N.J.S.A 17:46B-44. Proposing of rates

17:46B-44. Proposing of rates

a. Every title insurance company that shall propose its own rates, and every title insurance rating organization, shall propose rates that are not excessive nor inadequate for the safety and soundness of any title insurer, which do not unfairly discriminate between risks in this State which involve essentially the same exposure to loss and expense elements, and which shall give due consideration to the following matters:

(1) The desirability for stability and responsiveness of rate structures;

(2) The necessity of assuring the financial solvency of title insurance companies in periods of economic depression;

(3) The necessity for paying dividends on the capital stock of title insurance companies sufficient to induce capital to be invested therein; and

(4) A reasonable level of profit for the insurer.

b. Every title insurance company that shall propose its own rates, and every title insurance rating organization, may adopt basic classifications of policies or contracts of title insurance which shall be used as the basis for rateS.

L.1975, C. 106, S.43, eff. May 29, 1975.

Case(s):

Look up case for New Jersey Statute 17:46B-44. Proposing of rates

Original Text maintained by the State of New Jersey:

NJ Maintained Unanotated Statutes References to 17:46B-44. Proposing of rates

Previous: 17:46B-43. Justification for rates Next: 17:46B-45. Approval or disapproval of filings

Disclaimer: Always check for the most up to date language of a statute. Every time a new law is enacted it has a possibility of changing the wording of a statute or override case law. These pages were created to assist in looking up and migrating between statutes easily. No accuracy is guaranteed. If you need help with researching law, contact an attorney.

Related Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.