Title insurance in Texas needs competition. Texas should eliminate its current rate setting and create a more flexible, competitive rate regulatory structure to allow consumers to shop for the best rate.

Key Points:

  • Texas needs a more flexible, competitive regulatory structure for title insurance and to eliminate rate setting.
  • Title insurance is the only line of insurance in Texas where the state sets the rate to be charged.
  • Texas is one of only two states in the country that sets insurance rates for title.
  • Texas has among the highest title insurance rates in the country.
  • Title rates in Texas are even more excessive for larger, commercial policies and the excess charges grow at an exponential rate compared to other states studied.