Utah Admin. Code R590-225-10 - Additional Procedures for Title Rate Filings
(1) A title rate and a supplementary
information filing are file before use filings and shall be filed 30 days
before use.
(2)
(a) A change or amendment to a schedule of
rates shall state the effective date of the change or amendment, which may not
be less than 30 days after the date of filing.
(b) A change or amendment remains in force
for a period of at least 90 days from its effective date.
(3)
(a)
Supplementary information and rate filings shall be supported and justified by
each insurer.
(b) A justification
shall include:
(i) submission of all factors
used in determining initial supplementary information and rates or changes in
existing supplementary information and rates; and
(ii) a complete explanation of each factor
and how it is used.
(4) Rates that vary by risk classification,
such as extended coverage or standard coverage, and discount factors, such as
refinance, subdivision, or construction for purpose of resale discounts, shall
be supported by differences in expected losses or expenses.
(5) A rate may not be filed or used that
requires a title insurer, an agency title insurance producer, or an individual
title insurance producer to operate at less than the cost of doing business or
inadequately underwrite a title insurance policy.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.