1. 1. Every title insurer that shall propose its own premium rates and every title insurance rating organization shall propose premium 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. (1) The desirability for stability and responsiveness of rate structures;
   2. (2) The necessity of assuring the financial solvency of title insurance companies in periods of economic depression;
   3. (3) The necessity for paying dividends on the capital stock of title insurance companies sufficient to induce capital to be invested therein; and
   4. (4) A reasonable level of profit for the insurer.
2. 2. Every title insurer 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. 2000 S.B. 894)

Effective 1-1-01

(2002) Senate Bill 894 provision declared unconstitutional as a violation of the clear title requirement of Art. III, Section 23. Home Builders of Greater St. Louis v. State, 75 S.W.3d 267 (Mo.banc).