Md. Code Regs. 31.08.01.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 31.08.01.02 - Antiarson Application

A. Each insurer or producer soliciting insurance requiring the use of an antiarson application shall obtain from the applicant the information required by the form of application designated as Standard Antiarson Application Part 1 as set forth in Regulation .03 of this chapter. The completed application shall be obtained before the risk is bound.

B. The insurer or producer may not bind the risk or issue the coverage unless the applicant returns a completed and signed antiarson application.

C. If the Part 1 application indicates that further information is necessary, the insurer or producer shall require the applicant to complete the Standard Antiarson Application Part 2, as set forth in Regulation .04 of this chapter.

D. The insurer may cancel the policy or binder under either of the following circumstances by giving the insured a notice of cancellation stating the specific reason for the action:

(1) If the applicant does not furnish the insurer a completed and signed Antiarson Application Part 2 within 20 days after being requested to do so; or

(2) Under the conditions stated in Insurance Article, § 19-309, Annotated Code of Maryland, within 90 days from receipt by the insurer of the Antiarson Application Part 2.

E. Changes In Information Given In Antiarson Application.

(1) In delivering any policy in connection with which an antiarson application was received, the insurer shall notify the policyholder that the policyholder is required to inform the insurer in writing of any change in the information originally given in an Antiarson Application, Part 1 or Part 2.

(2) The failure of the policyholder to notify the insurer in writing of any material change within 20 days of the change, shall be considered grounds to rescind the policy.

Md. Code Regs. 31.08.01.02

Regulation .02 amended effective 44:4 Md. R. 256, eff. 1/1/2018