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§ 11-403. Rate filings

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

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 11. Insurance Rating Law
Subtitle 4. Title Insurance Rating (Refs & Annos)
Effective: October 1, 2017
MD Code, Insurance, § 11-403
§ 11-403. Rate filings
Currentness
In general
(a)(1) Except as otherwise provided in this subsection, each title insurer shall file with the Commissioner all rates or premiums, supplementary rate information, forms of contracts, policies, or guarantees of insurance, and all modifications of contracts, policies, or guarantees of insurance that it proposes to use.
(2) A filing is not required for rates or premiums for a special or unusual guarantee as described in § 11-402(e)(2) of this subtitle.
Indication of character or extent of coverage contemplated
(b) Each filing shall indicate the character or extent of coverage contemplated under the rates and premiums for which it is made.
Filing and approval required for changes in rates, premiums, or in forms of contracts
(c) A title insurer may not make a change in rates or premiums or in the forms of contracts, policies, or guarantees of insurance unless a report that indicates the change has been filed with and approved by the Commissioner.
Obligation for filings fulfilled by licensed title rating organization
(d) A title insurer may satisfy its obligation to make filings by:
(1) being a member of or a subscriber to a licensed title rating organization that makes filings; and
(2) authorizing the Commissioner to accept filings on its behalf from the title rating organization.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997. Amended by Acts 2017, c. 38, § 2, eff. Oct. 1, 2017.
Formerly Art. 48A, § 242A.
MD Code, Insurance, § 11-403, MD INSURANCE § 11-403
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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