Md. Code Regs. 31.08.08.05

Current through Register Vol. 51, No. 24, December 2, 2024
Section 31.08.08.05 - Deductible
A. An authorized insurer providing lead hazard coverage under Insurance Article, § 19-704, Annotated Code of Maryland:
(1) Shall offer the coverage without a deductible for the lead hazard coverage; and
(2) May offer the coverage with a deductible for the lead hazard coverage.
B. When an insurer pays a claim on the policy with a deductible, the:
(1) Insurer shall pay the claim, including any applicable deductible; and
(2) Insured shall reimburse the insurer for any amount paid up to the limit of any applicable deductible.

Md. Code Regs. 31.08.08.05

Regulations .05 adopted as an emergency provision effective November 30, 1994 (21:26 Md. R. 2181)
Regulations .05 adopted effective March 13, 1995 (22:5 Md. R. 367)