Publication Date
2022-06-07
effective date
2022-10-01
jurisdiction
Maryland Increases Surplus Lines Fee Cap
Effective October 10, 2022, the policy fee a Surplus Lines Broker may charge on a policy issued by a surplus lines broker has been raised. The fee cap is now $200 on each personal lines policy and $500 OR 7% of the policy's premium (whichever is greater).
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.
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This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
Fees