What does TIRBOP do?

A Title Insurance Company is required by law to file rates and forms

Every title insurance company which issues policies covering Pennsylvania property is required by law to file its rates, forms and manual of classifications with the Insurance Department. 40 P.S. §910-37(a).

The Role of a Rating Bureau

Pennsylvania law authorizes the formation of a title insurance rating organization. 40 P.S. §910-41. In Pennsylvania, this rating organization is the Title Insurance Rating Bureau of Pennsylvania [TIRBOP]. A title insurance company may satisfy its filing obligation “by becoming a member of, or subscriber to, a licensed rating organization which makes such filings, and by authorizing the [insurance] commissioner to accept such filings on its behalf”. 40 P.S. §910-37(b).

The Insurance Department has appointed TIRBOP as its statistical agent for title insurance. In that role, TIRBOP facilitates the collection of statistical data from all licensed title insurance companies.

Through the cooperative efforts of its members, TIRBOP

     1.  facilitates the collection of statistical data;

     2.  files proposed rates, policies and endorsement forms; and

     3.  publishes a Rate Manual which includes a schedule of rates and describes policy and endorsement forms.