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The title insurance industry: infusing innovation and competition

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  • Thomas A. Hemphill

    (University of Michigan-Flint)

Abstract

Predominantly found in the U.S., title insurance is a form of indemnity insurance against financial loss from certain defects in title to real property, as well as from the invalidity or unenforceability of mortgage loans. In the U.S. title insurance industry, the so-called “Big Four” companies make up the overwhelming premium volume of the title insurance industry’s market share (85.3% of $14.8 billion in 2017). The cost-effective, technological innovation embraced by new fintech entrants, and adoption by existing companies recognizing the need to incorporate this innovation for their competitive survival, will transform the oligopolistic nature of the title insurance industry.

Suggested Citation

  • Thomas A. Hemphill, 2019. "The title insurance industry: infusing innovation and competition," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 54(3), pages 177-181, July.
  • Handle: RePEc:pal:buseco:v:54:y:2019:i:3:d:10.1057_s11369-019-00135-6
    DOI: 10.1057/s11369-019-00135-6
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    References listed on IDEAS

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    1. Arrunada, Benito & Garoupa, Nuno, 2005. "The Choice of Titling System in Land," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 709-727, October.
    2. Shapiro, Carl, 2018. "Antitrust in a time of populism," International Journal of Industrial Organization, Elsevier, vol. 61(C), pages 714-748.
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