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.
State Affairs Manager
Posted: Friday, September 07, 2012 12:30:59 PM. Modified: Friday, October 26, 2012 8:28:58 AM.
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