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31.08.17.00.htm 31.08.17.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 08 PROPERTY AND CASUALTY INSURANCE Chapter 17 Statement of Actual Reason for Cancellation or Nonrenewal of Commercial Insurance Policy Authority: Insurance Article, §2-109 and 27-605, Annotated Code of Maryland
31.08.17.01.htm 31.08.17.01. 01 Scope.. A. This chapter applies only to policies of commercial insurance.. B. This chapter does not apply to:. 1) A policy in effect for 45 days or less, as provided in Insurance Article, §12-106, Annotated Code of Maryland; or2) A policy issued to an exempt commercial policyholder under Insurance Article, §11-206, Annotated Code of Maryland, if the policy provides for written notice of not less than 30 days of the insurer’s intent to cancel or refusal to renew.
31.08.17.02.htm 31.08.17.02. 02 Definitions.. A. In this chapter the following term has the meaning indicated.. B. Commercial Insurance Defined.. 1) “Commercial insurance” means property insurance or casualty insurance:. a) Issued to an individual, sole proprietor, partnership, corporation, limited liability company, or similar entity; andb) Intended to insure against loss arising from the business pursuits of the insured entity.. 2) “Commercial insurance” does not include:.
31.08.17.03.htm 31.08.17.03. 03 Statement of Actual Reason.. A. Whenever an insurer cancels or refuses to renew a policy of commercial insurance for a reason other than nonpayment of premium, the insurer shall provide to the named insured a written statement of the actual reason for the cancellation or refusal to renew.B. An insurer shall include in a statement of actual reason:. 1) An offer to provide additional information in support of the proposed action on the written request of the insured;
31.08.17.9999.htm 31.08.17.9999. Administrative History Effective date: March 17, 2014 (41:5 Md. R. 348).
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