LAW OFFICES OF

JACQUELINE E. CANNAVAN P.A.

JACQUELINE E. CANNAVAN, ESQ. EMERALD PARK OFFICE PLAZA 2699 STIRLING ROAD

SUITE C303

LAUDERDALE, FLORIDA 33312 TELEPHONE (954) 272-2060

FAX (754) 400 7529

Security Statement

 

Jacqueline E. Cannavan has taken measures to guard against unauthorized or unlawful processing of personal data and against accidental loss, destruction or damage. This includes:

  • Adopting an information security policy (this document is our policy)
  • Taking steps to control physical security (projects and staff records are all kept in a locked filing cabinet)
  • Putting in place controls on access to information (password protection on files and server access)
  • Establishing a business continuity/disaster recovery plan (including, at minimum taking regular back-ups of its computer data files and is stored away from the office at a safe location)
  • Training all staff on security systems and procedures
  • Detecting and investigating breaches of security should they occur

Basic Principles

  • Personal data is to be collected for the purpose
  • Data collected is to be relevant but not excessive for the purpose On an annual basis, title insurance application forms and any other forms that we use are reviewed to confirm that we are not asking for irrelevant information.
  • Data is not to be kept for longer than is necessary for the purposes collected, including complying with applicable
  • Files are scanned into secure server and paper copies are
  • Files are moved to locked files in a secure location in our

We protect the data with appropriate technical and organization measures to minimize the risk of unauthorized or unlawful processing and against accidental loss or destruction or damage to personal data.

Best Practices

  1. Best Practice: Establish and maintain current License(s) as required to conduct the business of title insurance and settlement
  • Establish and maintain applicable business License(s).
  • Establish and maintain compliance with Licensing, registration, or similar requirements with the applicable state regulatory department or

           2. Establish and maintain appropriate compliance with ALTA’s Policy Forms Licensing2. Best Practice: Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.

Purpose:

  • Escrow funds and operating accounts are separately

Escrow funds or other funds Company maintains under a fiduciary duty to another are not commingled with Company’s operating account or an employee or manager's personal account.

  • Escrow Trust Accounts are prepared with Trial
  1. On at least a monthly basis, Escrow Trust Accounts are prepared with Trial Balances (“Three-Way Reconciliation“), listing all open escrow
  • Escrow Trust Accounts are
  1.                On at least a daily basis, reconciliation of the receipts and disbursements of the Escrow Trust Account is performed.
  2. On at least a monthly basis, a Three-Way Reconciliation is performed reconciling the bank statement, check book and Trial Balances.
  3. Segregation of duties is in place to help ensure the reliability of the reconciliation and reconciliations are conducted by someone other than those with signing

Escrow Trust Accounts are properly identified

  • Accounts are identified as “escrow” or “trust” accounts. Appropriate identification appears on all account-related documentation including bank statements, bank agreements, disbursement checks and deposit
  • Outstanding file balances are
  • Transactions are conducted by authorized employees only. Only those employees whose authority has been defined to authorize bank transactions may do

Appropriate authorization levels are set by Company and reviewed for updates annually. Former employees are immediately deleted as listed signatories on all bank accounts.

Unless directed by the beneficial owner, Escrow Trust Accounts are maintained in Federally Insured Financial Institutions.

3.  Best Practice: Adopt and maintain a written privacy and information security program to protect Non-public Personal Information as required by local, state and federal law.

 

Physical security of Non-public Personal Information.

  • Restrict access to Non-public Personal Information to authorized employees who have undergone Background Checks at hiring.
  • Prohibit or control the use of removable
  • Use only secure delivery methods when transmitting Non-public Personal

Network security of Non-public Personal Information.

  • Established data classification guidelines for all information received to ensure that it is handled appropriately to protect our customers’ confidential These classifications used are to ensure that the data is maintained, handled, stored, backed-up and destroyed in the correct manner to protect our customers.

4.  Best Practice: Adopt standard real estate settlement procedures and policies that help ensure compliance with Federal and State Consumer Financial Laws as applicable to the Settlement process.

Recording procedures.

  • Review legal and contractual requirements to determine Company obligations to record documents and incorporate such requirements in its written
  • Submit or ship documents for recording to the county recorder (or equivalent) or the person or entity responsible for recording within two (2) business days of the later of (i) the date of Settlement, or (ii) receipt by Company if the Settlement is not performed by
  • Track shipments of documents for
  • Ensure timely responses to recording
  • Addressing rejected recordings to prevent unnecessary
  • Verify that recordation actually occurred and maintain a record of the recording information for the document(s).

Third-party signing professional procedures.

Third-party signing professionals, including notaries public, engaged by the Company possess the appropriate qualifications, professionalism, and knowledge, including the standards described below. These requirements are determined by a mix of legal and contractual obligations.

  • Verify that the third-party signing professional is covered by
  1. Errors and Omissions insurance, and
  2. Notary surety bond, if required by state law; and
    • Require that third-party signing professionals:
  3. Furnish evidence of their current state licensure, where required, or evidence if they have attained a recognized and verifiable industry designation, and;
  4. Provide an acknowledgement of compliance with Company’s instructions and Company's information security
  • *NOTE: If a third-party signing professional is directly employed by a title or settlement agent or underwriter that provides evidence of compliance with the Best Practices, Company does not need to perform the due diligence requirements outlined in this section of the ALTA Best Practices.

o In the event that a third-party signing professional is contractually retained by anyone other than Company (including the buyer or seller), the responsibility for verifying that the third-party signing professional meets applicable standards rests with that party.

5.  Best Practice: Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.

 

  • Title policy production and
    • Title insurance policies are issued and delivered to customers in a timely manner to meet statutory, regulatory or contractual
    • Issue and deliver policies within thirty days of the later of
  1. the date of Settlement, or
  2. the date that the terms and conditions of title insurance commitment are
  • Premium reporting and
    • Title insurance policies are reported to the underwriter (including a copy of the policy, if required by the underwriter) to meet applicable statutory, regulatory and contractual obligations, but not to exceed 45 days following the (i) date of Settlement, or (ii) date the terms and conditions of the title insurance commitment are
  • Title insurance premiums are remitted to the underwriter to meet applicable statutory, regulatory and contractual

6. Best Practice: Maintain appropriate professional liability insurance and fidelity coverage.

  • Company maintains professional liability insurance or errors and omissions
  • Company complies with requirements for professional liability insurance, errors and omissions insurance, fidelity coverage or surety bonds, as provided by state law or title insurance underwriting

7.  Best Practice: Adopt and maintain written procedures for resolving consumer complaints.

  • Consumer complaint intake, documentation and

o                            Standard procedures for logging and resolving consumer complaints, ensure consumers provide company with sufficient information to understand the nature and scope of the complaint.