Maryland HB1387 regulates commission rates for fund producers issuing private passenger auto insurance through the Maryland Automobile Insurance Fund.
Maryland HB1387 amends the Maryland Automobile Insurance Fund's commission payment rules for fund producers. It sets a maximum commission rate of 15% of the total premium for private passenger auto insurance. The bill prohibits commissions on a fully earned basis and if the insured fails to qualify or does not honor the initial payment. If a policy is canceled, the Fund must refund any unearned commissions. This Act takes effect October 1, 2026.
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