# COMAR Title 31 — Maryland Insurance Administration

## Subtitle 15 — Unfair Trade Practices

### Chapter 12 — Valuation of Motor Vehicles

#### Regulation .06 Response by Claimant to Settlement Offer.

*COMAR 31.15.12.06*

A. In General. After receipt of a settlement offer, a claimant may:

  (1) Accept the offer; or

  (2) In writing, reject the offer and make a counteroffer based on:

    (a) Dealer quotations for a substantially similar motor vehicle;

    (b) Advertisements for a substantially similar motor vehicle; or

    (c) Any other source of valuation for a substantially similar motor vehicle.

B. Duty of Insurer. If an insurer rejects a claimant's counteroffer made pursuant to §A(2) of this regulation, the insurer shall, within 5 business days, send to the claimant a written explanation in clear and understandable language of why the information relied on by the claimant in the counteroffer does not provide a more accurate valuation than the information relied on by the insurer in its offer.