- A. The applicant for self-insurance shall purchase excess insurance in an amount determined by the Commission.
- B. Specific retention amounts as defined in the excess policy shall be no higher than 5 percent of net worth or unrestricted net assets. The specific excess limit shall be not less than 20 times the specific retention amount or as otherwise ordered by the Commission.
- C. The applicant for self-insurance may request the intended specific retention amount and specific excess limit. The Commission shall order the approved amounts.
- D. The applicant for self-insurance shall provide proof of excess insurance by filing a copy of the excess certificate and a copy of the excess insurance policy with any endorsements with the Commission within 30 days of its issuance or renewal, or when requested by the Commission.
- E. Whenever the Commission makes a security deposit determination under Regulation .06 of this chapter, it also shall consider the terms and conditions of any excess insurance, including specific retention amount and specific excess limit.
- F. The Commission may waive this requirement for excess insurance for individually self-insured governmental entities.
Authority: Labor and Employment Article, §§9-309, 9-402, 9-403, 9-405, and 9-406, Annotated Code of Maryland
Effective date: April 12, 2004 (31:7 Md. R. 586)
Regulation .08 amended effective April 11, 2005 (32:7 Md. R. 683)
Chapter recodified from COMAR 14.09.10, Individual Employer Self-Insurer, to COMAR 14.09.13, Individual Employer Self-Insurer, effective March 3, 2014 (41:4 Md. R. 304)
Regulation .01B amended effective October 18, 2021 (48:21 Md. R. 890)
Regulation .02A amended effective October 18, 2021 (48:21 Md. R. 890)
Regulation .02C amended effective March 12, 2018 (45:5 Md. R. 288)
Regulation .04A amended effective March 12, 2018 (45:5 Md. R. 288)
Regulation .07 amended effective February 10, 2020 (47:3 Md. R. 172)
Regulation .08 amended effective October 18, 2021 (48:21 Md. R. 890)
Regulation .12 amended effective October 18, 2021 (48:21 Md. R. 890)