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PARRIS N. GLENDENING, Governor
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Ch. 541
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Approved May 18, 2000.
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CHAPTER 541
(Senate Bill 598)
AN ACT concerning
Insurance Rating Law - Exempt Commercial Policyholders
FOR the purpose of exempting from certain form filing requirements under prior
approval insurance rating law insurers that issue policies to certain commercial
policyholders; requiring a certain commercial policyholder to certify to the
insurer issuing coverage and the Insurance Commissioner that it meets certain
criteria for exemption; specifying the contents of the certification; authorizing
the Insurance Commissioner to require by regulation certain information about
policies written for certain commercial policyholders; providing that
independent insurance professional may be compensated for certain services
only by certain persons; requiring an insurer to file with the insurance
Commissioner any forms and endorsements issued to an exempt commercial
policyholder under certain circumstances; providing that, except for a certain
exemption, forms and endorsements issued to exempt commercial policyholders
shall be subject to certain State insurance laws; providing that the Insurance
Commissioner, by regulation, may authorize an exempt commercial policyholder
to procure insurance from an unauthorized insurer under certain
circumstances; providing that a certain insurer must file certain forms and
endorsements on written request of the Insurance Commissioner; clarifying that
certain forms and endorsements are subject to certain provisions of law;
authorizing the Insurance Commissioner to allow, by regulation, a certain
exempt commercial policyholder to procure coverage from a certain unauthorized
insurer; defining a certain term; and generally relating to exempting insurers
issuing coverage to commercial policyholders from certain requirements under
prior approval insurance rating law.
BY repealing and reenacting, with amendments,
Article - Insurance
Section 11-206
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:
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- 2849 -
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