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2006 LAWS OF MARYLAND
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Ch. 388
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19-205.
(A) (1) AN INSURER SHALL PROVIDE A POLICYHOLDER WITH AN ANNUAL
STATEMENT THAT SUMMARIZES THE COVERAGES AND EXCLUSIONS UNDER THE
POLICY ISSUED BY THE INSURER.
(2) THE INSURER'S STATEMENT SHALL BE CLEAR AND SPECIFIC.
(3) THE INSURER'S STATEMENT SHALL STATE WHETHER THE
COVERAGES UNDER THE POLICY PROVIDE FOR REPLACEMENT COST. ACTUAL CASH
VALUE. OR OTHER METHOD OF LOSS PAYMENT FOR COVERED STRUCTURES AND
CONTENTS.
(4) THE INSURER'S STATEMENT SHALL INCLUDE A DISCLOSURE THAT
STATES:
(I) THE POLICYHOLDER SHOULD READ THE POLICY FOR
COMPLETE INFORMATION ON COVERAGES AND EXCLUSIONS;
(II) THE POLICYHOLDER SHOULD REFER TO THE DECLARATIONS
PAGE FOR A LISTING OF COVERAGES PURCHASED;
(III) THE POLICYHOLDER SHOULD COMMUNICATE WITH THE
INSURANCE PRODUCER OR THE INSURER FOR ANY ADDITIONAL INFORMATION
REGARDING THE SCOPE OF COVERAGES IN THE POLICY;
(IV) THE STATEMENT DOES NOT INCLUDE ADDITIONAL OPTIONAL
COVERAGE PURCHASED BY THE POLICYHOLDER, IF ANY;
(V) THE STATEMENT IS NOT PART OF THE POLICY OR CONTRACT
OF INSURANCE AND DOES NOT CREATE A PRIVATE RIGHT OF ACTION; AND
(VI) ALL RIGHTS, DUTIES, AND OBLIGATIONS ARE CONTROLLED BY
THE POLICY AND CONTRACT OF INSURANCE; AND
(VII) THE STANDARD HOMEOWNER'S INSURANCE POLICY DOES NOT
COVER LOSSES FROM FLOOD.
(B) THE STATEMENT UNDER SUBSECTION (A) OF THIS SECTION;
(A) (1) IS NOT PART OF THE POLICY OR CONTRACT OF INSURANCE; AND
(2) DOES NOT CREATE A PRIVATE RIGHT OF ACTION.
(C) THE COMMISSIONER MAY ADOPT REGULATIONS TO IMPLEMENT THE
PROVISIONS OF THIS SECTION.
19-206.
(A) (1) AN INSURER OR AN INSURANCE PRODUCER THAT SELLS OR
NEGOTIATES HOMEOWNER'S INSURANCE IN THE STATE SHALL PROVIDE AN
APPLICANT, AT THE TIME A POLICY OF HOMEOWNER'S INSURANCE IS INITIALLY
PURCHASED, WITH A WRITTEN NOTICE THAT STATES THAT A STANDARD
HOMEOWNER'S INSURANCE POLICY DOES NOT COVER LOSSES FROM FLOOD.
- 2102 -
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