Bill > HB5173

This bill modifies the Texas Insurance Code to establish a more structured and transparent process for collecting and publishing annual statistical reports from title insurance agents and companies. Specifically, the Texas Department of Insurance will now be required to issue a call for statistical report data to title insurance agents by March 1 (with reports due May 1) and to title insurance companies by April 1 (with reports due June 1). The department must then publish a comprehensive compilation report on its website summarizing these statistical reports by October 1 for agents and November 1 for companies. The report will include key information such as loss experience, operational expenses, premiums, and other material matters. The bill allows existing premium rates to remain in effect until new rates are established using the data from these reports, and it will take effect either immediately with a two-thirds vote in the legislature or on September 1, 2025, if that threshold is not met. The goal appears to be improving the state's ability to monitor and potentially regulate title insurance rates by ensuring more timely and detailed reporting.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB5173