§ 15-911. Minimum standards for loss ratios
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 15-911
§ 15-911. Minimum standards for loss ratios
(a) In this section, “loss ratio” means the ratio of losses incurred to premiums earned on policies that are issued, delivered, or renewed in the State.
(b) Medicare supplement policies shall return aggregate benefits that are reasonable in relation to the premium charged.
(c)(1) For purposes of administering this subtitle and §§ 12-203 through 12-205 of this article, the Commissioner shall adopt reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies.
(d) The minimum acceptable loss ratios for Medicare supplement policies are:
(e)(1) To demonstrate compliance with the applicable minimum loss ratio standards established in the State for Medicare supplement policies, each carrier that provides Medicare supplement policies or certificates in the State shall file annually with the Commissioner the carrier's rates, rating schedule, and supporting documentation.
Credits
Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 648D.
MD Code, Insurance, § 15-911, MD INSURANCE § 15-911
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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