2013 Maryland Code
§ 19-205 - Annual summary statements.
(a) (1) An insurer shall provide a policyholder with an annual statement that summarizes the coverages and exclusions under the policy issued by the insurer.
(2) The insurer’s statement shall be clear and specific.
(3) The insurer’s statement shall state whether the coverages under the policy provide for replacement cost, actual cash value, or other method of loss payment for covered structures and contents.
(4) The insurer’s statement shall include a disclosure that states:
(i) the policyholder should read the policy for complete information on coverages and exclusions;
(ii) the policyholder should refer to the declarations page for a listing of coverages purchased;
(iii) the policyholder should communicate with the insurance producer or the insurer for any additional information regarding the scope of coverages in the policy;
(iv) the statement does not include additional optional coverage purchased by the policyholder, if any;
(v) the statement is not part of the policy or contract of insurance and does not create a private right of action;
(vi) all rights, duties, and obligations are controlled by the policy and contract of insurance; and
(vii) the standard homeowner’s insurance policy does not cover losses from flood.
(b) The statement under subsection (a) of this section:
(1) is not part of the policy or contract of insurance; and
(2) does not create a private right of action.
(c) The Commissioner may adopt regulations to implement the provisions of this section.
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