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§ 11-337. Rules and plans for recording and reporting of loss and expense experience

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 11. Insurance Rating Law
Subtitle 3. Competitive Rating (Refs & Annos)
Part VII. Administrative Provisions
MD Code, Insurance, § 11-337
§ 11-337. Rules and plans for recording and reporting of loss and expense experience
Currentness
In general
(a)(1) Each insurer shall file with the Commissioner, and the Commissioner shall review, reasonable rules and plans for the recording and reporting of loss and expense experience in appropriate form and detail.
(2) An insurer may not be required to record or report its experience on a classification basis that is inconsistent with its own rating system.
(3) The Commissioner may designate one or more rating organizations to help in gathering and compiling experience information.
Exchange of information and experience data
(b) The Commissioner and each insurer and rating organization may:
(1) exchange information and experience data with each other and with insurance supervisory officials, insurers, and rating organizations in other states; and
(2) consult with them about rate making and the application of rating systems.
Collection of relevant information
(c) Rating organizations shall collect all relevant information from member insurers.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 244P.
MD Code, Insurance, § 11-337, MD INSURANCE § 11-337
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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