Md. Code Regs. 31.06.01.02

Current through Register Vol. 51, No. 22, November 1, 2024
Section 31.06.01.02 - Method

Beginning with the annual statement for the calendar year 1970, to be filed on or before March 1, 1971, each insurer shall allocate its premiums in accordance with the following:

A. Property and Casualty.

Line of BusinessJurisdiction Charged
FireLocation of risk
Extended CoverageLocation of risk
Other Allied LinesLocation of risk
Homeowners Multiple PerilLocation of risk
Commercial Multiple PerilLocation of risk
EarthquakeLocation of risk
Growing CropsLocation of risk
Wet MarineJurisdiction in which contract of insurance is negotiated and placed, except builders' risks to jurisdiction in which risk is located.
Inland MarinePrincipal address of policy holder
Group Accident & Health, Including CreditGroups under 500 employee/member/debtor lives, jurisdiction in which the largest number of lives are located according to the records of the insurer. Groups of 500 or more not all in one jurisdiction, by ratio of lives in each jurisdiction to total lives under policy.
Other Accident & HealthAddress to which premium notice is sent
Workmen's CompensationLocation of insured's operation
Liability other than Auto (B.I.)Location of risk or operation
Liability other than Auto (P.D.)Location of risk or operation
Auto Liability (B.I.)Location of principal garage
Auto Liability (P.D.)Location of principal garage
Auto Physical DamageLocation of principal garage
Aircraft Physical DamageLocation of principal hangar
Fidelity:
Bankers Blanket BondLocation of employer
Mercantile Blanket BondLocation of employer
Employees Individual BondsLocation of employer
Employees Schedule BondsLocation of employer
U.S. Government Employee BondsLocation of employer
Public Official BondLocation of insured
Fraud BondsLocation of insured
Forgery BondsLocation of insured
Merchants Protective BondsLocation of insured
Surety:
Depository BondsLocation of principal
Judicial BondsLocation of court
Court BondsLocation of court
License BondsLocation of obligee
Construction BondsLocation of work
Supply BondsLocation of principal
Public OfficialLocation of principal's employment
Indemnity & Miscellaneous BondsLocation of principal
Credit Insurance, IndemnityPrincipal office of the insured
Mortgage GuarantyLocation of mortgaged property
GlassLocation of risk
Burglary and TheftLocation of risk
Boiler and MachineryLocation of risk

B. Life.

ClassificationJurisdiction Charged
Ordinary Life, Including CreditAddress to which the premium notice is sent
Industrial Life and Monthly Debit OrdinaryLocation of debit(when debit includes two or more jurisdictions, apply ratio of amount in force in each jurisdiction to total debit)
Single PremiumsAddress of insured's residence
Group Life, Including CreditGroups under 500 employee/member/debtor lives, jurisdiction in which the largest number of lives are located according to the records of the insurer.
Groups of 500 or more not all in one jurisdiction, by ratio of lives in each jurisdiction to total lives under policy.

C. Accident and Health.

ClassificationJurisdiction Charged
Individual, Including CreditAddress to which premium notice is sent
Industrial and Monthly DebitLocation of debit (when debit includes two or more jurisdictions, apply ratio of amounts in force in each jurisdiction to total debit)
Group, Including CreditGroups under 500 employee/member/debtor lives, jurisdiction in which the largest number of lives are located according to the records of the insurer.
Groups of 500 or more not all in one jurisdiction, by ratio of lives in each jurisdiction to total lives under policy.

D. Annuity Allocations. Insofar as annuity considerations are taxable, they shall be allocated by the same method as that adopted for life insurance premiums.
E. Title Allocations. Title insurance premiums are to be allocated to location of risk.
F. Federal Areas Allocations. Business done at Army, Navy, or Air Force bases, and other similar federal installations, shall be allocated to the jurisdiction of the insured's residence, as listed on the application.

Md. Code Regs. 31.06.01.02

Regulations .02 effective December 1, 1969