§ 4-311

Maryland § 4-311

• Jurisdiction: Maryland
• Article gin: Insurance
• Title: 4

Text

(a) The provisions of this subtitle are supplemental to other laws of the State, and may not preclude or limit any other powers or duties of the Commissioner.

(b) (1) The Commissioner may adopt regulations to carry out this subtitle.

(2) The Commissioner, in consultation with the Secretary of Health, shall adopt regulations that apply appropriate risk based capital standards to managed care organizations as defined under § 15–101(e) of the Health – General Article.

(c) The Commissioner may exempt from the application of this subtitle any domestic property and casualty insurer that:

(1) writes direct business only in the State;

(2) writes direct annual premiums of $2,000,000 or less; and

(3) assumes no reinsurance in excess of 5% of direct premiums written.

(d) The Commissioner may exempt from the application of this Act any domestic health insurer that:

(1) (i) writes direct business only in the State;

(ii) assumes no reinsurance in excess of 5% of direct premiums written; and

(iii) writes direct annual premiums for comprehensive medical business of $2,000,000 or less; or

(2) covers less than 2,000 lives if the health insurer is:

(i) a nonprofit health service plan that provides coverage solely for dental services; or

(ii) a dental plan organization.