Ch. 35

1997 LAWS OF MARYLAND

(1) GUARANTEES MAY BE GROUPED BY CLASSIFICATIONS FOR THE
ESTABLISHMENT OF RATES AND MINIMUM PREMIUMS.

(2) A SPECIAL OR UNUSUAL GUARANTEE THAT IS MORE HAZARDOUS
TO THE TITLE INSURER THAN ORDINARY TITLE GUARANTEES BECAUSE OF AN
ALLEGED IRREGULARITY OR A DIFFERENCE IN INTERPRETATION OR APPLICATION
OF LAW THAT MIGHT AFFECT MARKETABILITY OF TITLE, MAY BE CLASSIFIED
INDIVIDUALLY AND SEPARATELY ACCORDING TO THE CIRCUMSTANCES PECULIAR
TO EACH CASE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 242A(b).

In subsection (a) of this section, the reference to "title insurance" rates is
added to clarify the applicability of this provision. Similarly, in subsection
(e)(2) of this section, the reference to the "title" insurer is added for clarity.

Defined terms: "Insurance" § 1-101
"Insurer" § 1-101
"Premium" § 1-101
"Rate" § 11-101
"Title insurance" § 1-101

11-403. RATE FILINGS.

(A) REQUIRED.

(1) EXCEPT AS OTHERWISE PROVIDED IN THIS SUBSECTION, EACH
TITLE INSURER SHALL FILE WITH THE COMMISSIONER ALL RATES OR PREMIUMS,
SUPPLEMENTARY RATE INFORMATION, FORMS OF CONTRACTS, POLICIES, OR
GUARANTEES OF INSURANCE, AND ALL MODIFICATIONS OF CONTRACTS, POLICIES,
OR GUARANTEES OF INSURANCE THAT IT PROPOSES TO USE.

(2) A FILING IS NOT REQUIRED FOR RATES OR PREMIUMS FOR A
SPECIAL OR UNUSUAL GUARANTEE AS DESCRIBED IN § 11-402(E)(2) OF THIS
SUBTITLE.

(B) INDICATION OF COVERAGE CONTEMPLATED.

EACH FILING SHALL INDICATE THE CHARACTER OR EXTENT OF COVERAGE
CONTEMPLATED UNDER THE RATES AND PREMIUMS FOR WHICH IT IS MADE.

(C) REPORTS OF CHANGES REQUIRED.

A TITLE INSURER MAY NOT MAKE A CHANGE IN RATES OR PREMIUMS OR IN
THE FORMS OF CONTRACTS, POLICIES, OR GUARANTEES OF INSURANCE UNLESS A
REPORT THAT INDICATES THE CHANGE HAS BEEN FILED WITH AND APPROVED BY
THE COMMISSIONER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 242A(c)(l), (2), and (3).

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