to launch Bajaj Allianz, ICICI Lombard in talks with US-based product. Property development in India will soon make a blanket if something is wrong with the bad. The land of the two major private insurers, ICICI Lombard General Insurance and Bajaj Allianz General Plan, the insurance market covers the title this year. Title insurance is coverage that protects a potential owner of a property against loss from legal defects. The policy is retrospective, if the insured against losses arising from events, which is before the date of issue of the protection policy occurred. Worldwide, the policy is bought by investors, occupiers and donors. Currently there are no real estate transactions, large acquisitions or a simple sale of land or property is covered by insurance with an insurer on the Indians. The reason is that Indian insurance companies do not have the underwriting expertise to offer title insurance products. Indian insurers require reinsurance support to be able to offer a product. Both Bajaj Allianz and ICICI Lombard in talks with First American Title Insurance Company (Fatic), which will support reinsurance companies offer Indians to find the product. Fatic is the largest insurer in the world title with a turnover of 8 million to 4 billion in 2006. Says Swaraj Krishnan, CEO, Bajaj Allianz General Insurance, “We had a preliminary discussion with First American Title Insurance. We have asked us the product details. ‘Ll us, market research, the title examination and is the product with the regulator in the coming months to file. “ The value of the insurance coverage of securities is equal to the price of land, which must be purchased. The rate will depend on the value of the property involved, the nature of the transaction, which means that the size of the purchase in the past the property, costs associated with the title search and legislation in the title search. Howden Insurance Brokers is also leading to negotiations with property developers, financial institutions, insurance companies, law firms, reinsurers and insurance policies sold next year. Says Anoop Mathur, vice-chairman of Howden Insurance Brokers, “value at risk increased proportionately as the cost of land for developers to more and more real estate. Title insurance is a bankable project and marketable customer “. After discovering Akshaya Kumar, chairman, Park Lane Property Advisors, consultants during due diligence 20-30 percent of cases of defects in them. Property Consultants believe that the availability of title insurance products are private equity investments in Indian real estate, like most institutions have improved markedly, especially in the securities. According to accounting and business advisory firm Grant Thornton in Germany, private actions are nearly Rs 25,000 crore in Indian real estate and infrastructure investing entirely in 2007, according to industry estimates, investment expected to increase next year. No agencies buy, even if they have any doubt about the title. More Private Equity Fund will invest in Indian real estate market, where insurance products are securities in the country, “said Anuj Puri, Chairman Jones Lang LaSalle Meghraj, an international real estate consultants. Adds Anshuman Magazine, managing director of CB Richard Ellis South Asia “title insurance products offer a variety of comfort to international investors of their funds in real estate markets in developing markets such as India to invest. Since these investors do not invest directly and do joint ventures with Indian developers will take care of the local partners are subject title. But we have seen, foreign investors are demanding these products before signing of the agreement to develop properties. “ According to Mathur of Howden Insurance Brokers, the two Bills – Land Acquisition draft amendment that was introduced last month in the Lok Sabha, and the resettlement and rehabilitation of the bill – Business Acquisition of Land for SEZ or other reasons to buy a title insurance covers. Explains Mathur, “After the amendment of the Land Acquisition Act of 1984, will not buy the government will be able to land and to do business. Consequently, companies must purchase the land owners at a higher price. In such a scenario, the title sponsors of the draft insurance against financial losses, which protect against defects in title to real property. “ There are two types of title insurance policies: the owner of the policy and lenders “policy. Owners Title Insurance is purchased by a buyer of the property. It protects the buyer for any loss or defects in title. On the other side of the insurance to lenders as lenders such as banks and financial institutions has been purchased. Experience in other global markets, is that all institutional investors require title insurance to protect their interests in the collateral of loans secured on real estate. The amount of the policy decreases each year are paid to the loan each year. The policy contains a provision for the cost of defense when the track is located on the property in a court until the actual amount of compensation provided under the policy in question. Land records in the country are not computerized and will not easily accessible. The register of deeds is not guaranteed by the state government and are not conclusive, typically leaving buyers of 30 years to evaluate the title. In addition, the level of fraud in property transactions in India is very important, and the legal process is slow. According to officials of insurance, four fifty-six foreign companies title insurance are eager to do business in India on this product. You can create a company dedicated to India, or could provide reinsurance support to Indian insurers to offer policies for the industry.