The Texas Public Policy Foundation (TPPF) and the Texas Association of Business (TAB) today called for comprehensive reform of the state’s overly regulated title insurance system. Texas prohibits competition in the title insurance market—a mandate that forces Texans to pay among the highest title insurance rates in the country.
A new statewide voter survey points to broad support for such reforms. According to the survey commissioned by TAB and conducted by Baselice & Associates, 91 percent of Texans agree that if they can shop around for automobile and home insurance, they should be able to shop around for the best deals on title insurance.
TPPF and TAB announced plans to educate Texans about the hundreds of millions of dollars they could save by introducing competition into the title insurance market, and executives from the state’s leading business and free-market policy organizations called on state lawmakers to take action next legislative session.