# COMAR Title 31 — Maryland Insurance Administration

## Subtitle 15 — Unfair Trade Practices

### Chapter 12 — Valuation of Motor Vehicles

#### Regulation .05 Contents of Settlement Offer.

*COMAR 31.15.12.05*

A. In General. A settlement offer made by an insurer pursuant to Regulation .04 of this chapter shall:

  (1) State the amount being offered;

  (2) Inform the claimant that, on request from the claimant, the insurer shall provide the claimant in writing:

    (a) A copy of the settlement offer;

    (b) The method used to arrive at the value of the motor vehicle, including identification of any books, manuals, or databases used;

    (c) A detailed explanation of the insurer's calculation of the motor vehicle's total loss value, including the calculation of any value added to the motor vehicle by options;

    (d) A list of all deductions that will be made from the value of the motor vehicle; and

    (e) A copy of the inspection guidelines relied on by the insurer to determine the condition of the vehicle at the time of the loss; and

  (3) Inform the claimant that the claimant may, in writing, reject the settlement offer and make a counteroffer in accordance with Regulation .06 of this chapter.

B. If a claimant makes a request under §A(2) of this regulation, the insurer shall provide a response within 7 business days of the date of the request.