Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 08 - PROPERTY AND CASUALTY INSURANCE
Chapter 31.08.17 - Statement of Actual Reason for Cancellation or Nonrenewal of Commercial Insurance Policy
Section 31.08.17.03 - Statement of Actual Reason
Universal Citation: MD Code Reg 31.08.17.03
Current through Register Vol. 51, No. 6, March 22, 2024
A. Whenever an insurer cancels or refuses to renew a policy of commercial insurance for a reason other than nonpayment of premium, the insurer shall provide to the named insured a written statement of the actual reason for the cancellation or refusal to renew.
B. An insurer shall include in a statement of actual reason:
(1) An offer to provide additional information in support of the proposed action on the written request of the insured;
(2) A notice that if the insured would like additional information in support of the proposed action, the insured is required to send the written request for additional information within 30 days after the date of the statement of actual reason; and
(3) An address for the insured to submit the written request for additional information.
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