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MARYLAND INSURANCE ADMINISTRATION - page 41 / 43

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  • 1.

    Respondent currently holds a Certificate of Authority from the State of Maryland to act as an insurer pursuant to Insurance Article §§4-101 et seq. and all other relevant statutes.

  • 2.

    The Examination, the details of which are contained in the Administration Report #786-01 ("the Report"), concluded that Respondent committed various violations of the following Maryland laws and regulations:

    • Section 10-118(a) of the Insurance Article;

  • COMAR 31.09.05.05;

  • COMAR 31.09.05.06B;

  • COMAR 31.09.05.07B(2);

  • COMAR 31.09.05.10B;

  • COMAR 31.15.03.07C.

WHEREAS, the Parties mutually agree that the following resolution is reasonable

and that the public interest is served thereby.

WHEREAS, the Respondent has reviewed this Consent Order and enters into it

voluntarily.

THEREFORE, pursuant to the Insurance Article and the powers vested in the

Commissioner, the Parties agree and it is hereby, with the consent of the Respondent,

ORDERED, by the Commissioner, that:

  • 1.

    Respondent accepts the Report as final and waives any right to a hearing on or judicial review of the Report.

  • 2.

    Respondent shall take corrective actions to correct the deficiencies noted in the Consent Order within 180 days of the Consent Order being signed by the Commissioner.

  • 3.

    Respondent shall pay an administrative penalty to the State of Maryland for the violations contained in the Report in the amount of $7,500.00 within 30 days of the Consent Order being signed by the Commissioner.

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