|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 460
|
|
|
|
|
|
2000 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHAPTER 460
(House Bill 1129)
AN ACT concerning
Property and Casualty Automobile Insurance - Proof of Insurance
FOR the purpose of requiring an authorized insurer to provide certain proof of
insurance upon renewal of an automobile insurance policy and on request of an
insured or person with an insurable interest in property; providing for the
application of this Act; authorizing an insurer to require certain authorization
before providing certain proof of insurance; providing that this Act may not be
construed to limit the right of a certain person to obtain proof of insurance; and
generally relating to proof of insurance under property and casualty insurance.
BY repealing and reenacting, with amendments,
Article - Insurance
Section 12-301
Annotated Code of Maryland
(1997 Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
12-301.
(a) In this section, "insurable interest" means an actual, lawful, and
substantial economic interest in the safety or preservation of the subject of the
insurance against loss, destruction, or pecuniary damage or impairment to the
property.
(b) A contract of property insurance or a contract of insurance of an interest in
or arising from property is enforceable only for the benefit of a person with an
insurable interest in the property at the time of the loss.
(c) An insurable interest in property is measured by the extent of possible
harm to the insured from loss, injury, or impairment of the property.
(D) (1) THIS SUBSECTION APPLIES ONLY TO AN AUTOMOBILE INSURANCE
POLICY THAT IS PROCURED BY AN INDEPENDENT AGENT. ON REQUEST OF AN
INSURED OR A PERSON WITH
(2) UPON RENEWAL OF AN EXISTING AUTOMOBILE INSURANCE POLICY,
IF THE INSURED OR A PERSON HOLDING AN INSURABLE INTEREST IN PROPERTY
UNDER THIS SECTION THE SUBJECT OF THE POLICY REQUESTS PROOF OF
INSURANCE, AN AUTHORIZED INSURER SHALL PROVIDE:
|
|
|
|
|
|
|
|
|
|
- 2492 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
