Texas Judges Recommend 2.66 Percent Rate Increase
December 30, 2009
The State Office of Administrative Hearings (SOAH) judges, who heard the 2008 Biennial Rate Case in September, have issued their proposal for decision to the Commissioner of Insurance, according to the Texas Land Title Association (TLTA).
The judges recommended a 2.66 percent increase in the basic premium rates for title insurance in Texas. Their proposal includes the judges’ underlying rationale including their analysis of all the parties’ recommendations. The Texas Department of Insurance had recommended no change to the rates, the Office of Public Insurance recommended a 9.6 percent rate decrease and TLTA recommended a 13.3 percent rate increase.
The recommendation has been sent to Texas Department of Insurance Commissioner Mike Geeslin, who will consider it and render a final decision.