§ 5–1003
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 5-1003 (2026)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 10. Limitation of Risk
§ 5–1003LinkCopy Citation
(a)
(1)
Subject to § 5-1004 of this subtitle and except as provided under § 5-1005 of this subtitle, an insurer may not retain a risk on any one subject of insurance, whether located or to be performed in the State or outside of the State, in an amount exceeding 10% of the insurer’s surplus to policyholders.
(2)
An insurer’s surplus to policyholders shall be determined at the time a risk is assumed from the more recent of:
(i)
the last sworn statement of the insurer on file with the Commissioner; or
(ii)
the last examination report of the insurer.
(b)
In determining the amount of risk retained by an insurer, a deduction shall be made for reinsurance ceded by the insurer for which credit is allowed under § 5-904 of this title.