(a) A title insurance company shall make rates that are not excessive or inadequate, that do not unfairly discriminate between risks in this state that involve essentially the same exposure to loss and expense elements, and that give due consideration to
(1) the desirability for stability of rate structures;
(2) the necessity of assuring the financial solvency of title insurance companies in periods of economic depression by encouraging growth in assets of title insurance companies in periods of high business activity;
(3) the necessity for assuring a reasonable margin of underwriting and operating profit; and
(4) investment income.
(b) A title insurance company shall adopt basic classifications of policies or contracts of title insurance that shall be used as the basis for rate-making.Section: Previous 21.66.310 21.66.330 21.66.340 21.66.350 21.66.360 21.66.370 21.66.380 21.66.390 21.66.400 21.66.401 21.66.410 21.66.420 21.66.430 21.66.450 21.66.460 Next
Last modified: November 15, 2016