On May 29, 2024, the Maryland Insurance Administration (MIA) issued Bulletin 24-14 regarding form filing requirements related to the passage of Maryland House Bill 1482.
Maryland
Maryland Issues Bulletin Regarding House Bill 1482 to Address Form Filing Requirements
Jun 5, 2024 / by AAIS posted in Compliance, Maryland
Maryland Releases FAQ Regarding EUIM Coverage Opt-Out Form
May 8, 2024 / by AAIS posted in Compliance, Maryland
The Maryland Insurance Administration (MIA) has received many questions from carriers since their development and issuance of the new mandatory Enhanced Underinsured Motorist (EUIM) coverage opt-out form, required by Maryland House Bill 128 (2023). In response, the department has compiled the 21 most common questions and provided applicable answers.
Maryland Requests Accommodations for Those Impacted by Bridge Collapse
Apr 23, 2024 / by AAIS posted in Compliance, Maryland
On April 15, 2024, the Maryland Insurance Administration (MIA) issued Bulletin 24-9 to all carriers, both personal and commercial lines of insurance and all lines of life and health insurance, doing business in the state of Maryland to make reasonable accommodations to all individuals and businesses that were impacted by the reduced operations of the Port of Baltimore following the collapse of the Francis Scott Key Bridge.
Maryland Issues Bulletin Regarding Diminution of Value Damages
Apr 18, 2024 / by AAIS posted in Compliance, Maryland
On April 12, 2024, the Maryland Insurance Administration (MIA) issued Bulletin 24-8 to all insurers authorized to issue motor vehicle insurance in Maryland requiring uninsured/underinsured (UI/UIM) coverage for diminution of value damages.
Maryland Senate Bill 254, which was enacted on April 9, 2024, will require auto carriers to change the method of reporting insurance coverage to the Maryland Motor Vehicle Administration from an electronic to an online system. The bill also eliminates the requirement to report new policies for non-fleet vehicles and enacts a requirement to report all active policies. Under the bill, the format and cadence for online reporting will be determined by the MVA. The bill becomes effective on January 1, 2025.
Maryland Requests Contact Information Following Francis Scott Key Bridge Disaster
Apr 12, 2024 / by AAIS posted in Compliance, Maryland
The Maryland Insurance Administration (MIA) has requested that insurers provide contact information for the persons whom the MIA may contact directly regarding the Francis Scott Key Bridge collapse. The provided information should include:
Maryland Sends Reminder of Information Security Program Certification Deadline
Feb 16, 2024 / by AAIS posted in Compliance, Maryland
On February 14, 2024, the Maryland Insurance Administration (MIA) issued Bulletin No. 24-6 reminding those insurers required to file an Information Security Program Certification with the department that the annual filing deadline is April 15. The first certification is to be submitted to the department on or before April 15, 2024. The MIA reviewed criteria for a filing exemption in Bulletin No. 23-18. Bulletin No. 24-6 sets forth the primary method carriers are to use when filing the certification with the department.
Insurers' Disaster and Catastrophic Event Contact Info Due to Maryland by April 14th
On January 23, 2023, the Maryland Insurance Administration (MIA) issued Bulletin 23-1 regarding insurers' contact information in the event of a disaster or catastrophic event.