Longmont, Colo. – (May 24, 2022) – Alliant National Title Insurance Company, the title insurer that is uniquely responsive to the needs of independent agents, announces the completion of the ISO 27001 2022 audit, for which it received a prestigious and coveted certification. Alliant National also recently completed the ISO 27701 audit, becoming the first and only underwriter to obtain this new data privacy certification.
ISO 27001:2013 is an information security standard published by the International Organization for Standardization (ISO), the world’s largest developer of voluntary international standards, and the International Electrotechnical Commission. Successfully completing this audit for a third time (it first completed the audit in 2015 and the again in 2018) reflects Alliant National’s ongoing commitment to excellence in meeting rigorous international standards in ensuring the confidentiality, integrity, availability and protection of non-public information. The recertification is valid through 2025, subject to achieving satisfactory annual surveillance audits.
The new ISO 27701:2019 is a framework for data privacy that builds on ISO 27001. It guides organizations on the policies and procedures required to comply with the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA) and other data privacy requirements. It is built into the Privacy Information Management System (PIMS) and is valid through 2024 – subject to achieving satisfactory annual surveillance audits.
“We are incredibly pleased and proud to have achieved these ISO (27001 and 27701) certifications, which further distinguish the unique capabilities of Alliant National,” said Tom Weyant, Alliant National Vice President of Risk Management. “These certifications provide confidence to lenders, state insurance departments and our other stakeholders in our ability to protect non-public, personally identifiable and confidential information. It speaks directly to our ongoing efforts to meet and exceed the highest standards when securing and protecting the sensitive information that we are entrusted with every day.”
To achieve these certifications, Alliant National had to complete formal, independent certification audits, which tested and validated more than 170 technical and process controls within the Information Security and Privacy Management System frameworks. The audits were conducted by an ISO-licensed and accredited firm, A-lign CPAs of Tampa, Florida.
Alliant National supports its independent agents by combining expert residential and commercial underwriting with a passionate heart for service. The company delivers uncommon help that promotes the wellbeing of agents and the communities they serve.
Alliant National is on a mission to empower independent agents while protecting property owners with secure title insurance. The company partners with its agents and never competes against them with direct or affiliate operations. Alliant National serves thousands of title professionals as a licensed underwriter in 31 states and the District of Columbia.
The company meets rigorous SSAE 18 Type II standards for the eighth consecutive year.
Longmont, Colo.— (February 02, 2022) – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, announces that it has successfully completed the Service Organization Control (SOC) 1 SSAE 18 Type II examination of its Agent Quality Management System for the eighth consecutive year.
Upon successful completion of the examination, Alliant National received an AICPA-endorsed report stating that the company has maintained effective controls over its Agent Quality Management System, which is the framework it uses to approve and monitor its agents. Under this framework, Alliant National agents are reviewed against rigorous quality standards and are designated as Authorized Service Providers of Alliant National.
The SSAE 18 Type II exam also validates the company’s systems for minimizing the risk of insureds’ financial loss in connection with real estate closings. Lenders relying on Alliant National’s oversight procedures gain additional assurance through the results of the examination, as they firmly establish that the company’s Quality Management System processes are complete and function properly as designed.
“Alliant National was the first title insurance underwriter in the nation to obtain an SSAE16 – now SSAE 18 – Type II compliant status and is the only underwriter to achieve compliance for eight consecutive years,” said Alliant National President and CEO David Sinclair. “This certification provides further independent assurance and validation of our agent oversight systems to lenders. Our goal is to provide lenders unequivocal evidence of the quality of our agents through an independently audited system.”
A-Lign Certified Public Accountants of Tampa, Fla., performed the engagement and certification. The unqualified satisfactory report, with no exceptions, was issued January 7, 2022, and covered the full year of 2021.
Alliant National distinguishes itself from competitors by combining strong underwriting capability with independent agents’ in-depth knowledge of local markets. The result is a nationwide network with deep roots in local communities, and a wealth of expertise that is flexible, nuanced and continuously growing.
Cathie Beck Capital City Public Relations e: cathie@capitalcitypr.com p: 303-241-0805
ABOUT ALLIANT NATIONAL TITLE INSURANCE COMPANY
The Independent Underwriter for The Independent AgentSM – Alliant National believes in empowering people to thrive.
The company protects the dreams of property owners with secure title insurance and partners with 600+ trusted independent title agents as a licensed underwriter in 30 states and the District of Columbia.
The Federal Trade Commission (FTC) is updating a key data security rule, and the changes will place new compliance requirements on nonbank financial institutions including title, escrow and settlement agents. Among other things, the Safeguards Rule amendments finalized October 27 will require covered institutions to beef up their information security programs (ISPs). The changes are a response to widespread data breaches and attacks that have caused significant consumer harm in recent years, the FTC said.
Before surveying the changes, it may be helpful to review the state and federal compliance framework of which the Safeguards Rule is an important element.
GLBA, state law and the Safeguards Rule
The 1999 Gramm-Leach-Bliley Act (GLBA), codified as amended at 15 U.S.C. Chapter 94: Privacy, establishes basic privacy standards for “financial institutions,” including title insurers, title agents, and settlement/escrow agents. Unique in their role as third-party vendors to lenders, real estate settlement service providers also have a separate obligation to comply with the GLBA on behalf of the obligations owed by their lenders.
As long as states afford consumers the same or greater protection as GLBA, they can enact their own privacy laws, and they have all done so to different degrees and standards. Asserting their own authority, many states have privacy laws that substantially mirror GLBA, while others have their own, distinctive laws; and still others simply point to GLBA and mandate compliance with it.
Typically, state privacy laws and the federal GLBA overlap in the following general categories of privacy protections:
Disclosure Protections consisting of a privacy notice, “Opt Out” or “Disclosure Authorization” notice, and limits on what types of disclosures of Nonpublic Personal Information (NPI) may be made by a nonaffiliated third party who receives the information from a “financial institution”;
Security Protections consisting of a written security program, including administrative, technical and physical safeguards;
Security Breach Notification Requirements consisting of laws requiring a business to send out notice of any improper disclosure of NPI in its possession or control.
The FTC’s Safeguards Rule (16 CFR Part 314) is one of the federal regulations that implements the GLBA by requiring a written security program; the FTC offers guidance on its website regarding compliance with the “Safeguards Rule.” The rule provides “elements” in 16 CFR 314.4 to develop, implement, and maintain the Information Security Program (ISP), including risk assessment, management and control, oversight of service providers, evaluation and adjustment.
Rule changes
On October 27, 2021, the FTC issued a news release announcing that the agency was updating the Safeguards Rule to provide better protection against breaches and cyberattacks; it includes a link to the Final Rule containing the amendments (beginning on page 123) and the proposed text of what you can expect to see upon publication in the Federal Register.
In recent days, there have been numerous newsletters and blog articles buzzing about the final rule’s new requirements. Davis Wright Tremain LLP has a particularly good blog that summarizes the key requirements of the final rule.
There is a lot to talk about, and while the amended final rule is much more prescriptive in its approach, it is also drafted to provide flexibility and clarity. In particular there are helpful suggestions and information about alternative security options for small businesses who may qualify for limited exemptions discussed above. It also makes it clear that the ISP is intended to protect information in both its digital and physical forms.
The final rule contains tons of commentary, including discussion regarding stakeholder input and the commission’s rationale behind its final decisions. Some noteworthy highlights, as abbreviated, are:
designating a single, Qualified Individual as responsible for overseeing, implementing, and enforcing the ISP;
base the ISP on a written risk assessment which includes specific criteria described in the amendment;
designing and implementing safeguards, including:
access controls;
system inventory (i.e. knowing where the data is kept, and how everything is connected);
encryption;
secure development practices for in-house developed applications, and security assessments for externally developed applications (reference applications involving customer information);
multi-factor authentication;
disposing of customer information which hasn’t been used for two years (unless required for a legitimate business purpose);
periodically reviewing record retention policies to minimize unnecessary retention of information;
change management procedures;
monitoring and logging user activity;
biannual vulnerability testing on information systems, and additional assessments when there is an elevated risk of new vulnerabilities (e.g. when there are material changes to operations or business arrangements, and those changes will have a material impact on the ISP);
implementing policies and procedures – which include training, updating, and verification requirements – and ensuring qualified personnel are available to enact the ISP;
overseeing service providers, requiring them by contract to implement and maintain appropriate safeguards;
evaluate and adjust the ISP due to circumstances which may have a material impact upon it;
establish a written incident response plan which addresses specific areas described in the amendment;
required regular reporting, in writing, by the Qualified Individual – at least annually – to the board of directors, or to a senior officer (when there is no board of directors) responsible for the ISP, concerning 1) the overall status of the ISP and its compliance with the final rule; and 2) material matters related to the ISP; and
exemptions for financial institutions which handle the information of fewer than 5,000 customers, from the requirements of (referring to sections of 16 CFR Part 314, as amended by the final rule):
314.4(b)(1) – a written risk assessment
314.4(d)(2) – continuous monitoring or annual penetration testing and biannual vulnerability assessment
314.4(h) – a written incident response plan
314.4(i) – an annual report by the Qualified Individual
Effective dates
The anticipated date of publication in the Federal Register is not yet known, but that date will control the effective date(s) of the amendments. The effective date is one year after the publication for the following amendment provisions (referring to sections of 16 CFR Part 314, as amended by the final rule):
314.4(a) – appointment of a qualified individual
314.4(b)(1) – conducting a written risk assessment
314.4(c)(1)-(8) new elements of the ISP
314.4(d)(2) – continuous monitoring or annual penetration testing and biannual vulnerability assessment
314.4(e) – training for personnel
314.4(f)(3) – periodic assessment of service providers
314.4(h) – a written incident response plan
314.4(i) – annual written reports from the qualified individual
The remainder of the final rule’s amendments are effective 30 days after publication in the Federal Register.
This article is for informational purposes and does not contain or convey legal advice. Any opinions, or perceived opinions, are strictly those of the authors and should not be construed as legal advice or a legal opinion. Consultation with an attorney for specific advice based upon the reader’s situation is recommended.
Alliant National Title Insurance Company’s Agent Quality Management System Passes Service Organization Control Exam.
Longmont, Colo. – (March 23, 2021) – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position in the marketplace, announces the successful completion of the Service Organization Control (SOC) 1 SSAE 18 Type II examination for the seventh consecutive year.
By completing the examination, Alliant National will receive mention in an AICPA-endorsed report, stating that the company has maintained effective controls over its Agent Quality Management System. It also verifies that Alliant National’s processes for approving, monitoring and reviewing its agents, which results in their designation as Authorized Service Providers, include rigorous quality standards.
Additionally, SSAE 18 certified compliant status validates Alliant National’s systems for minimizing customers’ risk of financial loss in connection with real estate closings. As a result, lenders relying upon Alliant National’s oversight of its agents and Authorized Service Provider program receive additional assurance that processes are complete and accurate.
“Alliant National was the first title insurance underwriter in the nation to obtain compliant status and is the only title insurance underwriter to achieve compliant status for seven consecutive years,” said David Sinclair, President and CEO of Alliant National. “This certification provides further independent assurance of our agent oversight systems to lenders. Providing lenders with unequivocal evidence of the quality of our agents through an independently audited system is a top priority of Alliant National.”
A-Lign Certified Public Accountants of Tampa, Fla., performed the engagement and certification. The unqualified satisfactory report, with no exceptions, was issued January 11, 2021, and the audit scope covered the full year 2020.
Alliant National distinguishes itself from competitors by combining strong underwriting capability with independent agents’ in-depth knowledge of local markets. The result is a nationwide network with deep roots in local communities, and a wealth of expertise that is flexible, nuanced, and continuously growing.
Cathie Beck Capital City Public Relations e: cathie@capitalcitypr.com p: 303-241-0805
ABOUT ALLIANT NATIONAL TITLE INSURANCE COMPANY
The Independent Underwriter for The Independent AgentSM – Alliant National believes in empowering people to thrive. The company protects the dreams of property owners with secure title insurance and partners with 500+ trusted independent title agents as a licensed underwriter in 27 states and the District of Columbia
Successful SSAE 18 Type II examination validates Alliant National’s processes for approving, monitoring and reviewing its agents
LONGMONT, Colo. – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with Independent Agents to improve their competitive position in the marketplace, announces the successful completion of the Service Organization Control (SOC 1) SSAE 18 Type II examination for the fifth consecutive year.
The examination results in an AICPA endorsed report stating that Alliant National Title Insurance Company has maintained effective controls over its Agent Quality Management System. A-Lign Certified Public Accountants of Tampa, Fla., performed the engagement and certification.
The successful SSAE 18 Type II examination validates Alliant National’s processes for approving, monitoring, and reviewing its agents, which results in its agents being designated as Authorized Service Providers or Certified Service Providers of Alliant National. Under this framework, Alliant National’s Independent Agents are reviewed annually against rigorous quality standards.
Lenders relying upon Alliant National’s oversight of its agents and Authorized and Certified Service Provider programs receive additional assurance that processes and controls are designed and function properly and accurately.
Alliant National was certified to the SSAE 16 Type I standard on Dec. 1, 2013 and received compliant status to the more rigorous SSAE 16 Type II standard effective Aug. 31, 2014 and each year through December 31, 2018. That makes 2018 the fifth consecutive year of continued compliance to SSAE Type II standards. The unqualified report was issued without exceptions.
“Alliant National was the first title insurance underwriter in the nation to obtain an SSAE16 Type II compliant status and is the only title insurance underwriter to achieve compliant status for five consecutive years. This certification provides strong independent assurance of our agent oversight systems to lenders and all stakeholders,” Alliant National President and CEO, Bob Grubb said. “Our goal is to provide unequivocal evidence of the quality of our agents through an independently audited system.”
