Plain Text Law

Chapter 11. Viaticals

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Regulation .01 Verification of Coverage for Life Insurance Policies.Copy Citation

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A.
An insurer shall respond to a request for verification of coverage submitted by a viatical settlement provider or a viatical settlement broker within 30 days after the request is received.
B.
The request by the viatical settlement provider or viatical settlement broker shall include all items required by Insurance Article, §8-610.1(a), Annotated Code of Maryland.
C.
An insurer may charge a fee as set forth in Insurance Article, §8-610.1(b), Annotated Code of Maryland.

Regulation .02 Form.Copy Citation

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A.
The “Verification of Coverage for Life Insurance Policies” form adopted by the Commissioner under §B of this regulation shall be used.
B.
The form required in §A of this regulation shall read as follows:
Chapter annotations
Authority: Insurance Article, §§2-209 and 8-610.1, Annotated Code of Maryland;
Ch. 146, Acts of 2006
History: Effective date: March 12, 2007 (34:5 Md. R. 562)