Is it unethical to collect premiums and not issue the insurance?

Hi...Saw your blog online, as I was searching for information.What happens if the closing attorney, who is also a title agent, never files the title insurance policy with the title company, and therefore never pays the title company for the policy that a client has purchased? Is it unethical to do this, and is there an amount of time that the attorney has to file? I'm referring to cases in which