Change of Insurance Producer of Record

BULLETIN 20-03 Date: January 21, 2020 To: Insurers, Nonprofit Health Service Plans, and Health Maintenance Organizations (“Carriers”) Re: Change of Insurance Producer of Record The purpose of this bulletin is to provide guidance and to remind insurance carriers doing business in the State regarding the requirements of § 27-911(a) which states: “Each authorized insurer doing business in the State shall accept and honor each request by a policyholder for a change of insurance producer of record within 30 working days after receipt of the request unless the policyholder withdraws the request in writing.” For compliance with § 27-911, each authorized insurer must ensure that the request for a change of insurance producer of record is in writing and include the following items consistent with § 27-911(d)(2): (i) The policyholder’s name and address; (ii) The authorized insurer’s name and address; (iii) The policy number; (iv) The name and address of the new insurance producer of record; (v) The date of the request; (vi) The signature of the policyholder; and (vii) The signature of acceptance by the new insurance producer. Questions about this Bulletin may be directed to Theresa Morfe, Life & Health Market Conduct, Compliance and Enforcement at 410-468-2237 or email to Theresa.morfe@maryland.gov. AL REDMER, JR. Commissioner ERICA J. BAILEY Associate Commissioner Compliance & Enforcement LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov