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 31.08.12.03 - Moratorium Protocol
Current through Register Vol. 51, No. 6, March 22, 2024
A. An insurer shall design a temporary moratorium protocol to have the least impact on the conduct of insurance business throughout the State as reasonably possible.
B. An insurer may not utilize the activation of a temporary moratorium to suspend the binding or writing of all of its lines of insurance business unless the suspension is reasonably related to the event or emergency that triggered the activation of the temporary moratorium.
C. A temporary moratorium may not become effective until triggered by at least one of the following events or emergencies:
D. The temporary moratorium shall be limited to parts of the State:
E. A temporary moratorium shall apply only to lines of insurance business that are reasonably expected to be affected by the events or emergencies listed in §C of this regulation that triggered the activation of the temporary moratorium.