Alta Best Practice #5 deals with Policy Production. It says:

Keep up to date procedures regarding title policy production, delivery, reporting and premium remittance.

The reason for this is to Eestablish and keep up to date procedures for the production, delivery, reporting and remittance of title insurance policies which will allow title companies to meet all legal and contractural obligations.

Steps for achieving compliance with Best practice #5

1. All title insurance policies are issued and delivered to clients in a timely manner, within 30 days of the date of settlement, in order to meet state, regulatory and contractual obligations.

2. Title insurance policies are ALWAYS reported and remitted to an underwriter in a timely fashion, in order to satisfy state, regulatory and contractual obligations.

3. You must report and remit policies to an underwriter, with copies, the last day of the month after the settlement of an insured transaction.

Learntitle has collaborated with Streamline Consulting to develope an overview of all the Best Practices. We expect that course to be available soon for continuing education credit.