1206                            LAWS OF MARYLAND                      [CH. 553

regulation by insurance law or by insurance authorities of this or
any other state of the United States or any province of Canada, and
to any other coverage the inclusion of which may be approved by
the Commissioner. In the absence of such definition such term shall
not include group insurance, or benefits provided by union wel-
fare plans or by employer or employee benefit organizations. For the
purpose of applying the foregoing policy provision with respect to
any insured, any amount of benefit provided for such insured pur-
suant to any compulsory benefit statute (including any workmen's
compensation or employer's liability statute) whether provided by
a governmental agency or otherwise shall in all cases be deemed to
be "other valid coverage" of which the insurer has had notice. In
applying the foregoing policy provision no third party liability cov-
erage shall be included as "other valid coverage".

458. Relation of Earnings to Insurance.

(a)   There may be a provision as follows:

"Relation of Earnings to Insurance: If the total monthly amount
of loss of time benefits promised for the same loss under all valid
loss of time coverage upon the insured, whether payable on a weekly
or monthly basis, shall exceed the monthly earnings of the insured
at the time disability commenced or his average monthly earnings
for the period of two years immediately preceding a disability for
which claim is made, whichever is the greater, the insurer will be
liable only for such proportionate amount of such benefits under this
policy as the amount of such monthly earnings or such average
monthly earnings of the insured bears to the total amount of monthly
benefits for the same loss under all such coverage upon the insured
at the time such disability commences and for the return of such
part of the premiums paid during such two years as shall exceed
the pro rata amount of the premiums for the benefits actually paid
hereunder; but this shall not operate to reduce the total monthly
amount of benefits payable under all such coverage upon the insured
below the sum of $200 or the sum of the monthly benefits specified
in such coverages, whichever is the lesser, nor shall it operate to
reduce benefits other than those payable for loss of time."

(b)   The foregoing policy provision may be inserted only in a
policy which the insured has the right to continue in force subject
to its terms by the timely payment of premiums (1) until at least
age 50, or (2) in the case of a policy issued after age 44, for at least
five years from its date of issue. The insurer may, at its option,
include in this provision a definition of "valid loss of time coverage",
approved as to form by the Commissioner, which definition shall be
limited in subject matter to coverage provided by governmental
agencies or by organizations subject to regulation by insurance law
or by insurance authorities of this or any other state of the United
States or any province of Canada, or to any other coverage the
inclusion of which may be approved by the Commissioner or any
combination of such coverages. In the absence of such definition
such term shall not include any coverage provided for such insured
pursuant to any compulsory benefit statute (including any work-
men's compensation or employer's liability statute), or benefits pro-
vided by union welfare plans or by employer or employee benefit
organizations.