Posted: 9/7/2012

NAMIC Comments on MIA Draft Regulation on Deductibles

NAMIC submitted written testimony today to the Maryland Insurance Administration in reference to draft regulation 31.08.13 - Application of a Percentage Deductible in the Case of a Hurricane or Other Storm.

In addition to emphasizing the importance of peril percentage deductibles to a thriving homeowners' market, NAMIC asked the MIA to emphasize the threshold of application of the regulation to deductibles over 5 percent. Additionally, NAMIC suggested changes to the regulation that would enable the deductible application when a hurricane warning is issued in any part of the state.

Contact:
Erin Collins
State Affairs Manager
ecollins@namic.org
804.878.6473