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§ 19-205. Annual statement summarizing coverage and exclusions of policy

West's Annotated Code of MarylandInsuranceEffective: October 1, 2017

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 19. Property and Casualty Insurance
Subtitle 2. Homeowner's Insurance Policies (Refs & Annos)
Effective: October 1, 2017
MD Code, Insurance, § 19-205
§ 19-205. Annual statement summarizing coverage and exclusions of policy
Statement requirements
(a)(1) An insurer shall provide a policyholder with an annual statement that summarizes the coverages and exclusions under the policy issued by the insurer.
(2) The insurer's statement shall be clear and specific.
(3) The insurer's statement shall state whether the coverages under the policy provide for replacement cost, actual cash value, or other method of loss payment for covered structures and contents.
(4) The insurer's statement shall include a disclosure that states:
(i) the policyholder should read the policy for complete information on coverages and exclusions;
(ii) the policyholder should refer to the declarations page for a listing of coverages purchased;
(iii) the policyholder should communicate with the insurance producer or the insurer for any additional information regarding the scope of coverages in the policy;
(iv) the statement does not include additional optional coverage purchased by the policyholder, if any;
(v) the statement is not part of the policy or contract of insurance and does not create a private right of action;
(vi) all rights, duties, and obligations are controlled by the policy and contract of insurance; and
(vii) the standard homeowner's insurance policy does not cover losses from flood.
Nature of statement
(b) The statement under subsection (a) of this section:
(1) is not part of the policy or contract of insurance; and
(2) does not create a private right of action.
Delivery of statement by electronic means
(c) The statement required by subsection (a) of this section may be delivered by electronic means if the insurer complies with the requirements of § 27-601.2 of this article.
(d) The Commissioner may adopt regulations to implement the provisions of this section.


Added by Acts 2006, c. 388, § 2, eff. Jan. 1, 2007. Amended by Acts 2013, c. 406, § 1, eff. Oct. 1, 2013; Acts 2017, c. 123, § 1, eff. Oct. 1, 2017; Acts 2017, c. 124, § 1, eff. Oct. 1, 2017.
MD Code, Insurance, § 19-205, MD INSURANCE § 19-205
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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