The Guaranty Corporation is a statutory entity created in 1970 when the Maryland General Assembly enacted the Life and Health Insurance Guaranty Corporation Act. The form of organization and name of the Corporation was changed by legislation in 1980. The Guaranty Corporation is composed of all insurers licensed to sell life insurance, accident and health insurance, and individual annuities in the State of
Maryland. Under the Guaranty Corporation Act, the Corporation provides limited protection to Maryland residents who are holders of life and health insurance policies and individual annuities issued by the Guaranty Corporation's member insurers in the event that the insurers which issued the insurance policy or individual annuity became insolvent. The Guaranty Corporation is governed by a Board of Directors elected by and from its member insurers. It operates under the supervision of the
Maryland Insurance Commissioner. When an insolvent member insurer is also licensed in states other than Maryland, the Guaranty Corporation generally cooperates with those states guaranty associations under the auspices of the National Organization of Life & Health Insurance Guaranty Associations. NOTICE OF PROTECTION PROVIDED BY MARYLAND LIFE AND HEALTH INSURANCE GUARANTY CORPORATION This notice provides a brief summary of the Maryland Life and Health Insurance Guaranty
Corporation (the Corporation) and the protection it provides for policyholders. This safety net was created under Maryland law, which determines who and what is covered and the amounts of coverage. The Corporation is not a department or unit of the State of Maryland and the liabilities or debts of the Life and Health Insurance Guaranty Corporation are no liabilities or debts of the State of Maryland. The Corporation was established to provide protection in the unlikely event
that your life, annuity, or health insurance company becomes financially unable to meet its obligations and is taken over by its Insurance Department. If this should happen, the Corporation will typically arrange to continue coverage and pay claims, in accordance with Maryland law, with funding from assessments paid by other insurance companies. The basic protections provided by the Corporation are:
• Life Insurance
° $300,000 in death benefits
° $100,000 in cash surrender or
withdrawal values • Health Insurance
° $500,000 for basic hospital, medical, and surgical insurance or major medical insurance provided by health benefit plans
° $300,000 for disability insurance
° $300,000 for long-term care insurance
° $100,000 for a type of health insurance not listed above, including any net cash surrender and net cash withdrawal values under the types of health insurance listed above • Annuities
° $250,000 in the present value of annuity
benefits, including net cash withdrawal values and net cash surrender values
° With respect to each payee under a structured settlement annuity or beneficiary of the payee, $250,000 in present value annuity benefits, in the aggregate, including any net cash surrender and net cash withdrawal values.
• The maximum amount of protection for each individual, regardless of the number of policies or contracts, is:
° $300,000 in aggregate for all types of coverage listed above, with the
exception of basic hospital, medical, and surgical insurance or major medical insurance
° $500,000 in aggregate for basic hospital, medical, and surgical insurance or major medical insurance NOTE: Certain policies and contracts may not be covered or fully covered. For example, coverage does not extend to any portion(s) of a policy or contract that the insurer does not guarantee, such as certain investment additions to the account value of a variable life insurance policy or a variable
annuity contract. There are also various residency requirements and other limitations under Maryland law. From Ballotpedia
| Maryland Commissioner of Insurance
|
| | General information
| | Office Type:
| Nonpartisan
| | Office website:
| Official Link
| | Compensation:
| $174,621
| | 2022 FY Budget:
| $33,055,842
| | Term limits:
| None
| | Structure
| | Length of term:
| 4 years
| | Selection Method:
| Appointed by the governor
| | Current Officeholder
| | Kathleen Birrane
| | Other Maryland Executive Offices
| | Governor • Lieutenant Governor • Secretary of State •
Attorney General • Comptroller • Treasurer •
Superintendent of Education • Agriculture Secretary • Insurance Commissioner • Natural
Resources Commissioner • Secretary of Labor • Public Service Commission
|
The Maryland Commissioner of Insurance serves as head of the Maryland Insurance Administration, an independent agency within the state executive branch created in 1993. Prior to that, insurance was a part of the Department of Licensing and Regulation. The commissioner oversees the department's efforts to regulate the state's insurance companies and producers and investigate complaints consumers have about their insurance
coverage.[1] Current officeholderThe current officeholder is Kathleen
Birrane.[2] She was appointed by Gov. Larry Hogan in May
2020.[3] The Maryland Commissioner of Insurance's powers, term of office, etc. are derived from the Insurance Statute of the Maryland
Code of Public General Laws. Section 2-101:
|
| | (a) (1) There is a Maryland Insurance Administration.(2) The Administration is an independent unit of the State government.(b) The head of the Administration is the Maryland Insurance Commissioner.(c) The Commissioner shall control and supervise the Administration.[4]
|
QualificationsNote: Ballotpedia's state executive officials project researches the constitutional or statutory text that establishes the requirements necessary to qualify for a state executive office. That information for the Maryland Commissioner of Insurance has not yet been added. After extensive research,
we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us. AppointmentsMaryland state government organizational chart The commissioner of insurance is appointed by the
governor, with state Senate advice and consent, to a four-year term.[4] VacanciesNote:
Ballotpedia's state executive officials project researches the constitutional or statutory text that details the process of filling vacancies for a state executive office. That information for the Maryland Commissioner of Insurance has not yet been added. After extensive research, we were unable to identify any relevant information on state official websites. If you have any
additional information about this office for inclusion on this section and/or page, please email us. DutiesThe Maryland Insurance Administration has the following responsibilities:[2] - Protect Maryland consumers by
regulating the state's insurance companies and producers.
- Investigate complaints consumers have about their insurance coverage, including, but not limited to, life, health, automobile, and homeowners.
- License insurance companies and producers operating in Maryland.
- Conduct financial examinations of insurance companies to ensure solvency.
- Conduct market conduct examinations to ensure compliance with Maryland's insurance laws.
- Investigate acts of insurance
fraud.
- Review and approve rates and contract forms.
DivisionsUpdated January 20, 2021The Maryland Insurance Administration is divided into the following divisions:[5] - Office of the Commissioner
- Commissioner, Deputy Commissioner, Chief
of Staff, Associate Commissioner for Hearings
- Public Affairs
- Government Relations
- Regulations
- Fiscal Services
- Human Resources
- Management Information Systems
- Consumer Education and Advocacy
- Examination & Auditing
- Insurance Fraud
- Life
& Health
- Property & Casualty
- Office of the Attorney General
- Office of the Chief Actuary
State budgetSee also: Maryland state budget and financesThe Insurance Administration and Regulation's budget for fiscal year 2022 was
$33,055,842.[6] CompensationSee also: Compensation of state executive officers2021In 2021, the commissioner
received a salary of $174,621, according to the Council of State Governments.[7] 2020In 2020, the insurance commissioner received a salary of $157,386, according to the
Council of State Governments.[8] 2019In 2019, the insurance commissioner received a salary of $157,386, according to the
Council of State Governments.[9] 2018In 2018, the insurance commissioner received a salary of $157,386, according to the
Council of State Governments.[10] 2017In 2017, the insurance commissioner received a salary of $157,386, according to the
Council of State Governments.[11] 2016In 2016, the insurance commissioner received a salary of $157,386, according to the
Council of State Governments.[12] 2015In 2015, the insurance commissioner's salary was estimated between $124,175 and $166,082, according to the
Council of State Governments.[13] 2014In 2014, the commissioner's salary was estimated between $124,175 and $166,082, according to the
Council of State Governments.[14] 2013In 2013, the commissioner's salary was estimated between $124,175 and $166,082, according to the
Council of State Governments.[15] 2012In 2012, the commissioner of insurance was paid an estimated
$166,082, according to the Council of State Governments.[16] 2010In
2010, the commissioner of insurance was paid an estimated $156,060, according to the Council of State
Governments.[17] Historical officeholdersNote: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders;
information for the Maryland Commissioner of Insurance has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us. Recent newsThe
link below is to the most recent stories in a Google news search for the terms Maryland Commissioner of Insurance. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles. Maryland Insurance Administration
200 Saint Paul Place, Suite 2700
Baltimore, MD 21202
1-800-492-6116
410-468-2000
See also
- Insurance Commissioner
- Alfred Redmer
- Maryland state executive offices
External links- Maryland Office of the Commissioner of Insurance
Footnotes- ↑ Maryland State
Archives, "Maryland Insurance Administration - Historical Evolution," accessed January 20, 2021
- ↑ 2.0 2.1
Maryland Insurance Administration, "About the Maryland Insurance Administration," accessed January 20, 2021
- ↑
The Office of Governor Larry Hogan, "Governor Hogan Appoints Kathleen A. Birrane as Maryland Insurance Commissioner," May 1, 2020
- ↑ 4.0 4.1 Maryland General Assembly, "Insurance," accessed January 20, 2021
- ↑
Maryland Insurance Administration, "MIA Divisions," accessed January 20, 2021
- ↑ Maryland Department of Budget
and Management, "Total Fund Appropriation Detail FY2022," accessed September 13, 2021
- ↑ Issuu, "The Book of the States 2021," accessed September 22, 2022
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2020," accessed January 20, 2021
- ↑
Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2019," accessed January 20, 2021
- ↑
Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2018," accessed January 20, 2021
- ↑
Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2017," accessed January 20, 2021
- ↑
Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed January 20, 2021
- ↑
Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed January 20, 2021
- ↑
Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed January 20, 2021
- ↑
Council of State Governments, "Table 4.11 Selected State Administrative Officials: Annual Salaries," accessed January 20, 2021
- ↑
Council of State Governments, "Table 4.11 Selected State Administrative Officials: Annual Salaries," accessed January 20, 2021
- ↑
The Council of State Governments, "The Book of States 2010 Table 4.11," accessed January 20, 2021
v • e Insurance Commissioners |
|---|
|
| | Elected (by voters)
| California • Delaware • Georgia •
Kansas • Louisiana • Mississippi •
Montana • North Carolina •
North Dakota • Oklahoma • Washington
| |
| | Appointed (by gov.)
| Alabama • Alaska • Arizona •
Arkansas • Colorado • Connecticut •
Florida • Hawaii • Idaho •
Illinois • Indiana • Iowa •
Kentucky • Maine • Maryland • Massachusetts •
Michigan • Minnesota • Missouri •
Nebraska • Nevada • New Hampshire •
New Jersey • New Mexico • New York •
Ohio • Oregon • Pennsylvania •
Rhode Island • South Carolina • South Dakota •
Tennessee • Texas • Utah •
Vermont • Virginia • West Virginia •
Wisconsin • Wyoming
| |
| | Elections
| 2022 • 2021 • 2020 •
2019 • 2018 • 2017 •
2016 • 2015 • 2014 •
2013 • 2012 • 2011 •
2010
| |
| | Other
| State executive offices • Chart of state executive officers • News
|
v • e State executive offices |
|---|
|
| | Offices
| Governor • Lt. Governor • Secretary of State • Attorney General •
Treasurer • Auditor • Superintendent of Schools • Insurance Commissioner •
Controller • Agriculture Commissioner • Natural Resources Commissioner • Labor
Commissioner • Public Service Commissioner
|
| |
| | States
| Alabama • Alaska • Arizona •
Arkansas • California • Colorado •
Connecticut • Delaware • Florida •
Georgia • Hawaii • Idaho •
Illinois • Indiana • Iowa •
Kansas • Kentucky • Louisiana •
Maine • Maryland • Massachusetts •
Michigan • Minnesota • Mississippi •
Missouri • Montana • Nebraska •
Nevada • New Hampshire • New Jersey •
New Mexico • New York • North Carolina •
North Dakota • Ohio • Oklahoma •
Oregon • Pennsylvania • Rhode Island •
South Carolina • South Dakota • Tennessee •
Texas • Utah • Vermont •
Virginia • Washington • West Virginia •
Wisconsin • Wyoming
| |
| | Elections
| 2022 • 2021 • 2020 •
2019 • 2018 • 2017 •
2016 • 2015 • 2014 •
2013 • 2012 • 2011 •
2010
| |
| | Features
| Chart of state executive officers • Compensation • Gubernatorial power
comparison • How gubernatorial vacancies are filled • Irregular office changes • State executive officials serving in home states • State government trifectas • State of the state addresses •
Term limits
|
v • e Ballotpedia |
|---|
|
| | About
| Overview • What people are saying • Support Ballotpedia •
Contact • Contribute • Job opportunities
| |
| |
| Executive: Leslie Graves, President • Gwen Beattie, Chief Operating Officer • Ken Carbullido, Vice President of Election Product and
Technology Strategy Communications: Alison Graves • Abigail Campbell • Sarah Groat •
Lauren Nemerovski • Caitlin Vanden Boom
External Relations: Alison Prange •
Moira Delaney • Hannah Nelson
Operations: Meghann Olshefski •
Mandy Morris• Kelly Rindfleisch
Policy: Christopher Nelson •
Caitlin Styrsky • Molly Byrne • Katharine Frey •
Jimmy McAllister • Samuel Postell
Research: Josh Altic, Managing Editor
Tech:
Matt Latourelle • Nathan Bingham • Ryan Burch •
Kirsten Corrao • Travis Eden • Tate Kamish •
Margaret Kearney • Joseph Sanchez
Contributors: Scott Rasmussen
| |
| | Editorial
| Geoff Pallay, Editor-in-Chief • Daniel Anderson, Managing Editor • Ryan Byrne, Managing Editor •
Cory Eucalitto, Managing Editor • Mandy Gillip, Managing Editor • Jerrick Adams •
Victoria Antram • Dave Beaudoin • Jaclyn Beran • Marielle Bricker • Kate Carsella • Kelly Coyle • Megan Feeney •
Nicole Fisher • Juan García de Paredes • Sara Horton •
Tyler King • Doug Kronaizl • David Luchs • Roneka
Matheny • Andrew McNair • Jackie Mitchell • Elisabeth Moore •
Ellen Morrissey • Mackenzie Murphy • Samantha Post •
Paul Rader • Ethan Rice • Myj Saintyl •
Maddie Sinclair Johnson • Abbey Smith • Janie Valentine •
Joel Williams • Samuel Wonacott • Mercedes Yanora
|
|
| v • e State of Maryland
Annapolis (capital) |
|---|
| Elections | What's on my ballot? | Elections in 2022 | How
to vote | How to run for office | Ballot measures
|
|---|
| Government | Who represents me? | U.S. President |
U.S. Congress | Federal courts | State executives |
State legislature | State and local courts | Counties |
Cities | School districts | Public policy
|
|---|
What entity is the Maryland Insurance Administration associated with?
The Maryland Insurance Administration is directed by the Maryland Insurance Commissioner who ensures that all insurance laws of the State are faithfully executed, and counsels and advises the Governor on all matters assigned to the Administration.
Who heads the Maryland Insurance Administration?
Commissioner. Kathleen A. Birrane was appointed Maryland Insurance Commissioner by Governor Larry Hogan in May 2020.
What does Maryland Insurance Administration do?
The primary role of the Maryland Insurance Administration (MIA) is to protect consumers from illegal insurance practices by ensuring that insurers and producers that operate in Maryland act in accordance with State insurance laws.
Who regulates health insurance in Maryland?
The Maryland Insurance Administration (MIA) is an independent state agency that regulates Maryland's insurance industry and protects consumers by enforcing insurance laws.
|
