Publication Date
2025-01-31
effective date
2025-01-31
jurisdiction
Maryland Credit Card Premium Payments FAQ Clarification
Posted January 30, 2025, Maryland posted an FAQ (Frequently Asked Questions) answering questions the Insurance Administration received from an earlier bulletin (17-10). The FAQ bulletin addresses:
- Payment of premiums by credit card is based on laws prohibiting unfair discrimination in the terms or conditions of insurance for insureds
- Insurers may not accept a premium or charge greater or less than the applicable classification and rates filed with the Commissioner or specified by the policy
- If an entity or person accepts premium payment by credit card, the service must be made available to all existing and prospective insureds
Please see the attachment for more information.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.
icon
analyzed
icon
pending
icon
effective
info
This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
General

Request a Demo