383.037. Rates, requirements.
103 words·~1 min read·
/mo/chapter-383/383-037A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
383.037. Rates, requirements. — The rates made by each association licensed pursuant to sections 383.010 to 383.040 shall be subject to the following provisions:
(1)Rates shall not be excessive or inadequate, nor shall they be unfairly discriminatory;
(2)No rate shall be held to be excessive unless such rate is unreasonably high for the insurance provided with respect to the classification to which such rate is applicable;
(3)No rate shall be held to be inadequate unless such rate is unreasonably low for the insurance provided with respect to the classification to which such rate is applicable.
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(L. 1992 S.B. 831)