Organization & Governance
What is WATIRO?
The Washington Title Insurance Rating Organization (WATIRO) is a licensed rating organization authorized under Chapter 48.29 RCW. WATIRO is composed of title insurers operating in Washington and develops collective rates, rating rules, and standardized forms for use by participating members. All rate and form filings are subject to review and oversight by the Washington State Office of the Insurance Commissioner (OIC).
Who is required to use WATIRO rates and forms?
All licensed title insurance underwriters and their appointed title insurance agents who are members or subscribers of the Washington Title Insurance Rating Organization must adhere to WATIRO’s filed and approved rate schedules, rules, and standardized coverage forms.
Transition Rules
How does the newly approved rate manual affect pending transactions and outstanding rate quotes?
The application of a new or revised rate manual to existing title orders, commitments, and pending transactions is governed by Washington administrative law under WAC 284-29B-190 (Effect of new rates on outstanding commitments for title insurance).
When a commitment states a specified policy amount and premium, and the transaction closes within 90 days from the date the commitment was issued, the title insurer may use the rate that was in effect on the date the commitment was issued, even if new rates have become effective in the interim.
For full statutory details regarding changes in policy amounts or unstated premiums prior to closing, please review the complete rule:
Read WAC 284-29B-190 on the Washington State Legislature Website ↗
If a transaction is rated under a pre-WATIRO rate manual based on its open date but closes after October 5, 2026, can endorsement forms still be modified?
Yes. The endorsement coverage and form modifications remain tied to the specific rate manual and underwriting rules under which the order is rated.
If a transaction qualifies to be rated under a pre-WATIRO manual pursuant to WAC 284-29B-190, the corresponding form guidelines and manual rules in effect at the time the commitment was issued continue to govern that transaction through closing.
Can an endorsement that is unavailable under the WATIRO manual still be issued if the order was opened prior to October 5, 2026, and closes within 90 days?
Yes. If an order is opened under a pre-WATIRO manual prior to October 5, 2026, and closes within the statutory 90-day window under WAC 284-29B-190, the title insurer may issue any endorsement form that was approved and available under that legacy rate filing.
Where can I find prior or historical WATIRO rate manuals?
Historical rate manuals and superceded form endorsements are maintained in the Rate Manuals archive section on our homepage.
Rate Methodology & Actuarial Analysis
Does the WATIRO rate analysis account for inflation?
No. The actuarial analysis does not apply a separate inflation trend to historical losses or expenses. WATIRO's actuaries concluded that title insurance premiums are inherently sensitive to changes in property values, which helps offset many inflation-related cost increases. The analysis also relies on historical expense ratios, including recent years that reflected elevated inflationary conditions.
Does the analysis account for employee salaries?
Yes. Personnel costs (including employee compensation, payroll taxes, and employee benefits) are reflected within the operating expense data reported by title insurers and agents. However, the filing does not separately analyze wages or apply a specific salary inflation factor. Salaries are included as part of the actual historical expense experience used in the rate analysis.
Does the analysis account for business operating expenses?
Yes. The proposed rates are based on actual title insurance operating expenses, including field office, corporate, and agent expenses. Expenses related to non-title activities, such as escrow and closing services, were excluded so that the analysis reflects only the costs associated with issuing title insurance policies and commitments.
Does the analysis include both agent and underwriter data?
Yes. The filing incorporates expense and premium information from major title insurance underwriters as well as expense information derived from agent statistical reporting. This allows the analysis to reflect the cost of providing title insurance services through both direct operations and agency channels.
How are agent expenses reflected in the analysis?
Rather than treating the portion of premium retained by agents as a proxy for cost, the filing uses estimates of agents' actual expenses derived from regulatory statistical reports and company data. Separate methodologies were used for independent and affiliated agents to estimate the cost of providing title insurance services throughout Washington.