Scope. This regulation does not apply to: Professional liability insurance; Title insurance; or Workers' compensation insurance. In this regulation, “Exempt Commercial Purchaser” means any person purchasing commercial insurance that, at the time of placement, meets the following requirements: The person employs or retains a qualified risk manager to negotiate insurance coverage; The person has paid aggregate nationwide commercial property and casualty insurance premiums in excess of $100,000 in the immediately preceding 12 months; and The person meets at least 1 of the following criteria: The person possesses a net worth in excess of $20,000,000, as such amount is adjusted pursuant to §C of this regulation; The person generates annual revenues in excess of $50,000,000, as such amount is adjusted pursuant to §C of this regulation; The person employs more than 500 full-time or full-time equivalent employees per individual insured or is a member of an affiliated group employing more than 1,000 employees in the aggregate; The person is a not-for-profit organization or public entity generating annual budgeted expenditures of at least $30,000,000, as such amount is adjusted pursuant to §C of this regulation; or The person is a municipality with a population in excess of 50,000 persons. Effective on the fifth January 1 occurring after July 21, 2011, and each fifth January 1 occurring thereafter, the amounts in §B(3)(a), (b), and (d) of this regulation shall be adjusted to reflect the percentage change for the 5-year period in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor. Waiver of Diligent Search Requirement. An Exempt Commercial Purchaser may waive the diligent search requirement of Insurance Article, §3-306, Annotated Code of Maryland, for the procurement of a surplus lines insurance policy if: The surplus lines broker has disclosed to the Exempt Commercial Purchaser that the insurance may or may not be available from admitted insurers that may be subject to greater protection and regulatory oversight; and The Exempt Commercial Purchaser subsequently has requested the surplus lines broker in writing to procure nonadmitted insurance from or place the nonadmitted insurance with a nonadmitted insurer. The surplus lines broker shall: Retain for at least 3 years a copy of the written request document signed by the Exempt Commercial Purchaser; and Make the written request document available for inspection by the Commissioner on request. Procurement That Is Not Authorized By Regulation. This regulation does not authorize an Exempt Commercial Purchaser to procure surplus lines insurance: Solely to obtain a lower premium rate than would be accepted by an authorized insurer; Solely to obtain more favorable terms of the insurance contract; or To replace coverage on residential property that is insured by an authorized insurer and for which a renewal offer has been made on substantially the same terms and conditions as the current coverage. Premium Tax. This regulation does not exempt an Exempt Commercial Purchaser from payment of the premium tax on surplus lines insurance pursuant to Insurance Article, §3-324, Annotated Code of Maryland.