Summary of 2018 insurance legislation
Although state lawmakers wrapped up the 2018 legislative session a few months ago, a number of the insurance-related laws they passed will take effect in the coming months.
Among these is House Bill 1083/Senate Bill 673 (Chapter 485/Chapter 486) which raises the current rebating threshold, increasing the maximum value of educational materials, promotional materials, or articles of merchandise that can be offered and given out from $25 to $50 as of Oct. 1, 2018. The new law adds a provision stating that a person may not make the receipt of any such material or merchandise contingent on the sale or purchase of insurance. (Watch for updates to our online resource on rebating and inducements as the effective date nears.)
The Maryland Insurance Administration (MIA) recently published a bulletin providing insurance stakeholders with a summary of all of the 2018 insurance legislation signed into law by Gov. Larry Hogan. Access the bulletin, which includes life and health as well as property and casualty bills, for a summary of each and the effective dates.