Texas has the most restrictive regulation of title rates and forms (policies) in the nation, allowing no opportunity for insurers to innovate with their products or lower rates to compete for business directly from the consumer. Texas should introduce competition into the title insurance market by moving to a file-and-use system.
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