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PARRIS N. GLENDENING, Governor
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H.B. 825
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(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.
(4) THIS SUBSECTION DOES NOT APPLY TO THE FILING OF WORKERS'
COMPENSATION INSURANCE POLICY FORMS.
(5) THE COMMISSIONER MAY REQUIRE, BY REGULATION, THAT
INSURERS PROVIDE INFORMATION TO THE ADMINISTRATION ON THE NUMBER AND
TYPES OF POLICIES WRITTEN FOR EXEMPT COMMERCIAL POLICYHOLDERS UNDER
THIS SUBSECTION.
(6) ON WRITTEN REQUEST OF THE COMMISSIONER, AN INSURER SHALL
FILE WITH THE COMMISSIONER A FORM OR ENDORSEMENT ISSUED TO AN EXEMPT
COMMERCIAL POLICYHOLDER
(7) EXCEPT FOR THE EXEMPTION FROM FORM FILING REQUIREMENTS
PROVIDED IN THIS SECTION, A FORM OR ENDORSEMENT ISSUED TO AN EXEMPT
COMMERCIAL POLICYHOLDER IS SUBJECT TO ALL APPLICABLE PROVISIONS OF THIS
ARTICLE.
SECTION 2. AND BE IT FURTHER ENACTED, That the Insurance
Commissioner, by regulation, may authorize an exempt commercial policyholder to
procure coverage under this Act from an unauthorized insurer in accordance with §
3-306.1 of the Insurance Article.
SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2000.
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May 18, 2000
The Honorable Casper R. Taylor, Jr.
Speaker of the House
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- 4551 -
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