The People's Insurance Counsel Division (PICD) represents the interests of Maryland Home Owners and Medical Professionals.
The People's Insurance Counsel Division welcomes your comments and suggestions. Click here to email firstname.lastname@example.org. And, please come visit us again soon.
April 2016 – LEGISLATIVE UPDATE – Legislation Passed That Expands Insurers Ability To Use Percentage DeductiblesCheck Your Policy To See If It Includes A Percentage Deductible. A deductible is the amount of money policyholders pay out-of-pocket before their insurance coverage kicks in, in most cases it is either a $500 or a $1,000 set amount. A "Percentage Deductible" is calculated as a percentage of the insured value of a house. Not a percentage of the loss. For example, if a homeowner insures her home for $250,000 and there is a 5% "percentage deductible" for hurricane losses, if the homeowner suffers a loss attributable to a hurricane the deductible will be $12,500. This legislative session House Bill 557 passed and expands insurers' ability to use percentage deductibles in two ways.
Please contact the PICD if your insurer applies a percentage deductible to your claim of is requiring you to include a percentage deductible in your policy.
April 2016 – LEGISLATIVE UPDATE – Insurers Now Using YOUR DRIVING HISTORY To Set Your Homeowner's Rates
Recently, insurers in Maryland began using a consumer's driving history to establish a homeowner's insurance rates. This legislative session, the People's Insurance Counsel Division introduced legislation that would prohibit this. The PICD believes that using an applicant's driving history to set premiums for that applicant's homeowner's insurance may be discriminatory and may have a disparate impact on Maryland's minority and urban homeowners. The PICD's legislation passed the House but did not pass the Senate. Instead, a study is being commissioned to learn more about this practice and any possible discriminatory impact.
Please contact the PICD if your homeowner's insurer is requesting information regarding your driving history.
April 2016 - Insurance Companies Are Required to Make Claim Checks Payable to You Not Contractors
Recently, the Maryland Insurance Administration found an insurer in violation of the Insurance Code for making a check payable solely to a contractor instead of the insured. The insurer could not provide the Insurance Administration with a signed authorization from permitting payment directly to the contractor, which is the standard operating procedure in the industry for payments to third party vendors. If your insurance company attempts to make a payment directly to a third party vendor for payments under your policy and you have not given them authorization, you should complain to the Maryland Insurance Administration.
Research suggests that more than half of consumers do not have an inventory of their possessions. Creating a simple home inventory helps you track what you own and what it is worth, making important insurance decisions easier. The National Association of Insurance Commissioners has created a free home inventory app to make creating your home inventory easier. Check it out now!! http://www.insureuonline.org/home_inventory_page.htm
Maryland Attorney General's
OfficePeople's Insurance Counsel Division200 St. Paul
StreetBaltimore, Maryland, 21202410-576-64321 (888)
The People's Insurance Counsel
Division welcomes your comments and suggestions. Click here to email email@example.com. And, please
come visit us again soon.
200 St. Paul Place, Baltimore, MD 21202
410-576-6300 / 1-888-743-0023 toll-free / TDD: 410-576-6372