Albuquerque Journal (Albuquerque, NM)

Study Deregulation Of Title Insurance.(Editorial Page)


As the state insurance superintendent stands poised to announce new title insurance rates at the end of this month, he has also raised the question: Is it time to deregulate an industry that is part of most real estate transactions in the state?

State government's viewpoint is that rate-making should be replaced with "some form of open competition," in the words of Insurance Superintendent Don Letherer. Rate hearings alone cost $200,000 a year, burdening regulators with the responsibility of determining based on days of hearings what price title insurance agencies should charge for their services and what profit agents should earn. New Mexico is one of only three states that regulates virtually every aspect of the title insurance business. …

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