Agent Prospect Application Procedure
Should a prospective agent express interest in our program, the owners of the agency will complete the "Application for Approval" (attached). They must also submit all information requested on the application. The information as outlined on the "Application Checklist" is then obtained. This is a one-to-two month process, depending on the size and complexity of the agency.
In addition, any authorized signatories (those who will be appointed by Conestoga Title to sign commitments and policies) and individuals who will be authorized to sign checks for the prospective agent, are required to complete and submit an application. (Application attached) Complete background checks are completed on these individuals.
Conestoga requires that bank statements and reconciliations be submitted for any of the agency's escrow accounts. Our in-house accounting department staff analyzes the information. Once that step of the process is completed, a pre-audit is conducted by one of Conestoga's auditors. This is done at the agent's office. (Please refer to the agency audit procedures attachment for a more thorough explanation of the audit process.)
Personal financial statement forms are required of all applicants. Credit checks are also performed.
Conestoga's internal checklist is also attached which outlines both the items that an applicant submits as well as the checks and procedures done by our company.
After the prospective agent is approved, all conditions imposed by management are met, and the Agency Agreement executed, a meeting is scheduled for a "set-up". During this meeting, the agent and any key employees are trained to use Conestoga forms and procedures. Additional training sessions are scheduled, if necessary.
The Agency Administration department conducts a review of the agent's use of forms and procedures sixty to ninety days after set-up. Additionally, all agents are audited annually. The auditor checks on the status of outstanding policies, analyzes premiums remitted and monitors the number of insured closing protection letters issued in the agent's name. Random files from the title base are reviewed in detail to check for zero balancing of files, timelines of recording and check clearing, accuracy of form preparation, etc. Department heads meet weekly and discuss irregularities or complaints concerning individual agents. All departments are involved in the continual monitoring of Conestoga's agents.
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Approved Attorney Prospect Application Procedure
Typically, the first personal contact a prospective Approved Attorney has with Conestoga Title is by way of a telephone interview conducted by one of our company's Marketing Representatives or one of our agents.
Should an attorney express interest in our program, they will complete the "Application for Approval" form. Evidence of malpractice insurance in an amount of at least $500,000 per claim must also be provided.
Upon completion of background checks, each applicant is reviewed by Management.
Once approved, the attorney is trained to use Conestoga forms and procedures.
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