Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 15 - UNFAIR TRADE PRACTICES
Chapter 31.15.11 - Use of Credit History in Underwriting and Rate Making
Section 31.15.11.02 - Scope
Universal Citation: MD Code Reg 31.15.11.02
Current through Register Vol. 51, No. 19, September 20, 2024
A. In General. This chapter applies to insurers that sell or offer to sell homeowner's insurance or private passenger motor vehicle insurance.
B. Insurance Transaction Not Initiated by a Consumer.
(1) This chapter does not apply to the use of a credit report or a credit score derived from a credit report, by an insurer in an insurance transaction that:
(a) Is not initiated by a consumer; and
(b) Consists of a firm offer of insurance.
(2) If an insurer refuses to underwrite after a consumer submits an application in response to a firm offer of insurance made in accordance with §B(1) of this regulation, the refusal to underwrite:
(a) Is not part of a transaction that is not initiated by a consumer; and
(b) Is subject to this chapter and any provisions of the Annotated Code of Maryland that are applicable to underwriting, including Insurance Article, §
27-501, Annotated Code of Maryland.
C. Accuracy or Completeness of Information in Credit Report. This chapter does not apply to a dispute regarding the accuracy or completeness of information in a credit report.
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