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Ch. 338
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2007 Laws of Maryland
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CHAPTER 338
(Senate Bill 588)
AN ACT concerning
Insurance - Binders or Policies - Personal Insurance
FOR the purpose of providing that certain provisions of law regarding binders or
policies are applicable to personal insurance; altering certain notice
requirements for cancellation of a certain binder or policy for nonpayment of
premium: defining a certain term; providing for the application of this Act; and
generally relating to binders and policies of personal insurance.
BY repealing and reenacting, with amendments,
Article — Insurance
Section 12-106
Annotated Code of Maryland
(2003 Replacement Volume and 2006 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
12-106.
(a) IN THIS SECTION, "PERSONAL INSURANCE" MEANS PROPERTY
INSURANCE OR CASUALTY INSURANCE ISSUED TO AN INDIVIDUAL, TRUST,
ESTATE, OR SIMILAR ENTITY THAT IS INTENDED TO INSURE AGAINST LOSS
ARISING PRINCIPALLY FROM THE PERSONAL, NONCOMMERCIAL ACTIVITIES OF
THE INSURED.
(B) This section applies only to a binder or policy, other than a renewal
policy, of:
(1) private passenger motor vehicle, homeowners, dwelling, credit loss,
or PERSONAL INSURANCE, commercial property insurance, or liability AND
COMMERCIAL LIABILITY insurance; AND
(2) PERSONAL INSURANCE.
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[(b)] (C) A binder or policy is subject to a 45-day underwriting period
beginning on the effective date of coverage.
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-2138-
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