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Ch. 541
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2000 LAWS OF MARYLAND
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5. IS A MUNICIPAL CORPORATION WITH A POPULATION OF
AT LEAST 15,000; OR
6. RETAINS, EMPLOYS, OR UTILIZES AN INDEPENDENT
INSURANCE ADVISOR PROFESSIONAL WHO:
A. IS QUALIFIED BY EXPERIENCE, EDUCATION, OR TRAINING
TO ASSESS THE INSURANCE PURCHASER'S NEEDS AND TO ANALYZE THE POLICY OF
INSURANCE ON BEHALF OF THE INSURANCE PURCHASER; AND
B. MAY BE A LICENSED AGENT OR BROKER PROVIDES
SKILLED SERVICES IN LOSS PREVENTION, LOSS REDUCTION, OR RISK AND
INSURANCE COVERAGE ANALYSIS AND THE PURCHASE OF INSURANCE, AND WHO
POSSESSES AT LEAST ONE OF THE FOLLOWING CREDENTIALS:
A. A BACHELOR'S OR HIGHER DECREE IN RISK
MANAGEMENT ISSUED BY AN ACCREDITED COLLEGE OR UNIVERSITY;
B. DESIGNATION AS A CHARTERED PROPERTY AND
CASUALTY UNDERWRITER (CPCU) ISSUED BY THE AMERICAN INSTITUTE FOR
CPCU/INSURANCE INSTITUTE OF AMERICA;
C. DESIGNATION AS AN ASSOCIATE IN RISK MANAGEMENT
(ARM) ISSUED BY THE AMERICAN INSTITUTE FOR CPCU/INSURANCE INSTITUTE OF
AMERICA; OR
D. A CERTIFICATE OF QUALIFICATION TO SERVE AS A
BROKER OR A LICENSE TO SERVE AS AN ADVISER UNDER THIS ARTICLE.
(2) THE FILING REQUIREMENTS OF THIS SECTION DO NOT APPLY TO
POLICY FORMS AND ENDORSEMENTS AND TO MODIFICATIONS OF POLICY FORMS
AND ENDORSEMENTS ISSUED TO AN EXEMPT COMMERCIAL POLICYHOLDER
(3) (I) AN EXEMPT COMMERCIAL POLICYHOLDER MUST CERTIFY IN
WRITING, ON A FORM APPROVED BY THE COMMISSIONER TO THE INSURER ISSUING
COVERAGE AND THE COMMISSIONER THAT IT MEETS THE CRITERIA NECESSARY FOR
EXEMPTION FROM FORM FILING REQUIREMENTS.
(II) THE CERTIFICATION MUST INCLUDE:
1. SPECIFIC REFERENCE TO THE OPTIONAL CRITERIA THAT
THE INSURED HAS SATISFIED TO QUALIFY AS AN EXEMPT COMMERCIAL
POLICYHOLDER;
2. INFORMATION REQUIRED BY THE COMMISSIONER FOR
THE PURPOSE OF DETERMINING THE ANNUAL AGGREGATE PREMIUMS OF THE
INSURED FOR PURPOSES OF PARAGRAPH (1)(I) OF THIS SUBSECTION; AND
3. AN ACKNOWLEDGMENT BY THE INSURED THAT THE
POLICY FORM, ENDORSEMENT, OR MODIFICATION INTENDED FOR USE HAS NOT
BEEN FILED WITH THE COMMISSIONER.
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- 2852 -
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