Did you know that Texas’ government engages in price xing? Under Title 11 of the Texas Insurance Code, the state has assumed the authority to “completely regulate” the business of title insurance. This means that it sets rates, determines coverage options, and assumes overall control of the details usually negotiated by parties in a transaction.
Economy
Heavy title insurance regulation means consumers pay more
Texas has become the nation's economic engine in large part because we have allowed competition to bring lower prices and better products in markets such as telecommunications, electricity and oil and gas. Title insurance should be no different.
February 23, 2017