Texas Title Insurance Guaranty Association

Guaranty Assessment Recoupment Charge

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What is the GARC and how much is it?

As of January 1, 2014 - Title Agents are required to collect a Guaranty Assessment Recoupment Charge ("GARC") fee for each owners and loan (mortgagee) policy issued and remit that quarterly to TTIGA.  The amount of the fee is set by the Texas Department of Insurance, Commissioner, and is $1.80 per policy for the entire year of 2014.  The GARC fee is only charged for one year, and the remittance process is very similar to the Guaranty Fee remittance.

The fees are due on the first day of the month following each calendar quarter.  Per the Title Manual rules, the remittance must be postmarked ON OR BEFORE the Due Date.  If the Due Date falls on a weekend or Holiday, the fees must still be postmarked BEFORE the Due Date.  The Due Dates are:


Calendar Quarter 2014 Ending                              Remittance Due Dates

           March 31                                                                  May 1, 2014

            June 30                                                                 August 1, 2014

        September 30                                                         November 1, 2014

        December 31                                                          February 1, 2015

 

The GARC Remittance Form:
The remittance form is designed by the Title Division of Texas Department of Insurance and promulgated by the Commissioner of Insurance.  Modification or copying of the form is not allowed.  If you have any problems with the form on this page, please let Reed know at 512-480-5120 and she will try to assist you.

GARC Remittance Form-PDF FILLABLE

Frequently Asked Questions (FAQs): 
  1. The GARC checks can be cut from the same escrow account as the GF; however, if you have any GF stragglers, you must remit the GARC with separate checks.  The GARC is deposited into a different account than the GFs were.
  2. This also means we will not accept any wire transfers for either fees any longer.
  3. Procedure-wise for remittance to TTIGA is not much different from the Guaranty Fee remittances. The form is the same, the due dates are the same, but the amount is different.  Read the GF FAQs to give you an idea. 
  4. What is our Firm ID Number?  At the end of 2013, the Texas Department of Insurance switched from the "Agency ID" to using the number associated with Sircon, Sircon is the licensing service provider for Texas (See this announcement from TDI in 2009).  The Firm ID is a 5-digit number (soon to be 6 digits).  If you don't know what your Firm ID No. is, you can download the entire list from TDI's website https://apps.tdi.state.tx.us/sfsdatalookup/StartAction.do or lookup your account with Sircon.

THANK YOU.

This website is to provide general information only about the Texas Title Insurance Guaranty Association (“TTIGA”).  If, after you review these pages, you have any questions that are not answered, you should call, write, or email us (refer to Contact Us page).  For a definitive statement of the laws governing TTIGA, you must refer to the Texas Title Insurance Guaranty Act (the “Act”), Chapter 2602 of the Texas Insurance Code, and the decisions interpreting it.  The information contained herein is subject to change in the event that the Texas Legislature enacts amendments to the Act.  If there is any inconsistency between this site and any applicable law, then such law will control.  We offer links to other websites but do not guaranty the accuracy or completeness of the information on those websites.

Copyright 2008-2014 Texas Title Insurance Guaranty Association
P.O. Box 2212 * Austin * TX * 78768-2212