{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4608.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4608.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4608.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4608.html"}],"law_id":74319,"edition_id":1,"section_id":74319,"structure_id":13850,"section_number":"38.2-4608","catch_line":"Title insurance rates","history":"1952, c. 317, \u00a7 38.1-728; 1986, c. 562; 2005, c. 848.","full_text":"A\n\nTitle insurance risk rates shall be reasonable and adequate for the class of risks to which they apply. Risk rates shall not be unfairly discriminatory between risks involving essentially the same hazards and expense elements. The rates may be fixed in an amount sufficient to furnish a reasonable margin for profit after provision for (i) probable losses as indicated by experience within and without this Commonwealth, (ii) exposure to loss under policies, (iii) allocations to reserves, (iv) costs of participating insurance, (v) operating costs, and (vi) other items of expense fairly attributable to the operation of a title insurance business.B\n\nPolicies may be grouped into classes for the establishment of rates. A title insurance policy that is unusually hazardous to the title insurance company because of an alleged defect or irregularity in the title insured or because of uncertainty regarding the proper interpretation or application of the law involved, may be classified separately according to the facts of each case.C\n\nTitle insurance risk rates shall not include charges for abstracting, record searching, certificates regarding the record title, escrow services, closing services, and other related services that may be offered or furnished, or the cost and expenses of examinations of titles.D\n\nAny title insurance company may issue, publish and use price schedules for title insurance and for any separate or related services, or schedules setting forth one price covering the risk rate and the charges for any separate or related services.E\n\nA title insurance company or title insurance agent may charge risk rates that it negotiates with any potential insured. Such negotiated rates shall be presumed not to be unfairly discriminatory and not to violate § 38.2-509 if such rates comply in all other respects with subsection A.","order_by":null,"text":{"0":{"id":267170,"text":"Title insurance risk rates shall be reasonable and adequate for the class of risks to which they apply. Risk rates shall not be unfairly discriminatory between risks involving essentially the same hazards and expense elements. The rates may be fixed in an amount sufficient to furnish a reasonable margin for profit after provision for (i) probable losses as indicated by experience within and without this Commonwealth, (ii) exposure to loss under policies, (iii) allocations to reserves, (iv) costs of participating insurance, (v) operating costs, and (vi) other items of expense fairly attributable to the operation of a title insurance business.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":267171,"text":"Policies may be grouped into classes for the establishment of rates. A title insurance policy that is unusually hazardous to the title insurance company because of an alleged defect or irregularity in the title insured or because of uncertainty regarding the proper interpretation or application of the law involved, may be classified separately according to the facts of each case.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":267172,"text":"Title insurance risk rates shall not include charges for abstracting, record searching, certificates regarding the record title, escrow services, closing services, and other related services that may be offered or furnished, or the cost and expenses of examinations of titles.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":267173,"text":"Any title insurance company may issue, publish and use price schedules for title insurance and for any separate or related services, or schedules setting forth one price covering the risk rate and the charges for any separate or related services.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":267174,"text":"A title insurance company or title insurance agent may charge risk rates that it negotiates with any potential insured. Such negotiated rates shall be presumed not to be unfairly discriminatory and not to violate § 38.2-509 if such rates comply in all other respects with subsection A.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":13850,"edition_id":1,"name":"Title Insurance","identifier":"46","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:46:04","date_modified":"2026-06-26 03:46:04","permalink":{"id":217153,"object_type":"structure","relational_id":13850,"identifier":"46","token":"38.2\/46","url":"\/38.2\/46\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60163,"structure_id":13850,"section_number":"38.2-4600","catch_line":"Class of insurance and insurance companies to which chapter applies","url":"\/38.2-4600\/","token":"38.2\/46\/38.2-4600","metadata":false},{"id":61532,"structure_id":13850,"section_number":"38.2-4601","catch_line":"Title insurance company defined","url":"\/38.2-4601\/","token":"38.2\/46\/38.2-4601","metadata":false},{"id":65120,"structure_id":13850,"section_number":"38.2-4601.1","catch_line":"Title insurance agency or agent defined","url":"\/38.2-4601.1\/","token":"38.2\/46\/38.2-4601.1","metadata":false},{"id":73355,"structure_id":13850,"section_number":"38.2-4602","catch_line":"What laws applicable","url":"\/38.2-4602\/","token":"38.2\/46\/38.2-4602","metadata":false},{"id":55288,"structure_id":13850,"section_number":"38.2-4603","catch_line":"What companies may transact title insurance","url":"\/38.2-4603\/","token":"38.2\/46\/38.2-4603","metadata":false},{"id":67063,"structure_id":13850,"section_number":"38.2-4604","catch_line":"Investment in plant and equipment","url":"\/38.2-4604\/","token":"38.2\/46\/38.2-4604","metadata":false},{"id":54872,"structure_id":13850,"section_number":"38.2-4605","catch_line":"Interim binders","url":"\/38.2-4605\/","token":"38.2\/46\/38.2-4605","metadata":false},{"id":79727,"structure_id":13850,"section_number":"38.2-4606","catch_line":"Forms to be filed with Commission","url":"\/38.2-4606\/","token":"38.2\/46\/38.2-4606","metadata":false},{"id":60596,"structure_id":13850,"section_number":"38.2-4607","catch_line":"Maximum risk","url":"\/38.2-4607\/","token":"38.2\/46\/38.2-4607","metadata":false},{"id":74319,"structure_id":13850,"section_number":"38.2-4608","catch_line":"Title insurance rates","url":"\/38.2-4608\/","token":"38.2\/46\/38.2-4608","metadata":false},{"id":79630,"structure_id":13850,"section_number":"38.2-4609","catch_line":"Loss or claim reserves","url":"\/38.2-4609\/","token":"38.2\/46\/38.2-4609","metadata":false},{"id":60467,"structure_id":13850,"section_number":"38.2-4610","catch_line":"Repealed","url":"\/38.2-4610\/","token":"38.2\/46\/38.2-4610","metadata":false},{"id":80196,"structure_id":13850,"section_number":"38.2-4610.1","catch_line":"Unearned premium reserve","url":"\/38.2-4610.1\/","token":"38.2\/46\/38.2-4610.1","metadata":false},{"id":59674,"structure_id":13850,"section_number":"38.2-4610.1:1","catch_line":"Unearned premium reserves of foreign title insurance companies","url":"\/38.2-4610.1_1\/","token":"38.2\/46\/38.2-4610.1_1","metadata":false},{"id":60470,"structure_id":13850,"section_number":"38.2-4610.2","catch_line":"Loss reserves","url":"\/38.2-4610.2\/","token":"38.2\/46\/38.2-4610.2","metadata":false},{"id":56376,"structure_id":13850,"section_number":"38.2-4611","catch_line":"Repealed","url":"\/38.2-4611\/","token":"38.2\/46\/38.2-4611","metadata":false},{"id":77761,"structure_id":13850,"section_number":"38.2-4613","catch_line":"Unearned premium reserve to be held and administered for benefit of policyholders","url":"\/38.2-4613\/","token":"38.2\/46\/38.2-4613","metadata":false},{"id":78129,"structure_id":13850,"section_number":"38.2-4614","catch_line":"Prohibition against payment or receipt of title insurance kickbacks, rebates, commissions and other payments; penalty","url":"\/38.2-4614\/","token":"38.2\/46\/38.2-4614","metadata":false},{"id":85851,"structure_id":13850,"section_number":"38.2-4615","catch_line":"Exchange of information","url":"\/38.2-4615\/","token":"38.2\/46\/38.2-4615","metadata":false},{"id":57124,"structure_id":13850,"section_number":"38.2-4616","catch_line":"Notification to buyers of the availability of owner's title insurance","url":"\/38.2-4616\/","token":"38.2\/46\/38.2-4616","metadata":false}],"previous_section":{"id":60596,"structure_id":13850,"section_number":"38.2-4607","catch_line":"Maximum risk","url":"\/38.2-4607\/","token":"38.2\/46\/38.2-4607","metadata":false},"next_section":{"id":79630,"structure_id":13850,"section_number":"38.2-4609","catch_line":"Loss or claim reserves","url":"\/38.2-4609\/","token":"38.2\/46\/38.2-4609","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4608\/","history_text":"

This law was first created in 1952. The record of its establishment is cataloged in chapter 317 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 2005, chapter 848<\/a>.<\/p>","references":[{"id":66943,"section_number":"38.2-1812.2","catch_line":"Administrative charges in excess of premium prohibited; exceptions","order_by":null,"url":"\/38.2-1812.2\/"}],"refers_to":[{"id":66721,"section_number":"38.2-509","catch_line":"Rebates","order_by":null,"url":"\/38.2-509\/"}],"permalink":{"id":217191,"object_type":"law","relational_id":74319,"identifier":"38.2-4608","token":"38.2\/46\/38.2-4608","url":"\/38.2-4608\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4608\/","token":"38.2\/46\/38.2-4608","dublin_core":{"Title":"Title insurance rates","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4608","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Title insurance<\/span> risk rates<\/span><\/span> shall be reasonable and adequate for the class of risks to which they apply. Risk rates<\/span><\/span> shall not be unfairly discriminatory between risks involving essentially the same hazards and expense elements. The rates<\/span><\/span> may be fixed in an amount sufficient to furnish a reasonable margin for profit after provision for (i) probable losses as indicated by experience within and without this Commonwealth, (ii) exposure to loss under policies, (iii) allocations to reserves, (iv) costs of participating insurance<\/span>, (v) operating costs, and (vi) other items of expense fairly attributable to the operation of a title insurance<\/span> business. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Policies may be grouped into classes for the establishment of rates<\/span><\/span>. A title insurance policy that is unusually hazardous to the title insurance company<\/span> because of an alleged defect or irregularity in the title insured or because of uncertainty regarding the proper interpretation or application of the law<\/span> involved, may be classified separately according to the facts<\/span> of each case. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Title insurance risk rates<\/span><\/span> shall not include charges for abstracting, record searching, certificates regarding the record title, escrow services, closing services, and other related services that may be offered or furnished, or the cost and expenses of examinations of titles. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Any title insurance company<\/span> may issue<\/span>, publish and use price schedules<\/span> for title insurance and for any separate or related services, or schedules<\/span> setting forth one price covering the risk rate<\/span> and the charges for any separate or related services. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A title insurance company<\/span> or title insurance agent may charge risk rates<\/span><\/span> that it negotiates with any potential insured. Such negotiated rates<\/span><\/span> shall be presumed not to be unfairly discriminatory and not to violate § 38.2-509<\/a> if such rates<\/span><\/span> comply in all other respects with subsection A. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTITLE INSURANCE RATES (\u00a7 38.2-4608)\n\nA. Title insurance risk rates shall be reasonable and adequate for the class of\nrisks to which they apply. Risk rates shall not be unfairly discriminatory\nbetween risks involving essentially the same hazards and expense elements. The\nrates may be fixed in an amount sufficient to furnish a reasonable margin for\nprofit after provision for (i) probable losses as indicated by experience within\nand without this Commonwealth, (ii) exposure to loss under policies, (iii)\nallocations to reserves, (iv) costs of participating insurance, (v) operating\ncosts, and (vi) other items of expense fairly attributable to the operation of a\ntitle insurance business.\n\nB. Policies may be grouped into classes for the establishment of rates. A title\ninsurance policy that is unusually hazardous to the title insurance company\nbecause of an alleged defect or irregularity in the title insured or because of\nuncertainty regarding the proper interpretation or application of the law\ninvolved, may be classified separately according to the facts of each case.\n\nC. Title insurance risk rates shall not include charges for abstracting, record\nsearching, certificates regarding the record title, escrow services, closing\nservices, and other related services that may be offered or furnished, or the\ncost and expenses of examinations of titles.\n\nD. Any title insurance company may issue, publish and use price schedules for\ntitle insurance and for any separate or related services, or schedules setting\nforth one price covering the risk rate and the charges for any separate or\nrelated services.\n\nE. A title insurance company or title insurance agent may charge risk rates that\nit negotiates with any potential insured. Such negotiated rates shall be\npresumed not to be unfairly discriminatory and not to violate § 38.2-509 if\nsuch rates comply in all other respects with subsection A.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-728; 1986, c. 562; 2005, c. 848.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}