August 24, 2022
In This Issue:
- TDI Publishes Agent Experience Report 2020, Underwriter Report 2016-20
- Underwriters: TDI Issues Bulletin re: Insurers' Obligation to Pay Settled Claims, Penalties for Failing to Comply
- ICYMI: ALTA Proposes Substantive Changes to Their Best Practices That Could Affect You
- Live and New in 2022: Title 101, Owning and Managing a Texas Title Agency
TDI Publishes Agent Experience Report 2020, Underwriter Report 2016-20
TLTA | Aug. 23, 2022
The Texas Department of Insurance published their
Title Insurance Agent Experience Report Compilation for 2020. Additionally, the
Title Underwriters Experience Report for 2016-2020 was published. Both reports are available for review online.
Texas Insurance Code §2703.153 requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit business data to TDI. TDI uses this data to set title insurance premium rates.
The new agent experience report was completed with data generated during calendar year 2020. The new underwriter experience report was completed with data generated during calendar years 2016-20.
Review Title Insurance Agent Experience Report Compilation for 2020 »
This Report Is Also Available as an Excel File »
Review Title Underwriters Experience Report for 2016-2020 »
This Report Is Also Available as an Excel File »
Looking for older experience reports? You can
find them here.
Underwriters: TDI Issues Bulletin re: Insurers' Obligation to Pay Settled Claims, Penalties for Failing to Comply
TLTA | Aug. 24, 2022
In a bulletin issued Aug. 24, The Texas Department of Insurance (TDI) reminds insurers that Chapter 542 of the Insurance Code and Section 21.203, Title 28 of the Administrative Code, prohibit them from engaging in unfair claim settlement practices.
Review TDI's bulletin, which includes a list of illegal practices related to payment of settled claims.
TLTA Editor's Note: TDI's bulletin is a reminder of existing statutory law and administrative rule related to unfair claim settlement practices.
ICYMI: ALTA Proposes Substantive Changes to Their Best Practices That Could Affect You
TLTA | Aug. 16, 2022
The American Land Title Association (ALTA) announced proposed revisions for their Best Practices Framework. TLTA strongly recommends that you review these extensive proposed changes and provide comments by the September 1 deadline if you have concerns.
Comments on the proposed changes are due no later than Sept. 1, 2022.
Learn more about ALTA's proposed changes »
Download and review the proposed changes »
Learn more about ALTA's best practices program »
ALTA’s announcement last week stated that additional documents will be revised later in the process after the completion of these ALTA Best Practice Framework changes, including revisions to the Best Practices Assessment Procedures.
It’s expected ALTA’s Board of Governors will review the proposed changes in October. Final release of the complete Best Practices Framework is expected to occur early 2023.
Live and New in 2022: Title 101, Owning and Managing a Texas Title Agency
Title 101: An Introduction to Title Insurance in Texas
Presented live Oct. 17-18, 2022
Plano
Our TITLE 101 series was created for title employees who are new to the industry or have experience in only one area of title insurance. This basic, comprehensive 12-part series, which will be presented live in Plano Oct 17-18, provides all the basic training and knowledge you need on the fundamental aspects of Texas title insurance. Presented by TLTA subject-matter experts, this program covers everything from basic property concepts to post closing issues. If you have less than two years of experience in the title industry or are a title professional looking for basic industry knowledge, this program is for you!
Register Now and Book a Hotel Room »
Owning and Managing a Texas Title Agency
Presented live Oct. 17-18, 2022
Plano
TLTA is pleased to present updated training for new title agency owners, those new to a management position, or those in need of a refresher. Presented live in Plano Oct. 17-18 by experienced title industry professionals, this one-of-a-kind program will cover topics such as regulatory compliance, accounting, other key duties and responsibilities of a title agent, and much more. This program is designed to satisfy the requirements of Rule P-28(B) by the Texas Department of Insurance for management personnel of title agents applying to be licensed.
Register Now and Book a Hotel Room »