In addition to an adequate reserve as to outstanding losses as required under KRS 304.6- 040, a title insurer shall maintain a guaranty fund or unearned premium reserve of not less than an amount computed as follows:
(1) Ten percent (10%) of the total amount of the risk portion of premiums written in the calendar year for title insurance contracts shall be assigned originally to the reserve.
(2) During each of the twenty (20) years next following the year in which the title insurance contract was issued, the reserve applicable to the contract shall be reduced by five percent (5%) of the original amount of such reserve.