Let's fix the problem instead of charging consumers a higher fee for coverage.
When a consumer or a lending institution hands money over to a PA licensed title agent, they do so under the perceived umbrella of regulatory oversight. You may be surprised, however, to know the our insurance regulations contain no guidelines for the management of the title agent's escrow account. In fact, it's the PA Dept. of Banking that seems to have jurisdiction over these escrows and that seems like a HUGE disconnect to me.
If the title insurance underwriters can't get it together to set up rules, train and monitor agents, then I say it's time we amend our title insurance law to pull title insurance escrows under the umbrella of the PA Dept. of Insurance and set up guidelines, then police the industry.
We ought not to be putting multiple millions of dollars into the hands of people who are untrained and unqualified to manage it .