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PARRIS N. GLENDENING, Governor Ch. 18
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(pp) "Surplus lines insurance" means the full amount or kind of insurance
needed to protect the interest of the insured that:
(1) cannot be obtained from an authorized insurer; or
(2) for the particular kind and class of insurance to provide coverage
against liability of persons described in § 24-206(1) of this article, cannot be obtained
from three or more authorized insurers that write that kind and class of insurance on
a broad basis.
(qq) "Title insurance" means insurance of owners of property or other persons
that have an interest in the property against loss by encumbrance, defective title,
invalidity of title, or adverse claim to title.
(rr) "Unauthorized insurer" means an insurer that does not hold a certificate of
authority.
(ss) "Wet marine and transportation insurance" means the part of marine
insurance that includes only:
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(1) insurance of vessels, crafts, or hulls and interests in or related to
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them;
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(2) insurance of marine builder's risks or marine war risks;
(3) marine protection and indemnity insurance;
(4) insurance of freights and disbursements pertaining to a subject of
insurance under this subsection; and
(5) insurance, of personal property and interests in personal property, in
connection with any risk of navigation, transit, or transportation:
(i) in the course of exportation from or importation into a country
and in the course of transportation along a coast or on inland waters, including
transportation by land, water, or air from point of origin to final destination;
(ii) while being prepared for and while awaiting shipment; and
(iii) during any delay, storage, transshipment, or incidental
reshipment.
(tt) (1) "Wholesale life insurance" means life insurance that is:
(i) distributed on a mass merchandising basis;
(ii) administered by group methods provided, with or without
evidence of insurability, by individual policies; and
(iii) made available to employees or members under a program,
which also may provide coverage of dependents of the employees or members,
sponsored by:
1. an employer or association of employers;
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