Bill > H921

This bill aims to reform title insurance in Massachusetts. It requires title insurance companies to file quarterly statements detailing their rates, which will be publicly posted by the insurance commissioner. The bill also provides buyers of title insurance policies certain protections, such as the right to the basic rate or a reissue rate if the property was previously insured, and the right to a continuation of the original title insurance policy at no additional cost when refinancing through the same or a successor lender. The bill also includes provisions for written disclosure to buyers about the costs and components of the title insurance policy, and penalties for those who provide false or misleading information.

Business and Industry

https://malegislature.gov/Bills/191/H921