Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 08 - PROPERTY AND CASUALTY INSURANCE
Chapter 31.08.12 - Temporary Moratoriums and Weather Events
Section 31.08.12.02 - Filing a Temporary Moratorium Protocol
Universal Citation: MD Code Reg 31.08.12.02
Current through Register Vol. 51, No. 6, March 22, 2024
A. An insurer that intends to activate a temporary moratorium in response to an event or emergency listed in Regulation .03C of this chapter shall file its moratorium protocol with the Administration.
B. The moratorium protocol shall:
(1) Be filed with the Commissioner as an underwriting standard or as a rating rule prior to its use;
(2) Be filed for all lines of insurance business to which the underwriting standard or rating rule applies;
(3) Identify the events or emergencies listed in Regulation .03C of this chapter that will trigger the activation of the temporary moratorium; and
(4) Identify the events that will result in the deactivation of the temporary moratorium.
C. If a moratorium protocol under §B of this regulation is not filed with the Administration, a temporary moratorium as described in §A of this regulation is not valid and may subject the insurer to appropriate administrative action.
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