Chapter 16. Filing of Underwriting Standards

This chapter applies to every insurer authorized to issue insurance policies which provide health, life, disability, property, or casualty coverage in this State and to insurers applying to engage in these kinds of insurance businesses in this State.

“Underwriting standards” means underwriting manuals, including any amendments or supplements to underwriting manuals, and those generally accepted practices of the insurer contained in written underwriting instructions, guidelines, and rules furnished by the insurer for use by its underwriters and insurance producers as standards for acceptance of risks.

When responding to the Commissioner, an insurer may request a finding that all or certain portions of its underwriting standards shall be considered confidential commercial information under State Government Article, §10-617(d), Annotated Code of Maryland. An insurer making this request shall state the reasons for considering the material confidential commercial information. The information furnished shall be regarded as confidential until the Commissioner rules otherwise.

An insurer shall retain for a period of at least 3 years all records pertaining to the establishment, implementation, and enforcement of its underwriting standards.