Title Insurance Premiums Jump 4.3% in the First Quarter of 2010

Title insurance premiums written during the first quarter of 2010 inched up 4.3 percent when compared to the same quarter last year, the American Land Title Association (ALTA) recently reported.

According to ALTA’s preliminary Market Share Analysis, the title insurance industry generated $2.07 billion in title insurance premiums during the first quarter of this year, up from $1.98 billion during the first quarter of 2009.

“While the housing market is still in the sickbed, its vital signs are stabilizing,” said Kurt Pfotenhauer, CEO of

Washington, D.C.-based ALTA. “With transactions still being closed from the homebuyer tax credit, we are hopeful positive trends will carry through into the second quarter and beyond.”

In total, 30 states experienced year-over-year increases in title insurance premiums, ALTA said.

States with the largest increase in premiums during the first quarter of this year compared to the same period a year ago were Iowa, Maine, Nebraska, and Minnesota. Meanwhile, California, Texas, Florida, New York, and Pennsylvania generated the most title insurance premiums during the quarter.

And signifying the growing importance of title insurance outside the United States, Canada reported a 57 percent increase in title insurance premiums, ALTA said.

“The financial security that title insurance provides consumers, lenders, and investors is something that other countries such as Canada are embracing,” Pfotenhauer said. “The use of title insurance helps create a uniform standard of purchasing real estate within a local community based process and allow consumers to enjoy lower overall costs associated with purchasing property.”

Read the report