A. This chapter applies to:
(1) Commercial insurance as defined in Insurance Article, §27-601(b), Annotated Code of Maryland; and
(2) Workers’ compensation insurance for employers’ liability as set forth in Labor and Employment Article, Title 9, Annotated Code of Maryland.
B. This chapter does not apply to policies:
(1) Issued to exempt commercial policyholders, as defined in Insurance Article, §11-206(j), Annotated Code of Maryland;
(2) For which the renewal premium is:
(a) In excess of $1,000; and
(b) An increase over the expiring policy premium of the lesser of 3 percent or $300; or
(3) Of surplus lines insurance procured from a nonadmitted insurer under Insurance Article, Title 3, Subtitle 3, Annotated Code of Maryland.