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Session Laws, 2007
Volume 803, Page 1263   View pdf image
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Ch. 150
Martin O'Malley, Governor
(I) if the Administration finds that the insurer
breached an obligation to the insured, the administration shall
determine the obligation of the insurer to pay: 1. actual damages. which actual damages may
not exceed the limits of any applicable policy: and 2. interest on all actual damages incurred by
the insured computed: A. at the rate allowed under § 11-107(a) of
the Courts Article: and B. from the date on which the insured's claim
should have been paid: and (ii) if the administration also finds that the
insurer failed to act in good faith, the administration shall also
determine the obligation of the insurer to pay: 1. expenses and litigation costs incurred by
the insured. including reasonable attorney's fees. in pursuing
recovery under this subtitle: and 2. interest on all expenses and litigation
costs incurred by the insured computed: A. at the rate allowed under § 11-107(a) of
the Courts Article: and B. from the applicable date or dates on which
the insured's expenses and costs were incurred. (3) an insurer may not be found to have failed to act in
good faith under this section solely on the basis of delay in
determining coverage or the extent of payment to which the insured
is entitled if the insurer acted within the time period specified by
statute or regulation for investigation of a claim by an insurer. (4) the amount of the attorney's fees determined to be
payable to an insured under paragraph (2) of this subsection may not
exceed one-third of the actual damages payable to the insured.
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Session Laws, 2007
Volume 803, Page 1263   View pdf image
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