BILL ANALYSIS Senate Research Center C.S.S.B. 1810 89R21327 SCR-F By: Schwertner Business & Commerce 3/31/2025 Committee Report (Substituted) AUTHOR'S / SPONSOR'S STATEMENT OF INTENT Under current law, each title insurance company and title insurance agent doing business in the state is required to submit a statistical report detailing their profits, loss experience, and operational costs annually to the Texas Department of Insurance (TDI). As the sole insurance product promulgated by TDI, TDI collects the industry data and uses it to fix the premium rates at least once every five years. S.B. 1810 puts timelines in statute for when TDI must request a statistical report from title insurance companies and agents. It also sets a deadline for TDI to process and publish a summary of the received data. (Original Author's/Sponsor's Statement of Intent) C.S.S.B. 1810 amends current law relating to annual statistical reports for fixing title insurance premium rates. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 2703.153, Insurance Code, by adding Subsections (a-1) and (c-1), as follows: (a-1) Requires the Texas Department of Insurance (TDI) to issue a call for the statistical report data required under Subsection (a) (relating to the statistical report containing certain information that title insurance companies and agents are required to submit to TDI annually) to each title insurance agent, not later than March 1 of each year for a statistical report due to TDI on May 1, and to each title insurance company, not later than April 1 of each year for a statistical report due to TDI on June 1. (c-1) Requires TDI to publish on TDI's Internet website a compilation report summarizing the statistical reports submitted under Subsection (a) from all title insurance agents, not later than October 1 of each year, and from all title insurance companies, not later than November 1 of each year. SECTION 2. Makes application of this Act prospective to January 1, 2026. SECTION 3. Effective date: September 1, 2025.
BILL ANALYSIS
Senate Research Center C.S.S.B. 1810
89R21327 SCR-F By: Schwertner
Business & Commerce
3/31/2025
Committee Report (Substituted)
Senate Research Center
C.S.S.B. 1810
89R21327 SCR-F
By: Schwertner
Business & Commerce
3/31/2025
Committee Report (Substituted)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Under current law, each title insurance company and title insurance agent doing business in the state is required to submit a statistical report detailing their profits, loss experience, and operational costs annually to the Texas Department of Insurance (TDI). As the sole insurance product promulgated by TDI, TDI collects the industry data and uses it to fix the premium rates at least once every five years.
S.B. 1810 puts timelines in statute for when TDI must request a statistical report from title insurance companies and agents. It also sets a deadline for TDI to process and publish a summary of the received data.
(Original Author's/Sponsor's Statement of Intent)
C.S.S.B. 1810 amends current law relating to annual statistical reports for fixing title insurance premium rates.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 2703.153, Insurance Code, by adding Subsections (a-1) and (c-1), as follows:
(a-1) Requires the Texas Department of Insurance (TDI) to issue a call for the statistical report data required under Subsection (a) (relating to the statistical report containing certain information that title insurance companies and agents are required to submit to TDI annually) to each title insurance agent, not later than March 1 of each year for a statistical report due to TDI on May 1, and to each title insurance company, not later than April 1 of each year for a statistical report due to TDI on June 1.
(c-1) Requires TDI to publish on TDI's Internet website a compilation report summarizing the statistical reports submitted under Subsection (a) from all title insurance agents, not later than October 1 of each year, and from all title insurance companies, not later than November 1 of each year.
SECTION 2. Makes application of this Act prospective to January 1, 2026.
SECTION 3. Effective date: September 1, 2025.