2024 Membership

Mission

The mission of the Title Insurance (C) Task Force is to study issues related to title insurers and title insurance producers.

2025 Proposed Charges

The Title Insurance (C) Task Force will:

A. Discuss and/or monitor issues and developments affecting the title insurance industry, and provide support and expertise to other NAIC committees, task forces and/or working groups, or outside entities, as appropriate.

B.  Review and assist various regulatory bodies in combating fraudulent and/or unfair real estate settlement activities. Such efforts could include working with the Antifraud (D) Task Force and other NAIC committees, task forces, and/or working groups to combat mortgage fraud and mitigating title agent defalcations through the promotion of closing protection letters (CPLs) and other remedies.

C. Consult with the Consumer Financial Protection Bureau (CFPB) and other agencies responsible for information, education, and disclosure for mortgage lending, closing, and settlement services about the role of title insurance in the real estate transaction process.

D. Update the Survey of State Laws Regarding Title Data and Title Matters report and the Title Insurance Consumer Shopping Tool Template as needed.

E.  Stay abreast of consumer issues and complaints submitted to states regarding title insurance. Consider regulatory best practices or standards related to consumer protection.

F.   Evaluate alternative title products and provide guidance to state insurance regulators as needed.

2024 Adopted Charges

The Title Insurance (C) Task Force will:

1.    Discuss and/or monitor issues and developments impacting the title insurance industry, and provide support and expertise to other NAIC committees, task forces and/or working groups, or outside entities, as appropriate.

2.    Review and assist various regulatory bodies in combating fraudulent and/or unfair real estate settlement activities.   Such efforts could include working with the Antifraud (D) Task Force and other NAIC committees, task forces   and/or working groups to combat mortgage fraud and mitigating title agent defalcations through the promotion of   closing protection letters (CPLs) and other remedies.

3.    Consult with the Consumer Financial Protection Bureau (CFPB) and other agencies responsible for information; education; and disclosure for mortgage lending, closing and settlement services about the role of title insurance in the real estate transaction process.

4.   Update the Survey of State Insurance Laws Regarding Title Data and Title Matters, 2019.

5.   Stay abreast of consumer issues and complaints submitted to states regarding title insurance. Consider regulatory best practices or standards related to consumer protection. (revised charge)

6.   Evaluate alternative title products and provide guidance to state insurance regulators as needed. (new charge)

NAIC Support Staff: Aaron Brandenburg/Anne Obersteadt