The loan policy premium must be calculated at the sale rate. Using the non-sale rate results in an incorrect premium and creates a deviation from the filed TIRBOP rate, which is in violation of Pennsylvania’s filed-rate requirements.
Check your figures. The owner policy premium paid exceeds the loan policy premium at the sale rate. No additional premium is due. Confirm the loan policy premium was calculated at the sale rate and that the owner policy premium entered is the amount actually paid on the acquisition file before issuing.