| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 46b: Certain words defined
Section: 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.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:46b-44 (if available):
Court decisions that cite this statute:
CLICK HERE.