Ch. 475                                    1995 LAWS OF MARYLAND

(2)     For all workers' compensation claims under policies written in the 3
years immediately preceding the date of the annual statement, the reserves shall be 65%
of the earned workers' compensation premiums of each of the 3 years, less all losses and
expense payments made in connection with claims under policies written in the
corresponding years.

(3)     For the first year of the 3-year period, the reserves may not be less than
the present value at 4% interest of the determined and the estimated unpaid workers'
compensation claims under policies written during that year.

[(e)](D) (1) [The] IF THE COMMISSIONER APPROVES, THE reserves for all
health care professional liability claims[:

(i) may not be less than the reserves required by subsection (c) of this
section; and

(ii) if the Commissioner approves,] may be [discounted]
DISCOUNTED, but not to a level less than the present value at 4% interest of the
determined or the estimated future payments, or both.

(2)     If a health care professional liability insurer reserves its health care
professional liability claims at less than the full amount of the determined or the
estimated future payment of those claims, or both, the insurer shall file interim
statements with the Commissioner under Title 4 of this article.

(3)     A medical malpractice insurer that benefits from a discount of reserves
under this subsection shall reduce its premiums proportionately to the amount of the
discount.

[(4) The Commissioner shall submit a report to the Legislative Policy
Committee of the General Assembly on or before October 1 of each year about the effect
of a discount of reserves on the reduction of premiums.]

[(f)] (E) The Commissioner may waive the requirements of this section for
combination or multiple peril policies if the policies:

(1)     place the predominating exposure to loss on types of insurance other
than liability insurance; and

(2)     do not include motor vehicle liability or workers' compensation
insurance.

[10-123.

(a)     (1) An agent that holds a certificate of qualification may solicit applications
for and issue policies of personal travel insurance, life insurance, accident insurance, or
baggage insurance by vending machines that are supervised by the agent and located only
in terminal facilities of common carriers.

(2) The Commissioner shall issue to the agent a special vending machine
license for each vending machine used as described in paragraph (1) of this subsection,

(b)     The vending machine license shall state:

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