The Maryland Insurance Administration published a bulletin reminding insurers that they are required to include interest when restitution is paid.

Under Section 4-113(d)(2) of the Insurance Article, the Commissioner may require an insurer to make restitution to a person who has suffered financial injury because of a violation of the Insurance Article. When restitution is paid, interest must be included.

Certain statutes provide the specific interest amounts, but when the amount is not specified, the interest is six percent per annum. Interest accrues from the date of the violation to the date that payment is made.