Ch. 36

1995 LAWS OF MARYLAND

(2) DO NOT INCLUDE MOTOR VEHICLE LIABILITY OR WORKERS'
COMPENSATION INSURANCE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 80.

In subsection (a) of this section, the former reference to a reserve "for
outstanding losses under insurance" is deleted as surplusage. Similarly, the
former reference to an accident or injury "for which the insured is liable" is
deleted as surplusage.

In subsections (b)(1), (2), and (3), (c)(1), and (d)(1) and (2) of this section,
the word "annual" is added to modify "statement" for clarity.

In subsection (d)(2) of this section, the reference to "losses and expense
payments" is substituted for the former reference to "loss and loss expense
payments" to conform with the language of subsection (c)(1) of this section.

In subsection (e)(3) of this section, the requirement that a medical
malpractice insurer reduce premiums "proportionately to the amount of the
discount" is substituted for the former requirement that benefits inure to
policyholders "in the form of a reduction in premium consistent with the
amount of the discount" for brevity.

In subsection (e)(4) of this section, the requirement that the Commissioner
shall "submit a report" to the Legislative Policy Committee is substituted for
the former requirement that the Commissioner "report" to the Legislative
Policy Committee to conform to similar requirements in other revised articles
of the Code.

Also in subsection (e)(4) of this section, the former reference to the "October
1, 1989", deadline for submission to the Legislative Policy Committee of a
report on the effect of a discount of reserves is deleted as obsolete.

In subsection (f) of this section, the former reference to the power of the
Commissioner "in his discretion" to waive requirements of this section is
deleted as unnecessary in light of the use of the word "may".

The Insurance Article Review Committee notes, for consideration by the
General Assembly, that in subsection (b) of this section, the references to
specific amounts of reserves required for certain liability suits may be
obsolete.

Defined terms: "Commissioner" § 1-101
"Insurance" § 1-401
"Insurer" § 1-101
"Person" § 1-101
"Policy" § 1-101                 

"Premium" § 1-101

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