<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".02" citation="COMAR 31.08.10.02" title_num="31" subtitle_num="08" chapter_num="10" heading="Financial Information Report.">
  <paragraph num="A.">
    <text>Scope. An insurer that issues professional liability insurance to health care providers in the State shall submit to the Commissioner a financial information report.</text>
  </paragraph>
  <paragraph num="B.">
    <text>Confidential Information.</text>
    <paragraph num="(1)">
      <text>An insurer that submits a financial information report shall notify the Commissioner at the time of the submission of any information contained in the report that the insurer considers to be proprietary information.</text>
    </paragraph>
    <paragraph num="(2)">
      <text>The Commissioner, in accordance with State Government Article, §10-617(d) and (f), Annotated Code of Maryland, shall deny inspection of any part of a report submitted under this chapter that the Commissioner determines contains confidential commercial information or confidential financial information.</text>
    </paragraph>
  </paragraph>
  <paragraph num="C.">
    <text>Filing Requirements.</text>
    <paragraph num="(1)">
      <text>Insurers shall submit a financial information report by April 30 of each year for the preceding calendar year.</text>
    </paragraph>
    <paragraph num="(2)">
      <text>The financial information report shall state, in the aggregate:</text>
      <paragraph num="(a)">
        <text>The nature and cost of reinsurance for the insurer for the preceding calendar year;</text>
      </paragraph>
      <paragraph num="(b)">
        <text>The claims experience, by category, of health care providers insured by the insurer during the preceding calendar year;</text>
      </paragraph>
      <paragraph num="(c)">
        <text>The amount paid by the insurer under claim settlements and claim awards in the preceding calendar year;</text>
      </paragraph>
      <paragraph num="(d)">
        <text>The amount of reserves for claims incurred and for incurred but unreported claims held by the insurer at the close of the preceding calendar year; and</text>
      </paragraph>
      <paragraph num="(e)">
        <text>The number of claims settled by the insurer during the preceding calendar year that included structured settlement payments.</text>
      </paragraph>
    </paragraph>
  </paragraph>
</regulation>