Code of Maryland Regulations (“COMAR”) 31.08.12 / Temporary Property & Casualty Moratoriums

LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor BULLETIN 20-32 Date: August 13, 2020 To: All Property & Casualty Insurers and Producers Re: Code of Maryland Regulations (“COMAR”) 31.08.12 / Temporary Property & Casualty Moratoriums The Maryland Insurance Administration (“Administration”) hereby reminds all property and casualty insurers to review and abide by all of the requirements contained in COMAR 31.08.12 with respect to temporary insurance moratoriums. These requirements include, but are not limited to the following: 1. An insurer may not implement a moratorium unless the insurer has previously filed a moratorium protocol with the Administration for all lines of business that the insurer may wish to implement a moratorium; 2. The filed moratorium protocol must identify the events that will trigger and deactivate a moratorium; 3. The triggering of a moratorium must be reasonably related to the triggering event; 4. A moratorium may not be triggered absent at least one of the following events / emergencies: - The National Weather Service issues a hurricane or tropical storm watch, warning or advisory - The Governor or other governmental entity declares a state of emergency - An announcement of a voluntary or mandatory evacuation of part of or the entire State - The imposition of a curfew - An earthquake measuring 5.0 – 5.9 on the Richter scale within a 50-mile radius of the epicenter - An earthquake measuring > 5.9 on the Richter scale within a - 100-mile radius of the epicenter; 5. A moratorium may only be implemented for a line of business that is reasonably expected to be affected by the triggering event or emergency. KATHLEEN A. BIRRANE Commissioner JAY COON Deputy Commissioner 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov Please contact the Associate Commissioner for Property & Casualty, Robert Baron, with any questions concerning this Bulletin (Robert.Baron@Maryland.gov / 410.468.2353). KATHLEEN A. BIRRANE Commissioner By: Robert Baron, Associate Commissioner Property & Casualty signature on original