|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 575
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
27-608.
(a) This section applies [only to policies of commercial insurance] TO:
(1) POLICIES OF COMMERCIAL INSURANCE; AND
(2) POLICIES OF WORKERS' COMPENSATION INSURANCE.
(b) Unless an insurer has given notice of its intention not to renew a policy
subject to this section, [if the insurer seeks to increase the renewal policy premium by
20% or more,] the insurer shall send a notice to the named insured and insurance
producer, if any, not less than 45 days prior to the renewal date of the policy.
(c) A notice under this section shall include:
(1) both the expiring policy premium and the renewal policy premium;
and
(2) the telephone number for the insurer or insurance producer, if any,
together with a statement that the insured may call to request additional information
about the premium increase.
(d) (1) If [an] THE INSURER SEEKS TO INCREASE THE RENEWAL
POLICY PREMIUM BY 20% OR MORE AND THE insurer's rating methodology requires
the insured to provide information to calculate the renewal policy premium, an insurer
shall provide a reasonable estimate of the renewal policy premium if:
(i) the insurer has requested the required information from the
insured; and
(ii) the insurer has not received the requested information.
(2) A reasonable estimate under this subsection shall be based upon
the information available to the insurer at the time the notice is sent.
(e) In determining the amount of a premium increase under this section, the
insurer is not required to include premium resulting from:
(1) an increase in the units of exposure;
|
|
|
|
|
|
|
|
|
|
- 3753 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
