§ 1-101. Definitions
West's Annotated Code of MarylandInsuranceEffective: October 1, 2020
Effective: October 1, 2020
MD Code, Insurance, § 1-101
§ 1-101. Definitions
(b-1) “Affordable Care Act” means the federal Patient Protection and Affordable Care Act, as amended by the federal Health Care and Education Reconciliation Act of 2010, and any regulations adopted or guidance issued under the Acts.
(c) “Alien insurer” means an insurer that is formed under the laws of a jurisdiction other than the United States or a state.
(d)(1) “Annuity” means an agreement to make periodic payments for which the making or continuance of all or some of a series of the payments, or the amount of a payment, depends on the continuance of a human life.
(f) “Appointment” means an agreement between an insurance producer and insurer under which the insurance producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer.
(g) “Authorized insurer” means an insurer that holds a valid certificate of authority.
(h) “Burial insurance” includes any kind of agreement, certificate, policy, contract, bond, assurance guarantee, or other arrangement, by bylaw, regulation, or otherwise, in or by which the party that issues the certificate, policy, contract, bond, assurance guarantee, or other arrangement agrees to:
(i)(1) “Casualty insurance” means:
(ii) if issued as an incidental coverage with or supplemental to liability insurance and regardless of legal liability of the insured, insurance that provides medical, hospital, or surgical disability benefits to injured individuals and funeral and death benefits to dependents, beneficiaries, or personal representatives of individuals killed; or
(j) “Certificate of authority” means a certificate issued by the Commissioner to engage in the insurance business.
(m-1)(1) “First-class mail tracking method” means a mail tracking method that provides evidence of the date that a piece of first-class mail was accepted for mailing by the United States Postal Service.
(n)(1) “Foreign insurer” means an insurer that is formed under the laws of a jurisdiction other than this State.
(o) “Fund producer” means a licensed insurance producer, including a licensed independent insurance producer, that has been assigned an authorization code by the Maryland Automobile Insurance Fund.
(p)(1) “Health insurance” means insurance of human beings against:
(q) “Independent insurance producer” means an insurance producer:
(r) “Industrial life insurance” means life insurance provided by an individual policy with the term “industrial” printed on the policy as part of the brief description required by § 16-213 of this article, and under which premiums are payable monthly or more frequently, if the face amount of the insurance provided by the policy does not exceed $1,000.
(s) Except as expressly provided otherwise in this article, “insurance” means a contract to indemnify or to pay or provide a specified or determinable amount or benefit on the occurrence of a determinable contingency.
(t)(1) “Insurance business” includes the transaction of:
(u)(1) “Insurance producer” means a person that, for compensation, sells, solicits, or negotiates insurance contracts, including contracts for nonprofit health service plans, dental plan organizations, and health maintenance organizations, or the renewal or continuance of these insurance contracts for:
(i) an individual who performs clerical or similar office duties while employed by an insurance producer or insurer, including a clerical employee, other than a clerical employee of an insurer, who takes insurance information or receives premiums in the insurance producer's office, if the employee's compensation does not vary with the number of applications or amount of premiums;
(v) “Insurer” includes each person engaged as indemnitor, surety, or contractor in the business of entering into insurance contracts.
(w) “Licensed insurance producer” means an insurance producer that has:
(x)(1) “Life insurance” means insurance for which the probabilities of the duration of human life or the rate of mortality are an element or condition of the insurance.
(z)(1) “Marine insurance” includes:
(i) insurance against loss or damage in connection with any risk of navigation, transit, or transportation, including war risks, marine builder's risks and personal property floater risks, to vessels, craft, aircraft, automobiles, trailers, or vehicles of any kind, as well as all goods, freight, cargoes, merchandise, effects, disbursements, profits, money, bullion, precious stones, securities, choses in action, evidences of debt, valuable papers, bottomry and respondentia interests, and all other kinds of property and interests:
(iv) except as provided in paragraph (2) of this subsection, insurance against loss or damage to bridges, tunnels, other instrumentalities of transportation and communication, auxiliary facilities and related equipment, piers, wharves, docks, slips, other aids to navigation and transportation, dry docks, and marine railways; and
(aa) “Marine protection and indemnity insurance” means insurance against, or against legal liability of the insured for, loss, damage, or expense arising out of or incident to the ownership, operation, chartering, maintenance, use, repair, or construction of a vessel, craft, or instrumentality used in ocean or inland waterways, including legal liability of the insured for personal injury, illness, or death or for loss or damage to the property of another person.
(bb) “Mutual insurer” means an insurer that is incorporated without capital stock and the governing body of which is elected in accordance with this article.
(cc) “Negotiate” means to confer directly with or offer advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers.
(dd) “Person” means an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, partnership, firm, association, corporation, or other entity.
(gg)(1) “Property insurance” means insurance on real or personal property on land, in water, or in the air or an interest in real or personal property against loss or damage from any hazard or cause and against loss that is consequential to the loss or damage.
(2) “Property insurance” includes fire insurance, flood insurance, extended coverage insurance, homeowners insurance, farm owners insurance, allied lines insurance, earthquake insurance, growing crops insurance, aircraft physical damage insurance, automobile physical damage insurance, glass insurance, livestock insurance, and animal insurance.
(hh) “Reciprocal insurance” means insurance that arises from an exchange among subscribers of mutual agreements of indemnity and that is effected through an attorney in fact common to the subscribers.
(ii) “Reciprocal insurer” means an unincorporated aggregation of subscribers that operate individually and collectively through an attorney in fact to provide reciprocal insurance.
(jj) “Reinsurance” means a contract under which an insurer obtains insurance for itself from another insurer for all or part of an insurance risk.
(kk) “Sell” means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurer.
(ll) “Solicit” means to attempt to sell insurance or to ask or urge a person to apply for a particular kind of insurance from a particular insurer.
(mm) Except as otherwise expressly provided in this article, “state” means:
(nn) “Stock insurer” means an insurer that is incorporated with capital that is divided into shares and owned by its stockholders.
(oo) “Surety insurance” includes:
(4) insurance that indemnifies banks, bankers, brokers, or financial corporations or associations against loss from any cause of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts, other valuable papers, documents, money, precious metals, articles made from precious metals, jewelry, watches, necklaces, bracelets, gems, and precious and semi-precious stones, including loss during transportation by messenger or in armored motor vehicles, but not against other risks of transportation or navigation, and insurance against loss or damage to a bank's, banker's, broker's, or financial corporation's or association's premises or furniture, fixtures, equipment, safes, and vaults on the premises caused by burglary, robbery, theft, vandalism, or malicious mischief, or attempted burglary, robbery, theft, vandalism, or malicious mischief.
(pp) “Surplus lines insurance” means the full amount or kind of insurance needed to protect the interest of the insured that:
(qq) “Title insurance” means insurance of owners of property or other persons that have an interest in the property against loss by encumbrance, defective title, invalidity of title, or adverse claim to title.
(rr) “Unauthorized insurer” means an insurer that does not hold a certificate of authority.
(ss) “Wet marine and transportation insurance” means the part of marine insurance that includes only:
(tt)(1) “Wholesale life insurance” means life insurance that is:
Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997. Amended by Acts 1997, c. 57, § 2, eff. Oct. 1, 1997; Acts 2001, c. 731, §§ 1, 2, eff. July 2, 2001; Acts 2002, c. 18, § 1, eff. April 9, 2002; Acts 2009, c. 348, § 1, eff. June 1, 2009; Acts 2009, c. 349, § 1, eff. June 1, 2009; Acts 2009, c. 597, § 1, eff. June 1, 2009; Acts 2009, c. 598, § 1, eff. June 1, 2009; Acts 2011, c. 3, § 1, eff. July 1, 2011; Acts 2011, c. 4, § 1, eff. July 1, 2011; Acts 2011, c. 41, § 1, eff. Oct. 1, 2011; Acts 2011, c. 42, § 1, eff. Oct. 1, 2011; Acts 2014, c. 169, § 1, eff. Oct. 1, 2014; Acts 2014, c. 364, § 1, eff. Oct. 1, 2014; Acts 2018, c. 197, § 1, eff. Oct. 1, 2018; Acts 2018, c. 198, § 1, eff. Oct. 1, 2018; Acts 2020, c. 73, § 1, eff. Oct. 1, 2020; Acts 2020, c. 74, § 1, eff. Oct. 1, 2020.
Formerly Art. 48A, §§ 2 to 8, 14, 63 to 71, 73, 166, 184, 247, 248, 277, 278, 333, 364, 365, 387, 387A, 478B, 488, 492, 566, 631, 734.
MD Code, Insurance, § 1-101, MD INSURANCE § 1-101
Current with legislation effective through July 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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