July 16, 2008
Minerals Coverage Hearing Update
The Texas Department of Insurance (TDI) held a Minerals Coverage Hearing yesterday. Thirteen witnesses spoke on behalf of the title insurance industry in support of the TLTA proposal. Three witnesses from the real estate and legal community provided testimony in opposition to the proposal. The Office of Public Insurance Council (OPIC) was also present and provided testimony.
Click here to view the latest TLTA proposal. Please note that the Board of Directors approved another revision late last week which was submitted at the hearing.
At the conclusion of the hearing, TDI Commissioner Mike Geeslin placed the hearing into recess for at least 60 days and asked that all interested parties work together in the interim to seek any possible solutions to the issue. In response to the Commissioner's request, TLTA will continue our dialogue with all interested parties.
We will keep you updated as this process continues. If you have any additional questions or concerns, please contact TLTA Executive Vice President Leslie Midgley or Director of Government Affairs Aaron Day.