Maryland Automobile Insurance Fund - Fund Producer Commission Rate

Summary

The bill eliminates the rule that the Maryland Automobile Insurance Fund must pay fund producers at least a 10% commission on private passenger auto policies, allowing the Fund to choose any rate as long as it does not exceed 15% of the total premium. It also adds limits on when commissions can be paid, such as prohibiting fully earned commissions and payments when an applicant does not qualify or fails to make the initial payment. The changes affect the Fund, its fund producers, and the drivers who buy policies through the Fund.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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