Maryland Insurance Accident-and-Health-or-Sickness-Producer Reddit Questions

Adviser contracts (Insurance Article, § 10-201) require fee amounts, contract duration, and commission disclosure for transparency. The consultant’s license expiration is a regulatory detail, not a client contract requirement.

References:Maryland Insurance Article, § 10-201; MIA adviser rules.

Rebating (Insurance Article, § 27-212) involves offering part of a commission to entice a purchase, an illegal practice in Maryland unless part of an approved plan. Twisting misrepresentspolicies, replacement swaps coverage, and retention isn’t a trade practice term. This protects fair competition.

References:Maryland Insurance Article, § 27-212; MIA trade practice rules.

The Maryland Insurance Administration (MIA) is a state agency under Insurance Article, § 2-101, regulating insurance within Maryland. The federal government oversees broader laws, the NAIC is a voluntary group, and the General Assembly legislates, but the MIA operates as an executive state entity.

References:Maryland Insurance Article, § 2-101; MIA official structure.