The Solution

The Solution

Competition and Consumer Standing

To help lower prices of title insurance, Texas must provide greater flexibility and competition to the rate regulatory system. The state should also give citizens a full voice in the process by providing standing to the public at rate hearings, as in other lines of insurance, and allowing them the right to request a rate hearing be held.

Support SB 1062 & HB 3228: Give Consumers Standing

Senator Kelly Hancock (R) and Representative Sergio Muñoz (D) have filed legislation to once again give consumers a voice in title insurance rate-setting hearings. Under current statute, title insurance companies can ask the Texas Department of Insurance for a hearing if they think rates are too low, but consumers – home buyers, realtors, builders and anyone other than title insurance companies – are prevented from asking for a hearing if they believe title insurance rates are too high. Both bills will give consumers a voice in the process and allow them to fully participate by providing standing to appear, offer evidence at hearings, and to request a hearing be held to consider a rate change more frequently than five years.

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