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2017 Maryland Code
Insurance
Title 19 - Property and Casualty Insurance
Subtitle 2 - Homeowner's Insurance Policies
§ 19-210. Actuarially justified premium discount
Universal Citation: MD Ins Code § 19-210 (2017)
- (a) Offering of discount. -- An insurer shall offer at least one actuarially justified premium discount on a policy of homeowner's insurance to a policyholder who submits proof of improvements made to the insured premises as a means of mitigating loss from a hurricane or other storm.
- (b) Mitigating loss. -- Means of mitigating loss include:
- (1) the installation of one or more of the following:
- (i) hurricane shutters;
- (ii) secondary water barrier;
- (iii) reinforced roof coverings;
- (iv) braced gable ends;
- (v) reinforced roof to wall connections;
- (vi) tie downs; and
- (vii) reinforced opening protections;
- (2) repair or replacement of:
- (i) exterior doors, including garage doors;
- (ii) hurricane resistant trusses, studs, and other structural components; and
- (iii) repair or replacement of manufactured home piers, anchors, and tie down straps; and
- (3) any mitigation effort that materially mitigates loss from a hurricane or other storm otherwise covered under the policy.
- (1) the installation of one or more of the following:
- (c) Inspection of improvements. -- Improvements made to the insured premises under this section shall be inspected by a contractor licensed by the Department of Labor, Licensing, and Regulation.
- (d) Inspection of improvements -- Verification; inspection certificate. --
- (1) An insurer shall be allowed to inspect the improvements that are the basis of a premium discount under this section.
- (2)
- (i) Verification of improvements that are the basis of a premium discount under this section rests with the insurer.
- (ii) An insurer may accept an inspection certificate issued by a governmental agency as verification of improvements that are the basis of a premium discount under this section.
- (e) Requirements of discount. -- A premium discount offered under this section shall:
- (1) comply with the provisions of Title 11 of this article; and
- (2) only be offered for improvements identified by the Commissioner as qualified mitigation actions made to the insured premises that may materially mitigate loss from a hurricane or other storm otherwise covered under the policy.
- (f) Annual statement concerning discount; renewal notice requirements. --
- (1) An insurer that offers a premium discount under this section shall provide a policyholder with an annual statement regarding the availability of the discount and the method of applying for the discount.
- (2) The notice required under paragraph (1) of this subsection may be sent with the statement required under § 19-205 of this subtitle.
- (3) An insurer may comply with the renewal notice requirements of this subsection by sending the notice authorized by § 19-216 of this subtitle.
- (g) Delivery of notice by electronic means. -- The notice required by this section may be delivered by electronic means if the insurer complies with the requirements of § 27-601.2 of this article.
- (h) Regulations. -- The Commissioner may adopt regulations to implement the provisions of this section.
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