Md. Code Ann., Ins. § 27-601.1
Renewal of insurance policies
Effective Oct 1, 2009Added by Acts 2008, c. 117, § 1, eff. Oct. 1, 2008. Amended by Acts 2009, c. 98, § 1, eff. Oct. 1, 2009; Acts 2009, c. 99, § 1, eff. Oct. 1, 2009.State of Maryland
- (a) For purposes of this subtitle, with respect to policies of personal insurance, private passenger motor vehicle liability insurance, commercial insurance, and workers' compensation insurance, the issuance by an insurer of a new policy to replace an expiring policy issued by that insurer is a renewal.
(b) For purposes of this subtitle, with respect to policies of personal insurance, private passenger motor vehicle liability insurance, commercial insurance, and workers' compensation insurance, the issuance by an insurer of a new policy to replace an expiring policy issued by another admitted insurer within the same insurance holding company system, as defined in § 7-101 of this article, is a renewal if:
- (1) the policyholder's premium does not increase; and
- (2) the policyholder does not experience a reduction in coverage.
Added by Acts 2008, c. 117, § 1, eff. Oct. 1, 2008. Amended by Acts 2009, c. 98, § 1, eff. Oct. 1, 2009; Acts 2009, c. 99, § 1, eff. Oct. 1, 2009.