A. Premium rates under a group policy of credit life or credit health insurance may not be increased more than once during the first policy year, and a subsequent increased rate may not be charged within 12 months of any prior change in rates.
B. In a policy of outstanding balance insurance, a change in rates may not be made effective until 31 days after all existing debtors in the group have been notified of any increased charge that they will be required to pay as a result of the change in rates. If the insurer is unable to identify the existing debtors, notice required by this section shall be deemed to be satisfied if the insurer notifies the creditor and provides necessary forms to be mailed by the creditor to the debtors advising them of the increased charge.
C. An insurer may file for approval of policy forms and premium rates for creditor-paid insurance on a basis other than that established by these regulations upon a showing satisfactory to the Commissioner that the forms and rates meet the requirements of Insurance Article, Title 13, Subtitle 1, Annotated Code of Maryland, and that the rates are actuarially consistent with rates prescribed by these regulations for other forms of credit life and credit health insurance.