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 31.15.11.04 - Homeowner's Insurance - Prohibition on Use of Credit History

Universal Citation: MD Code Reg 31.15.11.04

Current through Register Vol. 51, No. 19, September 20, 2024

With respect to homeowner's insurance, an insurer may not:

A. Refuse to underwrite, cancel, or refuse to renew a risk based wholly or partly on the credit history of an applicant or insured, including the absence of or inability to determine credit history;

B. Rate a risk based wholly or partly on the credit history of an applicant or insured, including the absence of or inability to determine credit history, in any manner, including:

(1) Providing or removing a discount or imposing or removing a surcharge;

(2) Assigning the insured or applicant to a tier; or

(3) Placing an applicant or insured with an affiliated insurer; or

C. Require a particular payment plan based wholly or partly on the credit history of an applicant or insured, including the absence of or inability to determine credit history.

Disclaimer: These regulations may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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