§ 11-703. Premium rate and rate change requirements
West's Annotated Code of MarylandInsuranceEffective: October 1, 2017
Effective: October 1, 2017
MD Code, Insurance, § 11-703
§ 11-703. Premium rate and rate change requirements
(a) A carrier may not charge a premium to an insured under a policy or contract of long-term care insurance before the applicable premium rate is filed with and approved by the Commissioner.
(b) A carrier may not change the premium charged to an insured under a policy or contract of long-term care insurance until the applicable premium rate change has been filed with and approved by the Commissioner.
(c)(1) Any applicable premium rate or premium rate change of a carrier shall be filed with the Commissioner in accordance with regulations adopted by the Commissioner.
(d)(1) Except as provided in paragraph (2) of this subsection, at least quarterly, the Commissioner shall hold a public hearing to review long-term care insurance rate filings received by the Commissioner during the preceding 3-month period.
(e) The Commissioner shall provide all individuals present at a public hearing held under this subtitle who wish to testify an opportunity to do so, but may limit repetitious testimony.
Credits
Added by Acts 2017, c. 672, § 1, eff. Oct. 1, 2017.
MD Code, Insurance, § 11-703, MD INSURANCE § 11-703
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.
End of Document |