A lead hazard exclusion contained in a contract of insurance issued or renewed on or after January 1, 1995, shall be waived with respect to an affected property which is covered under the policy to the extent of a qualified offer made or to be made under Environment Article, Title 6, Subtitle 8, Part V, Annotated Code of Maryland, if: The affected property is in compliance with the provisions of Environment Article, Title 6, Subtitle 8, Part III, Annotated Code of Maryland; Without regard to whether a change in occupancy has occurred, and at the election of the insured, the affected property: Passes the test for lead-contaminated dust under Environment Article, §6-816, Annotated Code of Maryland, or Has undergone the lead hazard reduction treatments and complies with the risk reduction standards under Environment Article, §6-815(a)(2), Annotated Code of Maryland; and The insured, under Environment Article, §6-818, Annotated Code of Maryland, submits to the authorized insurer a current verified report of an accredited inspector certifying that the affected property complies with the standards set forth in §B of this regulation.