31.04.20.03

.03 Definitions.

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "Analysis" has the meaning stated in Insurance Article, §2-205(a), Annotated Code of Maryland.

(2) "Business practices" means the operations, policies, procedures and other activities or administrative methods used by a person to conduct business.

(3) "Commissioner" means the Insurance Commissioner of Maryland or the Insurance Commissioner's designee.

(4) "Complaint" means a written or documented oral communication expressing dissatisfaction with a person.

(5) "Market conduct action" means any of the full range of activities that the Commissioner may initiate to assess the business practices of a person or persons, or the insurance market, including a market conduct analysis, market conduct investigation, or market conduct examination.

(6) "Market conduct analysis" means an evaluation conducted whenever the Commissioner considers it advisable to identify or investigate the business practices of one or more persons, or the insurance market, from filed schedules, surveys, required reports, or other sources of information.

(7) "Market conduct examination" means an inspection of the accounts, records, documents, or transactions of a person to develop a detailed understanding of the person's business practices to evaluate compliance with State law.

(8) "Market conduct investigation" means a process used by the Commissioner to determine if a person has violated State law in that person's business practices.

(9) "Person" means an insurer or other entity subject to regulation by the Commissioner and authorized to conduct business in this State.

(10) "Proposed market conduct examination report" means the completed market conduct examination report that is required under Regulation .07 of this chapter.