Ch. 242

1993 LAWS OF MARYLAND

surrender; requiring applications for long-term care insurance to include certain
questions and prohibiting rescission of a policy or certificate based on information
an insurer could derive from answers to those questions; establishing certain
standards for inflation protection; requiring insurers to submit certain annual
reports to the Commissioner regarding long-term care policies and providing for
the contents of the reports; establishing a minimum loss ratio standard; requiring
insurers to provide proof of compliance with loss ratio standards; requiring the
insurer to submit certain information relating to proposed premium increases and
to obtain the Commissioner's approval for increases; requiring certain insurers to
provide a certain applicant with a graphic comparison of certain different types of
long-term care coverage; prohibiting certain practices by insurers of certain
long-term care policies; repairing that certain required continuing education include
information directly relating to long-term care insurance; defining certain terms; and
generally relating to minimum regulatory requirements governing long-term care
insurance in the State.

BY repealing and reenacting, with amendments,
Article 48A - Insurance Code
Section 642, 643, 645, 646, 647, and 649
Annotated Code of Maryland
(1991 Replacement Volume and 1992 Supplement)

BY repealing and reenacting, without amendments,
Article 48A - Insurance Code
Section 644

Annotated Code of Maryland
(1991 Replacement Volume and 1992 Supplement)

BY adding to

Article 48A - Insurance Code

Section 170.1, 645.1, 646.1, 647.1 through 647.4 647.3, and 649.1

Annotated Code of Maryland

(1991 Replacement Volume and 1992 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

170.1.

IN ADDITION TO ALL OTHER AS PART OF THE CONTINUING EDUCATION
REQUIREMENTS UNDER THIS TITLE, THE COMMISSIONER SHALL REQUIRE AGENTS^:
AND BROKERS THAT SELL OR ISSUE LONG-TERM CARE INSURANCE TO RECEIVE 8
HOURS OF CONTINUING EDUCATION DIRECTLY RELATING TO LONG-TERM CARE
INSURANCE BEFORE AN AGENT CAN OFFER LONG-TERM CARE INSURANCE FOR
SALE.

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