The policy must be delivered within 30 days to which party?

The policy must be delivered within 30 days to which party?

• A. Insured
• B. Insurer
• C. Mortgagee
• D. Beneficiary

Answer: (A)

Delivery timing centers on providing the final title insurance policy to the person whose interest is protected—the insured. The policy is a contract of indemnity issued to the insured to protect against losses from title defects, so it must be delivered to that party within 30 days after issuance. The lender’s interest is protected via a mortgagee clause, and a copy may go to the mortgagee, but the recipient who receives the policy itself and holds the protection is the insured. The term “beneficiary” doesn’t apply here, since title insurance doesn’t designate a beneficiary in the same way as life or other policies.

Delivery timing centers on providing the final title insurance policy to the person whose interest is protected—the insured. The policy is a contract of indemnity issued to the insured to protect against losses from title defects, so it must be delivered to that party within 30 days after issuance. The lender’s interest is protected via a mortgagee clause, and a copy may go to the mortgagee, but the recipient who receives the policy itself and holds the protection is the insured. The term “beneficiary” doesn’t apply here, since title insurance doesn’t designate a beneficiary in the same way as life or other policies.