Standards. — Guam Code § 18502
Guam Code § 18502 — Standards.. Reproduced from the official Guam Code Annotated, with a citation summary, verification link, and related provisions.
§ 18502. Standards.
An insurer in making rates, and the Commissioner in
approving them, shall apply the standards prescribed in this
section:
(a) Rates shall not be excessive or inadequate, as
herein provided, nor shall they be unfairly discriminatory.
(b) No rate shall be held excessive unless such rate is
unreasonably high for the insurance provided and
reasonable degree of competition does not exist in Guam
COL6/24/2021
with respect to the classification to which such rate is
applicable.
(c) No rate shall be held inadequate unless such rate is
unreasonably low for the insurance provided and the
continued use of such rate endangers the solvency of the
insurer; or unless such rate is unreasonably low for the
insurance provided and the use of such rate by the insurer
will have the effect of destroying competition in Guam
(d) Consideration shall be given, to the extent
applicable, to past and prospective loss experiences, to
prevailing hazards, and to underwriting profits,
contingencies, expenses and other normal business
requirements and factors.
Source: official Guam text · Last verified 2026-08-27
At a glance
- Citation: Guam Code Annotated § 18502
- Jurisdiction: Guam
- Code: Guam Code Annotated
- Subject: Standards.
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Guam Code Annotated. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Guam attorney.
Common questions
What is the source of Guam Code Annotated § 18502?
The text above is transcribed from the Guam Code Annotated, the codified statutes of Guam. The official publisher link appears under "Verify the text" on this page.
What subject does Guam Code Annotated § 18502 address?
It addresses "Standards.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Guam Code Annotated § 18502 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Guam source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Guam law to your facts requires a licensed Guam attorney who can review the specifics.