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Posts from the ‘Maryland Unfair Claims Settlement Practices Act’ Category

Maryland Insurance Administration Asserts Jurisdiction Over Surplus Lines Carriers

On September 8, 2011, the Maryland Insurance Administration (“MIA”) issued Bulletin 11-27, in which it advised that surplus lines carriers are “expected to comply” with the Insurance Article’s Percentage Deductable Requirements for homeowner’s policies.

Section 19-209 of the Insurance Article prohibits “insurers” from adopting a deductable that exceeds 5% of the “Coverage A – Dwelling Limit” in cases involving storm or hurricane damage unless the insurer obtained approval from the Insurance Commissioner.  The MIA has now taken the position that this provision applies to surplus lines carriers as well as admitted carriers. Read more