Ch. 36

1995 LAWS OF MARYLAND

IN THIS SECTION, "INSURED" INCLUDES AN INDUSTRIAL INSURED WHO
PROCURES INSURANCE OF A RISK THROUGH A FULL-TIME EMPLOYEE ACTING AS A
RISK MANAGER.                                                                                     

(B)      REQUIRED.

(1)      EACH INSURED THAT PROCURES OR CAUSES TO BE PROCURED
INSURANCE WITH AN UNAUTHORIZED INSURER, OR AN INSURED OR SELF-INSURED
THAT PROCURES OR CONTINUES EXCESS LOSS, CATASTROPHE, OR OTHER
INSURANCE WITH AN UNAUTHORIZED INSURER, ON A SUBJECT OF INSURANCE
RESIDENT, LOCATED, OR TO BE PERFORMED IN THE STATE OTHER THAN SURPLUS
LINES INSURANCE, SHALL FILE WITH THE COMMISSIONER A REPORT UNDER THIS
SECTION WITHIN 60 DAYS AFTER THE DATE THAT THE INSURANCE WAS PROCURED.

(2)      INSURANCE WITH AN UNAUTHORIZED INSURER ON A SUBJECT OF
INSURANCE RESIDENT, LOCATED, OR TO BE PERFORMED IN THE STATE THAT IS
PROCURED THROUGH NEGOTIATIONS OR AN APPLICATION WHOLLY OR PARTLY
OCCURRING OR MADE IN OR FROM WITHIN OR OUTSIDE OF THE STATE, OR FOR
WHICH THE PREMIUMS WHOLLY OR PARTLY ARE REMITTED DIRECTLY OR
INDIRECTLY FROM IN OR OUTSIDE OF THE STATE, IS DEEMED TO BE INSURANCE
PROCURED IN THE STATE.

(C)     FORM AND CONTENTS OF REPORT.
THE REPORT SHALL:

(1)      BE IN WRITING; AND

(2)      BE ON THE FORM PROVIDED BY THE COMMISSIONER TO THE
INSURED ON REQUEST; AND

(3)      CONTAIN:

(I)       THE NAME AND ADDRESS OF THE INSURED;

(II)     THE NAME AND ADDRESS OF THE INSURER;

(III)    THE SUBJECT OF THE INSURANCE;

(IV)    A GENERAL DESCRIPTION OF THE COVERAGE;

(V)     THE AMOUNT OF THE PREMIUM CHARGED FOR THE
COVERAGE; AND

(VI)    ANY OTHER PERTINENT INFORMATION, THAT THE
COMMISSIONER REASONABLY REQUESTS.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 209(a) and (b).

In subsection (b)(1) of this section, the reference to "surplus lines insurance"
is substituted for the former reference to "insurance procured through a
surplus lines broker pursuant to the Surplus Lines Insurance Law of this
State" for brevity.

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