Sec. 3502.102. RATE STANDARDS. (a) A mortgage guaranty insurance rate, rating plan, or charge may not be excessive, inadequate, or unfairly discriminatory and must be reasonable with respect to the benefits provided.
(b) This chapter does not require the department to:
(1) establish standard and absolute rates or a single and uniform rate for each risk or risks; or
(2) compel all insurers to adhere to rates previously filed by other insurers.
(c) The department may accept different rates for different insurers for the same risk or risks on mortgage guaranty insurance. The department may accept different rates for different insurers as filed by any authorized insurer unless the department finds that the filing does not meet the requirements of this chapter.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
Section: Previous 3502.002 3502.003 3502.004 3502.051 3502.052 3502.053 3502.101 3502.102 3502.103 3502.104 3502.105 3502.106 3502.107 3502.108 3502.151 NextLast modified: September 28, 2016