Maryland insurance administration calls on commercial insurers to work with consumers

State Issues Covid-19 Maryland Consumer Finance

On April 13, the Maryland insurance administration commissioner issued a bulletin to all property and casualty insurers regarding commercial insurance in light of the Covid-19 crisis. The bulletin called on insurers to cooperate with impacted insureds to revise policies utilizing estimated payroll and revenue; waive or reduce short-rate cancellation penalties; rely on pre-crisis data when assessing credit-worthiness for underwriting; and refrain from penalizing insureds that have inquired or filed business interruption claims that have not involved claim payments.