The Texas Title Insurance Tax – Harris County

HB 4239 & SB 2203: The Texas Title Insurance Monopoly

Testimony on HB 4239 and SB 2203 by Bill Peacock

Heavy Regulation, High Profits, and Wasteful Spending

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.

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.