§ 24–306
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 24-306 (2026)
Title 24. State Created Mutual Societies and Other Entities
Subtitle 3. Chesapeake Employers' Insurance Company
§ 24–306LinkCopy Citation
(a)
The Company:
(1)
shall be an authorized insurer; and
(2)
on and after October 1, 2013, as a condition of being an authorized insurer, shall be the workers’ compensation insurer of last resort for employers covered under Title 9 of the Labor and Employment Article.
(b)
Before October 1, 2013, the Fund shall serve as the workers’ compensation insurer of last resort for workers’ compensation insurance and as a competitive workers’ compensation insurer under the same terms and conditions as the Fund served before October 1, 2012.
(c)
The Company may not cancel or refuse to renew or issue a policy except for:
(1)
nonpayment of a premium for current or prior policies issued by the Fund or the Company;
(2)
failure to provide payroll information to the Fund or the Company;
(3)
failure to cooperate in any payroll audit conducted by the Fund or the Company; or
(4)
failure to reimburse the Company under a policy with deductibles as required under § 19–404 of this article.
(d)
The Company may engage only in the business of workers’ compensation insurance in accordance with State law.
(e)
Subject to the requirements of Title 7 of this article, the Company may establish, own, or acquire a subsidiary for any lawful purpose if the subsidiary:
(1)
is, or after acquisition will be, wholly owned by the Company;
(2)
engages in a business activity that is ancillary to the workers’ compensation insurance business; and
(3)
is operated for the purpose of benefiting the Company.