A Title Insurance Agent is a licensed professional who issues insurance policies created with the intent of protecting the lender or owner against lawsuits or claims against a real property that arise from disputes over titles or land boundaries. Title defects or liens can cause financial loss to a client or their lender that a Title Insurance policy would help protect against.
As of April 2014, it is now required that those performing the duties of a Title Insurance Agent in the State of New York obtain a Title Insurance License.
Title insurance is especially important in large commercial real estate transactions where the buyer and their lender have a lot of money at stake. It is also required by nearly all institutional lenders.