What type of records must be maintained by title insurance agents for audit purposes?

Title insurance agents are required to maintain individual escrow records for audit purposes to ensure compliance with regulations and best practices. Escrow records include detailed information about each transaction, such as funds received, disbursement details, and any relevant correspondence. These records are essential for tracking the handling of client funds and ensuring that all transactions are accurate and transparent.

The need for meticulous escrow records supports the integrity of the title insurance process, providing a clear trail that can be reviewed during audits. This transparency helps to protect both the agent and the clients, maintaining trust in the title insurance system.

In contrast, personal financial records, company tax records, and client communication logs, while important for various business operations, do not specifically meet the requirements for audits related to the handling of escrow funds and transactions. These records might serve different purposes but are not the primary focus when it comes to ensuring compliance and accountability in the context of title insurance.