said Mary O’Donnell, president and CEO of Westcor Land Title Insurance. “eCN provides our company with a neutral, streamlined connection to all of the other parties in the transaction. We believe our relationship with elynx will enable us and our policy issuing agents to provide best-in-class service to our lender customers.”

eCN has rapidly gained industry acceptance, processing more than 1 million loans in its first year. There are approximately 100,000 settlement agents registered to use the system. Currently, more than 80% of all eCN loan traffic benefits from a direct integration with an insuring title underwriter, making it significantly easier for lenders to reconcile the data and documents used in an end-to-end electronic loan process.

Westcor Adds Two Key Members to its Legal Department

Thursday, December 16th, 2010

 

Legal-TeamWinter Park, FL, December 16, 2010

Westcor Land Title Insurance Company (Westcor), today announced the addition of Roger Therien, formerly of Fidelity National, as Southwest Regional Counsel.  “Roger will provide support to our California and Arizona agents,” said Scott Chandler, vice president, Western Regional Manager. “Roger’s history of providing best-in-class service to agents is an ideal complement to our national growth.”

Also announced is the addition of Jim Kletke as ‘of Counsel’ to the corporate team.  Jim will provide underwriting assistance in Maryland, Texas, and on a national basis, support of multi-state agents.  “Jim’s vast experience in growing an agency-based underwriter around the country is an invaluable addition to the team.  Jim will also provide assistance and advice to the management team as we continue to strategically build the Westcor footprint across the country,” said Mary O’Donnell, president and CEO.

“We welcome our new team members and believe these key hires will further enhance our mission to provide unparalleled agency support.”


Westcor Land Title’s National Growth Continues in New Jersey

Wednesday, August 18th, 2010

1295441_36033016Winter Park, FL – August 17, 2010 Westcor Land Title Insurance Company (Westcor) announces the opening of new agency operations in Red Bank, New Jersey. The latest opening adds to their national plan of organic expansion from coast-to-coast. The new office represents the fourth market expansion in twelve months and is evidence of the title agents preference for an alternative agent-centric partner.

Susan Wenzel, formerly with First American will lead the team as the state agency manager. Susan comes to Westcor with over thirty years of experience. Accompanying her is Scott Sumner, formerly with Chicago Title who will serve as state counsel. Joining the team from Fidelity National is Chris Marra as the New Jersey operations manager and Susan Ney as the office administrator. All with many years of title industry experience.

“Westcor is known for their consistent best-in-class service and agent support. This is a refreshing welcome to independent agents in New Jersey,” explains Susan Wenzel. “We look forward to introducing the standard-of-excellence and reliability associated with the Westcor name to title agents and the customers we serve. “In times of uncertainty, consistent quality and support instills confidence and provides security; Westcor understands the meaning of a true partnership.”

Westcor’s steady cycle of national growth and new hires are matched with financial strength. Westcor’s consistent quality balanced with financial stability is why Westcor Land Title Insurance Co. is recognized as the fastest growing title insurance company in the United States.

“Our ability to reach new markets and grow our company is indicative of the quality of Westcor’s selected title agents and new hires,” states Mary O’Donnell, president and chief executive officer of Westcor Land Title Insurance Co. “Our people are extensions of the standard of excellence associated with the Westcor name.”

Westcor Announces New England Agency Operations

Tuesday, July 20th, 2010

New England AnnouncementWinter Park, FL—July 20, 2010

Westcor Land Title Insurance Company (Westcor) announced today an expansion of its footprint into the New England market.

Chris Strynar, a longtime veteran of the title industry in the Northeast, will lead the team as the regional manager. Harold Clarke will serve as senior underwriter for New England. The remaining members of the team are spread throughout Massachusetts, Rhode Island, and Connecticut providing consistent high quality service to independent title agents.

“We are pleased to expand our services and operations to the New England territory,” stated Mary O’Donnell, president and chief executive officer of Westcor Land Title Insurance Company. “As the Westcor family continues to grow nationwide, our commitment to the service we provide our agents remains unchanged.”

The Northeast expansion continues to validate the Westcor business model providing a reliable, national, independent underwriter offering best-in-class service to quality title agents. “We are excited to move forward and further assist our agents in growing their business,” explained Strynar. “Westcor’s commitment to independent title agents combined with a hands-on approach affirms the business philosophy of the New England team. The enhanced capabilities will offer our independent title agents a proactive platform to increase their market share in the Northeast.”

Westcor Land Title Insurance Company is licensed in 27 states with license applications pending in all remaining states.

 

 

Westcor Welcomes Kimbery Sledd

Tuesday, April 13th, 2010

welcome-matWestcor Land Title Insurance Company, a National Title Insurance Company with offices in Florida, New York, Idaho, Colorado, and Texas, would like to welcome Kimberly Sledd to the National Agency Division.  Kimberly will be an account representative and provide servicing to Multi-State and local agencies throughout the Mid-Atlantic states.

Formerly with LandAmerica, Kimberly brings over 6 years of experience working closely with National and Local Agent Partners to develop growth strategies and streamlined business processes. Kimberly is a wonderful new addition to the Westcor Family.

Kimberly has called Richmond, VA home for many years now and enjoys skiing, painting, hiking and traveling.

For more information on Westcor, and how being an independent, privately owned Title Insurance Company benefits title agents across the country, please visit http://wltic.com.

Westcor Land Title Insurance Company Reports 2009 Financials

Thursday, April 1st, 2010

FinancialsWinter Park, FL—March 31, 2010—Westcor Land Title Insurance Company (Westcor), a leading independent underwriter, reports $90.7 million in premiums written in 2009 compared to $45.6 million in 2008.  This is a clear indication of the strength and perseverance of Westcor’s independent agents.

Westcor’s 2009 year-end financial results report a net income of $2.3 million and an increase in market share in every state underwritten.  “In these challenging times, we are proud to report positive and profitable financial results,” explains Mary O’Donnell, President/CEO of Westcor Land Title Insurance Company.  “Our success is a direct result of our independent agents’ ability to consistently compete regardless of market conditions.  It is this quality that identifies and differentiates our agents.”

Licensed in 23 states with 10 new licenses pending, Westcor maintains six regional offices nationwide and is the fastest growing title insurance company in the United States. Westcor’s aggressive selective growth is balanced by their quality agent selection criteria.

About Westcor Land Title Insurance Company

Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies.  Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters.  To learn more about Westcor and how you can join the independent movement, visit www.wltic.com, or call 866–629–5842.

 

Westcor Land Title Insurance Co Announces New Hires

Wednesday, March 3rd, 2010

welcome-matWestcor Land Title Insurance Company (Westcor), a leading independent underwriter, today announced two new hires to the Westcor family.  Gail Hinson joins the Florida Agency division as a Marketing Representative and will report to Glenn Bradley, Vice President of the Florida Agency. In her new role, Hinson will utilize the knowledge she gained from over 40 years of title industry experience at Old Republic to service loyal customers and make new contacts to support Westcor’s ongoing expansion.

Westcor also announced Vivian Hastings joins the Pensacola Title Plant as Assistant Statewide Production Manger. She will report to Tami Manning, State Production Manager and Richard Murray, Vice President of Title Plant Operations.  Hastings will manage a myriad of day-to-day production duties as well as cultivate new and existing customer relationships. With over 30 years of in-depth industry experience, Hastings joins from The Fund where she served as Product and Service Manager.

“We are delighted to welcome Gail and Vivian to the Westcor family, said Richard Murray.  ‘Their presence indicates our ongoing expansion effort to continue to serve the needs of the independent agent.  Their in-depth knowledge and experience provides Westcor with the strength and confidence that our performance will remain consistent as we continue to grow.”

About Westcor Land Title Insurance Company

Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies.  Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters.  To learn more about Westcor and how you can join the independent movement, visit www.wltic.com, or call 866–629–5842.

Westcor Land Title Insurance Co Reports Growth and Profit in 2009

Tuesday, February 9th, 2010

profitsupWinter Park, FL—February 9, 2010—Westcor Land Title Insurance Company (Westcor), a leading independent underwriter, reports an increase in gross premiums for the third quarter of 2009. According to third quarter results released by the American Land Title Association (ALTA), Westcor increased 83% in gross premiums compared to the same period of 2008. Westcor attributes the significant growth to the expansion of its independent agency base.

In 2009, Westcor expanded its agency base in the West and North East while continuing expansion in its Florida Title Insurance operations “ Our geographic expansion contributed to our significant growth together with the loyalty and dedication of our existing agency base. We attribute our success to the quality and integrity of our independent agents throughout the country. It is their dedication, commitment to excellence in service and strength to persevere during difficult times that is the reason for our success” explains Mary O’Donnell, President of Westcor.

Third quarter financial reports also confirm Westcor’s strong financial position thereby maintaining strong ratings from Demotech and Lace.

Now licensed in 23 states, with six regional offices nationwide, Westcor is optimistic about the future. “ We recognize that the market has changed and understand it represents new opportunity for innovation and improvement, states Mary O’Donnell. We look forward to meeting future challenges and remain committed to the growth and vitality of the independent agent.” To view Westcor’s current State Licensing Map, please visit http://wltic.com/state-license-map-of- westcor.

About Westcor Land Title Insurance Company
Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies. Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters. To learn more about Westcor and how you can join the independent movement, visit http://www.wltic.com, or call 866–629–5842.