February 2, 2016      5:44 PM
Updated: Texas Association of Business pushes for more competition in title insurance business
"Most people don't have any understanding of the fact that the prices are set and there's no competition," Hammond said
Editor’s note: Following our
original report earlier in the day, the Texas Land Title Association weighed in
on the proposals. This story is updated to reflect that – SB
A
legislative fight over the Texas title insurance system is brewing as a pair of
lobby organizations begins a media blitz in favor of reform while the title
insurance industry itself says it is “well managed” and has worked well for
nearly a century.
On
Tuesday, the Texas Association of Business and the Texas Public Policy Foundation's
blitz began with a press conference in the Speaker's Committee Room in the
Capitol. Bill Hammond, CEO of the
association, said they are "dedicating substantial sums of money" to
advertising in media outlets across the state, and on Facebook and Google Ads.
"Our
hope is to have Texans contacting their elected officials, asking them about
the issue, and urging them to give them choice," Hammond said in a
telephone interview.
By Eva Ruth Moravec
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