# COMAR Title 31 — Maryland Insurance Administration

## Subtitle 05 — Assets, Liabilities, Reserves, and Investments of Insurers

### Chapter 10 — Financial Guaranty Insurance

#### Regulation .04 Credit Risk Exposure Limits.

*COMAR 31.05.10.04*

A. A financial guaranty insurer's outstanding total liability for municipal obligation bonds, special revenue bonds, and industrial development bonds shall be investment grade to the following extent:

  (1) For financial guaranty insurers rated AAA by a nationally recognized statistical rating organization, at least 95 percent;

  (2) For financial guaranty insurers rated AA by a nationally recognized statistical rating organization, at least 85 percent; and

  (3) For financial guaranty insurers rated A by a nationally recognized statistical rating organization, at least 70 percent.

B. By written request of a financial guaranty insurer, the Commissioner may approve any other level considered appropriate.