Maryland SB637 regulates commission rates for the Maryland Automobile Insurance Fund and conditions for commission payments.

Maryland SB637 sets the commission rate for private passenger auto insurance issued by the Maryland Automobile Insurance Fund between 10% and 15% of the total premium. The bill prohibits paying commissions on a fully earned basis, to prospective insureds who do not qualify under § 20–502, or if the insured's initial Insurance Fund requires commission payments. It also mandates refunding unearned commissions if a policy is canceled. The changes take effect October 1, 2026.

Maryland SB637 regulates commission rates for the Maryland Automobile Insurance Fund and conditions for commission payments.

Maryland SB637 sets the commission rate for private passenger auto insurance issued by the Maryland Automobile Insurance Fund between 10% and 15% of the total premium. The bill prohibits paying commissions on a fully earned basis, to prospective insureds who do not qualify under § 20–502, or if the insured's initial Insurance Fund requires commission payments. It also mandates refunding unearned commissions if a policy is canceled. The changes take effect October 1, 2026.