H.B. No. 5198 mandates the Texas Department of Insurance to conduct a comprehensive study on the title insurance rate-setting system in Texas, comparing it with alternative regulatory models from other states. The study will evaluate the impact of these models on market competition, consumer protection, and the adequacy of rates in the title insurance industry. Key components of the study include a comparative analysis of title insurance costs, an assessment of claims and financial factors, and recommendations for potential legislative or regulatory changes.

The department is required to prepare a report detailing the study's findings and submit it to the legislature by December 1, 2026. The act is set to expire on January 1, 2027, and will take effect on September 1, 2025.