Find Laws Find Lawyers Free Legal Forms USA State Laws

MARYLAND STATUTES AND CODES

Section 11-402 - Rate making principles generally.

§ 11-402. Rate making principles generally.
 

(a)  In general.- All title insurance rates shall be made in accordance with this section. 

(b)  Reasonable and adequate rates.- Rates shall be reasonable and adequate for the class of risks to which they apply. 

(c)  Unfairly discriminatory rates.- Rates may not discriminate unfairly between risks that involve essentially the same hazards and expense elements. 

(d)  Factors to be considered.- Due consideration shall be given to: 

(1) past and prospective loss experience within and outside the State; 

(2) a reasonable margin for profit and contingencies; 

(3) the cost of participating insurance; 

(4) the percentage to be allocated to reserve; 

(5) operating expenses; and 

(6) all other relevant factors fairly attributable to the business of title insurance. 

(e)  Classifications of guarantees.-  

(1) Guarantees may be grouped by classifications for the establishment of rates and minimum premiums. 

(2) A special or unusual guarantee that is more hazardous to the title insurer than ordinary title guarantees because of an alleged irregularity or a difference in interpretation or application of law that might affect marketability of title, may be classified individually and separately according to the circumstances peculiar to each case. 
 

[An. Code 1957, art. 48A, § 242A; 1997, ch. 35, § 2.] 
 

Maryland Forms by Issue

Maryland Abortion Forms
Maryland Administration/Filing Fees Forms
Maryland Business Forms
Maryland Court Forms
> Criminal
> DUI
> Probate
> Civil (District)
> Mediation
> Small Claims
Maryland Divorce Forms
Maryland Expungement Forms
Maryland Family Forms
Maryland Guardianship Forms
Maryland Gun Forms
Maryland Name Change Forms
Maryland Other Forms
Maryland Tax Forms

Maryland Law

Maryland State Laws
    > Maryland Child Support
    > Maryland Gun Law
    > Maryland Statutes
Maryland Court
    > District Court of Maryland
    > Maryland Court Cases
    > Maryland Court Records
    > Maryland Judiciary
    > Maryland Judiciary Case Search
    > Mcculloch v. Maryland
Maryland Tax
    > Maryland State Tax
Maryland Labor Laws
    > Maryland Unemployment
Maryland Agencies
    > Maryland Department of Assessments and Taxation
    > Maryland Department of Motor Vehicles
    > Maryland State Police

Maryland Court Map

Tips