The Maryland Insurance Administration published a bulletin informing insurers of their options on how to notify the Administration when a producer has been rightfully terminated.
Maryland Annotated Code requires insurers to notify the commissioner of insurance when a producer has been terminated due to engaging in any of the acts listed in MD Insurance Code §10-126. The statute includes actions such as intentional misrepresentation, committing fraudulent or dishonest practices in the insurance business, and others.
Insurers can notify the commissioner either by emailing [email protected] supporting documents or completing an online form.
The bulletin can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.