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Ch. 150 2007 Laws of Maryland
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(4) " Good faith" means an informed judgment based on
honesty and diligence supported by evidence the insurer knew or
should have known at the time the insurer made a decision on a claim.
(5) " insurer" has the meaning stated in § 1-101 of the
Insurance Article.
(6) " Property insurance" has the meaning stated in §
1-101 of the Insurance Article.
(b) This subtitle applies only to first-party claims under
property and casualty insurance policies issued, sold, or delivered
in the State.
(c) (1) Except as provided in paragraph (2) of this
subsection, a party may not file an action under this subtitle before
the date of a final decision under § 27-1001 of the insurance article.
(2) Paragraph (1) of this subsection does not apply to an
action:
(I) Within the small claim jurisdiction of the
District Court under § 4-405 of this article:
(ii) If the insured and the insurer agree to waive
the requirement under paragraph (1) of this subsection: or
(III) Under a commercial insurance policy on a claim
WITH RESPECT TO WHICH THE APPLICABLE LIMIT OF LIABILITY EXCEEDS
$1,000,000.
(A) THIS SECTION APPLIES IN ONLY TO A CIVIL ACTION FILED BY AN
INSURED AGAINST AN INSURER OR BY AN INSURER AGAINST ITS INSURED TO
DETERMINE:
(1) THE COVERAGE THAT EXISTS UNDER THE INSURER'S
LIABILITY INSURANCE; OR
(2) THE EXTENT TO WHICH THE INSURED IS ENTITLED TO
RECEIVE PAYMENT FROM THE INSURER FOR A COVERED LOSS UNDER THE
INSURER'S POLICY OF PROPERTY AND CASUALTY OR MOTOR VEHICLE LIABILITY INSURANCE.
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- 1256 -
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