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Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

I have had a similar experience and had to sue my carrier . Case was settled with carrier paying half of a small settlement . If you are interested to discuss, call me after the 15th of May when I am back in office 786 2582870

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Abraham Galbut
Galbut, Walters & Associates
Miami FL
+1 (786) 245-2316
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Original Message:
Sent: 05-05-2023 10:59
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

We have not filed a claim on our E&O. However, I recently went to a title company seminar for agents in NC and SC.  A topic of discussion was various means of seller fraud.  One of the key points was taking extra precautions regarding accepting and disbursing funds from sellers, because E&O insurance carriers will not cover it.  Insurance carriers are using the wire fraud exception as broadly as possible to deny claims.

A local firm recently lost a significant amount of money because a commercial mortgage payoff was intercepted.  The firm called to verify the information.  There was such a slight change in the information that it was not picked up when it was read aloud.  Unfortunately, fraudsters have gotten very savvy, and agents are sometimes left holding the bag.

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Lora Leathco
Paralegal
Capital City Title Agency, Inc.
Columbia SC
+1 (803) 277-4322
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Original Message:
Sent: 05-05-2023 10:59
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

Original Message:
Sent: 5/5/2023 11:00:00 AM
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

Original Message:
Sent: 5/5/2023 11:00:00 AM
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

Hi John & all - great discussion and sharing of what everyone is experiencing. CertifID is seeing more cases of seller impersonation attempts as well. We've put together resources on how to verify seller identity (to reduce the fraud risk), and will be discussing in a webinar on May 10 at 11am ET. If you'd like to join, register at - https://www.certifid.com/to-catch-a-fraudster

------------------------------
Claudia Lee
CertifID
Austin TX
+1 (616) 202-6612
------------------------------

Original Message:
Sent: 05-05-2023 10:59
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

Hi Claudia,

For those of us who were on Capitol Hill yesterday with ALTA Advocacy, is that webinar recorded and available for viewing?

------------------------------
Creating a better business experience while turning revenues into profits

Nancy L. Gusman, Esq.                      
Brick House Consulting Services, LLC                      
GusmanLegal, LLC                                         
Past President, Maryland Land Title Association                                                           
Certified Land Title Professional (CLTP)                                
National Title Professional (NTP)                                                           
11720 Beltsville Drive
Suite 500
Beltsville, MD 20705
Phone: (301)563-9669                                                 
Fax: (240)559-1430
Mobile: (240)994-1697
Email: nancy@mybhexperience.com
------------------------------

Original Message:
Sent: 05-09-2023 09:12
From: Claudia Lee
Subject: Seller Fruad

Hi John & all - great discussion and sharing of what everyone is experiencing. CertifID is seeing more cases of seller impersonation attempts as well. We've put together resources on how to verify seller identity (to reduce the fraud risk), and will be discussing in a webinar on May 10 at 11am ET. If you'd like to join, register at - https://www.certifid.com/to-catch-a-fraudster

------------------------------
Claudia Lee
CertifID
Austin TX
+1 (616) 202-6612

Original Message:
Sent: 05-05-2023 10:59
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

Sure, here you go. Let us know if this was helpful. Great questions and advice sharing amongst attendees during the session!

https://www.certifid.com/webinar/to-catch-a-fraudster-seller-impersonation-scams

------------------------------
Claudia Lee
CertifID
Austin TX
+1 (616) 202-6612
------------------------------

Original Message:
Sent: 05-11-2023 10:56
From: Nancy Gusman
Subject: Seller Fruad

Hi Claudia,

For those of us who were on Capitol Hill yesterday with ALTA Advocacy, is that webinar recorded and available for viewing?

------------------------------
Creating a better business experience while turning revenues into profits

Nancy L. Gusman, Esq.                      
Brick House Consulting Services, LLC                      
GusmanLegal, LLC                                         
Past President, Maryland Land Title Association                                                           
Certified Land Title Professional (CLTP)                                
National Title Professional (NTP)                                                           
11720 Beltsville Drive
Suite 500
Beltsville, MD 20705
Phone: (301)563-9669                                                 
Fax: (240)559-1430
Mobile: (240)994-1697
Email: nancy@mybhexperience.com

Original Message:
Sent: 05-09-2023 09:12
From: Claudia Lee
Subject: Seller Fruad

Hi John & all - great discussion and sharing of what everyone is experiencing. CertifID is seeing more cases of seller impersonation attempts as well. We've put together resources on how to verify seller identity (to reduce the fraud risk), and will be discussing in a webinar on May 10 at 11am ET. If you'd like to join, register at - https://www.certifid.com/to-catch-a-fraudster

------------------------------
Claudia Lee
CertifID
Austin TX
+1 (616) 202-6612

Original Message:
Sent: 05-05-2023 10:59
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone

Hi everyone:
Very interesting topic......

We deal with foreign sellers in regards to FIRPTA compliance, so a Foreign National was selling "his house" for about $650,000 here in the Houston area, we asked for a U.S. tax ID and he did not have one, no problem, many legitimate foreign sellers don't have a U.S. TIN, so we asked for a copy of his passport to apply for an ITIN and he denied to provide us with a copy, "his passport was expired he said" and he was not interested in recovering the FIRPTA withholding which at that sales price was almost $100,000.00 seriously WHO DOESN'T WANT TO RECOVER $100,000 that's were we got suspicious and informed the Title company,  long story short, he was trying to sell someone else's property, but we all caught him.

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Mary Enzi
Tax Solutions – FIRPTA Consulting
Barker TX
+1 (281) 578-1040
------------------------------

Original Message:
Sent: 05-05-2023 10:59
From: John Hammond
Subject: Seller Fruad

Has anyone filed a claim on their E&O insurance regarding seller fraud? And if yes, were you successful getting a settlement or was your claimed denied?
The reason for my question is that we have been denied by our insurer on a seller fraud claim. The insurance carrier denial is based on their wire fraud exception.


Sent from my iPhone