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31.08.13.00.htm 31.08.13.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 08 PROPERTY AND CASUALTY INSURANCE Chapter 13 Application of a Percentage Deductible in the Case of a Hurricane Authority: Insurance Article, §2-109, 19-209, and 19-209.1, Annotated Code of Maryland
31.08.13.01.htm 31.08.13.01. 01 Purpose.. The purpose of this chapter is to implement Insurance Article, §19-209 and 19-209.1, Annotated Code of Maryland.
31.08.13.02.htm 31.08.13.02. 02 Applicability.. A. This chapter applies to all property and casualty insurers authorized to write homeowner’s insurance policies in Maryland.B. This chapter applies to any policy of homeowner’s insurance that provides a percentage deductible.
31.08.13.03.htm 31.08.13.03. 03 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Delivery by electronic means” includes:. a) Delivery to an electronic mail address at which a party has consented to receive notice; and. b) Posting on an electronic network, together with separate notice to a party directed to the electronic mail address at which the party has consented to receive notice of the posting.2) Homeowner’s Insurance.. a) “Homeowner’s insurance
31.08.13.04.htm 31.08.13.04. 04 Underwriting Standard.. A. An insurer may not adopt or amend an underwriting standard that requires a hurricane percentage deductible that exceeds 5 percent unless the insurer has filed the underwriting standard or the amendment to the underwriting standard with the Commissioner.B. If an insurer withdraws an underwriting standard that requires a percentage deductible that exceeds 5 percent, the insurer shall notify the Commissioner in writing within 10 days of the withdrawal.
31.08.13.9999.htm 31.08.13.9999. Administrative History Effective date: June 23, 2014 (41:12 Md. R. 669) ―. Chapter revised effective April 10, 2017 (44:7 Md. R. 357).
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