First American Transportation Title Insurance Company Upgrades Aviation Product
October 10, 2000, NEW ORLEANS
"We have created a totally new insurance policy improving our insurance coverage so that owners and lenders can be assured of security and peace of mind," said John Casbon, President and CEO of First American Transportation Title Insurance Company. "The coverage far exceeds that which has been available in the market. We are proud of our leadership position as an aircraft title insurer and are confident that with the new EAGLE Protection Policies, we will continue that leadership. Our company has taken its diverse expertise and focused it on the needs associated with the full or fractional purchase of an aircraft to provide an unrivaled product to benefit all parties involved in the transaction."
Ann Lennon, Vice President, First American Transportation Title Insurance Company, addressing aircraft buyers and lenders said, "Don't enter into a transaction involving purchase or financing of an aircraft until you contact First American Transportation Title Insurance Company. Through our new EAGLE Protection Policies, lenders and owners will have the security of insurance coverage guarding against many of the unforeseen issues relating to title of the aircraft and the validity and enforceability of the lender's security interest. Lenders and owners can have the security of insurance coverage that is backed by a corporation with over 100 years of experience providing land title insurance. Just as it is important to have title insurance for real property and mortgages, aircraft title insurance is necessary for buyers and lenders in the aviation industry."
First American Transportation Title Insurance Company acts to support all parties involved in an aircraft transaction. The owner's peace of mind is assured because of protection against title deficiencies and other irregularities (such as fraud and forgery) in the purchase transaction. The lender's security is significantly enhanced and it's secured position is protected. The attorneys involved in the transaction can limit their legal opinions on issues covered by the insurance policies, and eliminate some of the contention that arises in the attorney client relationship.
First American Transportation Title Insurance Company, a subsidiary of The First American Corporation (NYSE: FAF), is the industry's leading provider of title insurance for the aviation and maritime industries. The Company has provided aircraft title insurance to owners and lenders for over 30 years. The Vessel Title Division, headquartered in New Orleans, offers the EAGLE Protection policies for vessel owners and lenders. The Company also offers 1031 tax-deferred exchange services. First American Transportation Title Insurance Company can be found on the Internet at www.firstam.com/transportation.
The First American Corporation, based in Santa Ana, Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance and services; real estate information and services, which includes mortgage information services and database information services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.