For many Texans, title insurance has become an obligatory step on the pathway to homeownership. Therefore, it’s important that the title insurance market be competitive to keep prices at the lowest possible level while still maintaining a high quality of service. In a recent poll, 72 percent of Texans supported choice and competition in title insurance.
Economy
Impact of a Border- Adjustment Tax on the Texas Insurance Market
Applying a destination-based cash flow tax—better known as a “border-adjustment tax,” or BAT—to the import of reinsurance would have significant effects on the cost and availability of a range of insurance products. This report projects that, for Texas consumers, the impact would be $3.39 billion in higher property-casualty insurance premiums over the next decade.
April 27, 2017