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§ 15-109. Minimum loss ratio for specified disease policies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 15. Health Insurance
Subtitle 1. General Provisions (Refs & Annos)
MD Code, Insurance, § 15-109
§ 15-109. Minimum loss ratio for specified disease policies
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Loss ratio” means the ratio of losses incurred to premiums earned on policies that are issued, delivered, or renewed in the State.
(3) “Specified disease policy” means a health insurance policy that provides:
(i) benefits only for a disease or diseases specified in the policy or for a treatment unique to a specified disease or diseases; or
(ii) additional benefits for a disease or diseases specified in the policy or for treatment unique to a specified disease or diseases.
Application of section
(b) This section applies to each individual, group, or blanket health insurance policy or nonprofit health service plan that is issued or delivered in the State.
Minimum loss ratio for specified disease policies
(c) To administer §§ 12-203, 12-204, and 12-205 of this article, the Commissioner shall establish a minimum loss ratio in accordance with generally accepted actuarial principles with respect to specified disease policies.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, §§ 354W, 468H, 477V.
MD Code, Insurance, § 15-109, MD INSURANCE § 15-109
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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