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Committee advances title‑insurance transparency bill requiring premium disclosures
Summary
House Bill 569 would require title companies to disclose sharing of premiums and clarify which company accepts liability; sponsor said consumers keep the right to choose title companies and the issuing company must accept liability. The committee advanced the bill 19-0.
Chairman Farmer, sponsor of HB 569, told the committee the bill is aimed at transparency in the title insurance industry so consumers "have the opportunity to know where their money is going." He said the measure requires disclosure when title companies share premiums and clarifies liability so consumers know who to contact if a claim arises.
Leader Camper and other members asked whether the amendment addressed subcommittee testimony and underwriter concerns; the sponsor said the amendment alleviated those issues and made clear only the issuing title company can accept liability. Representative Hemmer confirmed consumers can still choose their title company at closing. The committee voted 19 ayes, 0 nays and 2 present non‑voting, and the bill moved to the next committee.
