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PARRIS N. GLENDENING, Governor
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Ch. 18
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(aa) "Marine protection and indemnity insurance" means insurance against, or
against legal liability of the insured for, loss, damage, or expense arising out of or
incident to the ownership, operation, chartering, maintenance, use, repair, or
construction of a vessel, craft, or instrumentality used in ocean or inland waterways,
including legal liability of the insured for personal injury, illness, or death or for loss
or damage to the property of another person.
(bb) "Mutual insurer" means an insurer that is incorporated without capital
stock and the governing body of which is elected in accordance with this article.
(cc) "Negotiate" means to confer directly with or offer advice directly to a
purchaser or prospective purchaser of a particular contract of insurance concerning
any of the substantive benefits, terms, or conditions of the contract, provided that the
person engaged in that act either sells insurance or obtains insurance from insurers
for purchasers.
(dd) "Person" means an individual, receiver, trustee, guardian, personal
representative, fiduciary, representative of any kind, partnership, firm, association,
corporation, or other entity.
(ee) (1) "Policy" means the written instrument in which an insurance
contract is set forth.
(2) "Policy" includes all clauses, endorsements, riders, and other papers
attached to or made part of the insurance contract.
(ff) (1) "Premium" means consideration for insurance.
(2) "Premium" includes:
(i) except as provided in paragraph (3) of this subsection, an
assessment; and
(ii) a membership fee, policy fee, survey fee, inspection fee, service
fee, or other similar fee in consideration for an insurance contract.
(3) "Premium" does not include:
(i) an assessment as described in § 9-225 of this article; or
(ii) an assessment made under any State law that provides for
insolvency protection or insurance availability.
(gg) (1) "Property insurance" means insurance on real or personal property
on land, in water, or in the air or an interest in real or personal property against loss
or damage from any hazard or cause and against loss that is consequential to the loss
or damage.
(2) "Property insurance" includes fire insurance, flood insurance,
extended coverage insurance, homeowners insurance, farm owners insurance, allied
lines insurance, earthquake insurance, growing crops insurance, aircraft physical
damage insurance, automobile physical damage insurance, glass insurance, livestock
insurance, and animal insurance.
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