New Jersey Title Insurance Company
New Jersey Title Insurance Company can trace its roots all the way back to 1888. When the Parsippany, New Jersey based company was originally formed it was as an abstracting company. It would search titles and report its findings to attorneys in the form of an abstract, which was then used as the basis for the transferring of title.
When title insurance finally gained wide acceptance, NJTIC shifted from being an abstracting company to being a title insurer. For the remainder of the 20th century, it operated directly through a number of branch offices located throughout New Jersey.
In 2000, the Company saw what the future held for the title insurance industry, and decided to dramatically alter its business model; by 2001 it had sold or closed all of its branch operations and had shifted to operating exclusively through title agents.
While New Jersey Supreme Court ethics rules prohibit attorneys from acting as title agents when they are representing any party to a transaction, attorneys remain an integral part of the typical real estate transaction in New Jersey. NJTIC's agents work closely with attorneys to assist them toward a successful closing for their clients.
With the still on-going acquisition of smaller, independent title insurers by the large, national underwriters, New Jersey Title Insurance Company is now one of the very few notable underwriters in New Jersey, Pennsylvania and New York that do not compete against agents. By joining the CATIC Financial family of companies, NJTIC now has an enhanced ability to support its agents, and to promote the value that title agents and attorneys provide to the public. Just as it has for CATIC agents throughout New England, that unique business position resonates well with agents in NJTIC's region of the country and has led to its rapid growth over recent years.
