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§ 11-315. Homeowner’s insurance rates

West's Annotated Code of MarylandInsuranceEffective: January 1, 2010

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 11. Insurance Rating Law
Subtitle 3. Competitive Rating (Refs & Annos)
Part II. Rate Making--in General
Effective: January 1, 2010
MD Code, Insurance, § 11-315
§ 11-315. Homeowner’s insurance rates
Currentness
In general
(a) All homeowner's insurance rates shall be made in accordance with the principles set forth in this section.
Higher premiums due to specific claims
(b)(1) An insurer under a homeowner's insurance policy may not classify or maintain an insured for a period longer than 3 years in a classification that entails a higher premium because of a specific claim.
(2) For the purpose of determining whether to classify an insured in a classification that entails a higher premium, an insurer may review only a period not greater than 3 years before:
(i) if the policy has not yet been issued:
1. the date of the application; or
2. the proposed effective date of the policy; or
(ii) on renewal of a policy, the effective date of the renewal.
(3)(i) The removal of, reduction of, or refusal to apply a discount is not a violation of this subsection if the claim resulting in the removal of, reduction of, or refusal to apply the discount was filed not more than 5 years before the removal, reduction, or refusal.
(ii) Subparagraph (i) of this paragraph may not be construed to prevent an insurer from granting a claim-free discount to an insured.

Credits

Added by Acts 2009, c. 378, § 1, eff. Jan. 1, 2010.
MD Code, Insurance, § 11-315, MD INSURANCE § 11-315
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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