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§ 19-403. Setting premium rates for workers’ compensation insurance

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 19. Property and Casualty Insurance
Subtitle 4. Workers' Compensation Insurance (Refs & Annos)
MD Code, Insurance, § 19-403
§ 19-403. Setting premium rates for workers’ compensation insurance
Currentness
Powers of Commissioner
(a) The Commissioner may:
(1) determine whether the premium rates of an insurer adequately cover the risks applicable to a workers' compensation insurance policy under Titles 9 and 10 of the Labor and Employment Article; and
(2) require the insurer to set premium rates that are adequate to cover those risks.
Requirements relating to setting premium rates
(b) Each insurer shall set premium rates for workers' compensation insurance in accordance with the requirements of the Commissioner under subsection (a) of this section.
Fines and penalties
(c)(1) A person that violates subsection (b) of this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000.
(2) The Commissioner may revoke the certificate of authority of a person that is convicted under this section.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 482F.
MD Code, Insurance, § 19-403, MD INSURANCE § 19-403
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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