Liability Insurance - Notice of Premium Increase

BULLETINS Liability Insurance – Notice of Premium Increase Bulletin No. 1987-2 DATE: July 1, 1987 TO: ALL PROPERTY AND CASUALTY INSURERS SUBJECT: Liability Insurance – Notice of Premium Increase It is the interpretation of the Maryland Insurance Division of Section 240A(d) of Article 48A, Annotated Code of Maryland, that an insurer shall notify the insured and agent when there is an increase in premium for a particular policy in this State of 20% or more over and above any premiums resulting from an increase in the units of exposure or any premiums resulting from an experience rating or retrospective rating plan. If the exact amount of premium increase cannot be provided, the insurer may send a reasonable estimate or range of the premium increase based upon the information available to it at the time the notice is sent. BY: _____________________________________________ Edward J. Muhl Insurance Commissioner