Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 31. Maryland Insurance Administration |
Subtitle 03. INSURANCE PRODUCERS AND OTHER INSURANCE PROFESSIONALS |
Chapter 31.03.14. Notice of Payment Options When Premium Financing is Offered |
Sec. 31.03.14.01. Purpose
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A. The purpose of this chapter is to assure fair disclosure of availability of alternative payment plans and financing options when consumers purchase property and casualty insurance.
B. This chapter is also designed to aid consumers by creating an industry standard with regard to required disclosure of insurers' alternative payment plans and premium financing agreements.