What is the title insurance company responsible for issuing a policy and paying claims called?

The entity responsible for issuing a title insurance policy and paying claims is termed the insurer. The insurer is the organization that takes on the risk associated with the title insurance by guaranteeing ownership of a property and protecting against potential defects in the title. In the context of title insurance, the insurer facilitates the process of underwriting, which involves assessing risks and determining the terms under which coverage will be provided.

In this role, the insurer is charged with the obligation to satisfy any valid claims made under the title insurance policy, thereby providing financial protection to the policyholder. Understanding the role of the insurer is crucial, as it highlights the importance of the underwriting process and the responsibilities that follow once the title insurance policy is issued. This concept is fundamental in comprehending how title insurance operates within the real estate transactions and why it is essential to have a reliable insurer for safeguarding property interests.