Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
      By: Dean H.B. No. 5198       A BILL TO BE ENTITLED   AN ACT   relating to a study of title insurance rates in Texas and other   states.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  DEFINITIONS. In this Act, "Department" means   the Texas Department of Insurance.          SECTION 1.  STUDY. (a) The department shall conduct a   comprehensive study on the current rate setting system in Texas and   the impact of enacting alternative rate regulatory models used in   other states. The study shall include the impact of these   alternative rate regulatory models on market competition, and   consumer protection, and whether the models would lead to adequate   and not excessive rates in the title insurance industry in Texas.   The study must include, but not be limited to, the following   components:                (1)  A comparative analysis of the overall cost of   title insurance rates in Texas with those in other states, both   regulated and deregulated;                (2)  Title insurance claims, premiums, paid losses,   incurred losses, expenses, investment income, and other rate   factors, to be reported annually in total numbers and as a   percentage of insurance premiums in Texas and other states;                (3)  An assessment of the potential impact of enacting   alternative rate regulatory models used in other states on market   competition in the title insurance industry in Texas, including the   impacts on consumers, title insurers, and the real estate market;   and                (4)  Recommendations for any legislative or regulatory   changes based on the findings of the study.          SECTION 3.  REPORT. The department shall prepare a report   with the conclusions of the study and submit the report to the   legislature not later than December 1, 2026.          SECTION 4.  EXPIRATION. This Act expires January 1, 2027.          SECTION 5.  EFFECTIVE DATE. This Act takes effect September   1, 2025.