WASHINGTON, D.C. (PRWEB) April 13, 2016
Eric Goldberg, Mid-Atlantic region vice president for the American Insurance Association (AIA), applauded the efforts of lawmakers following the adjournment of the Maryland General Assembly earlier this week. During the session, which ran January 13 to April 11, the legislature passed several bills aimed at improving the insurance environment for consumers and insurers. They included HB 557, which clarifies the way in which hurricane deductibles are used; HB 1408, which alters the requirements on an insurer to issue notice of a commercial premium increase; and HB 437, which enhances Maryland’s Prescription Drug Monitoring Program (PDMP). Gov. Larry Hogan (R) has signed HB 1408 into law. AIA urges him to sign HB 557 and HB 437 as well.
Mr. Goldberg’s statement follows:
“Overall, Maryland’s legislative session was an extremely positive one for insurers and their customers.
“Among the highlights was the passage of HB 557, which passed the Maryland House unanimously. The legislation will help provide greater clarity as to when hurricane percentage deductibles can be triggered and where they can be applied. This will greatly improve the insurance climate in the state for homeowners and insurers.
“AIA was also pleased to see the passage of HB 1408. This bill provides a limited exception to the requirement that insurers provide separate premium increase notices to commercial policyholders for minimal increases. Under prior law, insurers would have to provide these notices even if the premium went up by one dollar. The bill also provides important clarifications as to the acceptable methods of providing these notices.
“Finally, as the country continues to deal with a nationwide opioid epidemic, the passage of HB 437 will greatly enhance Maryland’s ability to combat this pressing issue. As we’ve seen across the country, PDMP’s play a crucial in preventing the overuse of opioids by injured workers. We applaud Gov. Hogan, as well as Del. Erek Barron and Sen. Kathy Klausmeier, for their steadfast leadership on this important issue. The insurance community remains committed to working with policymakers to bring this epidemic under control.”