Md. Code Regs. 31.08.16.03
Current through Register Vol. 51, No. 24, December 2, 2024
Section 31.08.16.03 - PurposeA. In this chapter the following terms have the meanings indicated. B. Terms Defined. (1) "Expiring premium" means: (a) The dollar amount of the premium charged at the beginning of the expiring policy term; and (b) If different, the dollar amount of the premium charged at the end of the expiring policy term on an annualized basis. (2) "Insurer" means an authorized property or casualty insurer that issues or delivers a policy of personal insurance in the State or a policy issued under the Maryland Property Insurance Av ailability Act or any similar act instituted to ensure the availability of property insurance. (3) "Maryland Property Insurance Availability Act" means insurance described in Insurance Article, Title 25, Subtitle 4, Annotated Code of Maryland. (4) "Personal insurance" means a policy of property insurance or casualty insurance as defined by Insurance Article, § 27-601(c), Annotated Code of Maryland. (5) "Renewal premium" means the dollar amount of the premium to be charged for the next policy term. Md. Code Regs. 31.08.16.03
Regulation .03 adopted effective 41:21 Md. R. 1261, eff.1/1/2015