2013 Maryland Code
§ 19-403 - Setting premium rates

MD Ins Code § 19-403 (2013) What's This?


(a) The Commissioner may:

(1) determine whether the premium rates of an insurer adequately cover the risks applicable to a workers’ compensation insurance policy under Titles 9 and 10 of the Labor and Employment Article; and

(2) require the insurer to set premium rates that are adequate to cover those risks.

(b) Each insurer shall set premium rates for workers’ compensation insurance in accordance with the requirements of the Commissioner under subsection (a) of this section.

(c) (1) A person that violates subsection (b) of this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000.

(2) The Commissioner may revoke the certificate of authority of a person that is convicted under this section.

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