Code of the District of Columbia

§ 31–5031.17. Premium rate filings and standards.

(a) A title insurer or title insurance producer may charge any rates regulated by the District of Columbia after January 1, 2011; provided, that in accordance with the premium rate schedule and manual filed by the title insurer with and approved by the Commissioner in accordance with applicable law and rules governing rate filings. The Commissioner may provide, by rule, for interim use of premium rate schedules in effect prior to January 1, 2011.

(b) The Commissioner may establish rules, including rules providing statistical plans, for use by all title insurers and title insurance producers in the recording and reporting of revenue, loss, and expense experience in such form and detail as is necessary to aid him or her in the establishment of rates and fees.

(c) The Commissioner may require that the information provided under this section be verified by oath of the insurer’s or title insurance producer’s president or vice president or secretary or actuary, as applicable. The Commissioner may further require that the information required under this section be subject to an audit conducted by an independent certified public accountant. The Commissioner may establish a minimum threshold level at which an audit would be required.

(d) Information filed with the Commissioner relating to the experience of a particular producer shall be kept confidential, subject to subchapter II of Chapter 5 of Title 2 [§ 2-531 et seq.].