§ 27-603. Notice of cancellation or nonrenewal; commercial insurance
West's Annotated Code of MarylandInsuranceEffective: October 1, 2014
Effective: October 1, 2014
MD Code, Insurance, § 27-603
§ 27-603. Notice of cancellation or nonrenewal; commercial insurance
(b)(1) Whenever an insurer, as required by subsection (c) of this section, gives notice of its intention to cancel or not to renew a policy issued in this State for a reason other than nonpayment of premium, the insurer shall notify the insured of the possible right to replace the insurance under the Maryland Property Insurance Availability Act,1 through the Maryland Automobile Insurance Fund, or through another plan for which the insured may be eligible.
(c)(1) Subject to paragraph (5) of this subsection, at least 45 days before the date of the proposed cancellation or expiration of the policy, the insurer shall send to the insured, by a first-class mail tracking method or by commercial mail delivery service, written notice of intention to cancel for a reason other than nonpayment of premium or notice of intention not to renew a policy issued in the State.
(d) At least 10 days before the date an insurer proposes to cancel a policy for nonpayment of premium, the insurer shall send to the insured, by a first-class mail tracking method, a written notice of intention to cancel for nonpayment of premium.
(e)(1) If an insurer provides a renewal policy and notice of premium due to an insured at least 45 days before the renewal date of the policy and the insured fails to make the required payment by the renewal date, the insurer may terminate the policy on the renewal date for nonpayment of premium after sending to the insured, by a first-class mail tracking method, a written offer to reinstate the renewal policy without lapse in coverage.
Credits
Added by Acts 2006, c. 580, § 2, eff. Jan. 1, 2007. Amended by Acts 2009, c. 379, § 1, eff. Oct. 1, 2009; Acts 2014, c. 364, § 1, eff. Oct. 1, 2014.
Footnotes
Insurance, § 25-401 et seq.
MD Code, Insurance, § 27-603, MD INSURANCE § 27-603
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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