The Maryland Insurance Administration published a bulletin providing information to insurers that intend to seek recoupment of the Maryland Insufficiency Assessment.

Insurers were required to elect whether they would recoup their share of the 2024 assessment by June 30, 2025. They can do so by charging an assessment to their commercial auto and private passenger auto policyholders. If an insurer did not make an election by June 30, 2025, then they have waived its option to impose an assessment surcharge.

For carriers that elected to recoup the assessment from their policyholders, they do not need to give notice of a premium increase to policyholders. However, the charge must appear on the premium billing statement as a line item as “Recoupment of MAIF assessment” along with the amount. The administration asks that carriers provide a sample of the premium billing statement given to policyholders by September 30, 2025.