Insured Closing Protection Letter (ICPL)

An Insured Closing Protection Letter (ICPL) is a document that provides protection for parties involved in a real estate transaction. It ensures that the closing agent acts properly and follows instructions in managing funds and documents. If the agent misappropriates funds or fails to complete their duties appropriately, the ICPL provides a safety net, covering potential losses. This letter is typically issued by title insurance companies and serves as an added layer of security to help mitigate risks during the closing process of a property sale.