Authors: Representative Dale DeVon
Co-authors: Representative Robert Heaton, Representative Richard Hamm, Representative Terri Jo Austin
Sponsors: Senator Travis Holdman
Co-Sponsors: Senator Frank Mrvan
Requires the department of insurance (department) to create a title insurance consumer comparison tool (tool). Provides: (1) that the filed rates of all insurers that issue title insurance policies in Indiana will be included on the tool; (2) that the information on the tool shall be designed to allow an average consumer of ordinary intelligence to compare and differentiate between substantially similar title insurance rates offered by title insurers; (3) that the tool must be made available to the public free of charge on the department's Internet web site by September 1, 2014; and (4) that, after that date, when an insurer makes a new, approved filing, the department shall make the insurer's rates available on the tool not more than 10 business days after the insurer's application is stamped "filed" by the department.