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Bill

Bill

SCR 2

REQUESTING THE INSURANCE COMMISSIONER TO CONDUCT A STATEWIDE STUDY ON TITLE INSURANCE.

2025 Regular Session Introduced by Stanley Chang

Hawaii requests its Insurance Commissioner conduct a statewide study on title insurance industry practices, pricing, and consumer protection effectiveness.

Referred to CPN.
#dcca #homeownership #housing #insurancedivision #titleinsurance
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Bill Summary · SCR 2

Legislative bill overview

SCR 2 is a concurrent resolution requesting Hawaii's Insurance Commissioner to conduct a comprehensive statewide study on the title insurance industry. The resolution asks the commissioner to examine the market structure, pricing practices, consumer impacts, and regulatory effectiveness within Hawaii's title insurance sector, with findings to be reported back to the legislature.

Why is this important

Title insurance is a critical but often opaque component of real estate transactions, representing a significant cost to homebuyers in Hawaii's expensive housing market. A statewide study could identify whether current market practices are competitive, whether consumers are adequately protected, and whether regulatory reforms might improve affordability or transparency in one of the most important financial transactions most people undertake.

Potential points of contention

  • Industry resistance: Title insurance companies may view scrutiny as threatening established business models and profit margins, potentially lobbying against thorough examination of pricing practices
  • Study scope and cost: Questions about what specifically should be studied, how comprehensive the analysis should be, and who bears the study's costs remain undefined
  • Regulatory jurisdiction: Uncertainty about what enforcement actions or regulatory changes might follow from study results, and whether the Insurance Commissioner has adequate authority to implement recommendations

Compiled from official sources — confirm details with the bill’s official record.

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