Massachusetts H1099 proposes reforms to title insurance, including rate transparency and consumer protections during refinancing.

Massachusetts H1099 aims to reform title insurance practices by requiring insurance companies to file quarterly statements detailing their rates with the commissioner and attorney general. These filings must be posted on the division of insurance’s website and are open to public inspection. The bill also mandates written disclosures to buyers of title insurance policies, including details on rates and other charges. Homeowners refinancing through the same lender are entitled to a continuation of their title insurance at no additional cost.

Massachusetts H1099 proposes reforms to title insurance, including rate transparency and consumer protections during refinancing.

Massachusetts H1099 aims to reform title insurance practices by requiring insurance companies to file quarterly statements detailing their rates with the commissioner and attorney general. These filings must be posted on the division of insurance’s website and are open to public inspection. The bill also mandates written disclosures to buyers of title insurance policies, including details on rates and other charges. Homeowners refinancing through the same lender are entitled to a continuation of their title insurance at no additional cost.