AM Best: Title Insurance Market Perseveres Amid Upheaval and Economic Uncertainty

October 7, 2020

Lockdown measures, business closures, and travel stoppages following the onset of COVID-19 pandemic at the end of the first quarter brought the global economy to a near halt. In the second quarter, the U.S. economy, in its first economic recession since the global financial crisis, registered its worst quarterly contraction—almost 32 percent—since World War II, following a contraction of 5 percent in first quarter. The title insurance industry has persevered, however, thanks in large part to persistent low interest rates propelling refinance volume, while sales of both existing and newly built homes have increased. Read on as AM Best provides analysis about the industry's performance in its latest market segment report.

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