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Ch. 567
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2000 LAWS OF MARYLAND
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(i) a fiscal audit of the accounts and transactions of the Fund each
year;
(ii) a compliance audit of the accounts and transactions of the Fund
every 3 years; and
(iii) a statutory audit of the Fund at least every 3 years in a manner
recognized and required by the Legislative Auditor.
(2) As part of the statutory audit, the Legislative Auditor shall perform a
market conduct survey about the operations of the Fund, including a review of:
(i) the average caseload of the Fund's attorneys;
(ii) the average length of time to process a claim;
(iii) each complaint submitted during the calendar year before the
survey the nature of the complaint, and the resolution of the complaint;
(iv) the percentage of claims contested before the Workers'
Compensation Commission; and
(v) whether the Fund unfairly discriminates or allows unfair
discrimination between individuals of the same class and essentially the same hazard
level:
1. in the terms or conditions of an insurance policy;
2. in premiums charged; or
3. except as provided under the Fund's experience
modification and premium discount plan, in any other manner:
(3) As soon as possible, the Legislative Auditor shall submit the results
(i) each audit to the Governor and, subject to § 2-1246 of the State
Government Article, to the legislative Policy Committee; and
(ii) the market conduct survey to the Legislative Policy Committee.
[(b)](4) The Fund shall pay for:
[(1)] (I) the fiscal portion of the postaudit examination;
[(2)] (II) the market conduct survey; and
[(3)] (III) the statutory audit.
(B) (1) THE MARYLAND INSURANCE COMMISSIONER SHALL EXAMINE THE
FUND IN ACCORDANCE WITH §§ 2-205 AND 2-207 THROUGH 2-209 OF THE INSURANCE
ARTICLE.
(2) THE MARYLAND INSURANCE COMMISSIONER SHALL SUBMIT THE
FINAL REPORT OF ANY EXAMINATION OF THE FUND TO THE GOVERNOR AND,
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- 3014 -
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