A premium finance company, or an insurance producer, if applicable, may not require an insured or prospective insured to purchase or finance add-on coverage, as defined in § 20-504 of this article, as a condition of financing the premium for an insurance contract issued by the Maryland Automobile Insurance Fund.
(a) A premium finance company may not impose any finance charge or other charge on any payment for the purchase price of a motor club service contract. (b) A premium finance company may not cancel an insurance contract if any payment under the premium finance agreement: (1) is sufficient to pay the installment due under the premium finance […]
(a) A person may not pay any part of an initial service fee or any other fee or charge to an insurance producer, employee of an insurance producer, or to any other person as an inducement to financing an insurance contract with a premium financing company. (b) An insurance producer, employee of an insurance producer, or any […]
A premium finance company may not induce an insured to enter into more than one premium finance agreement in order to obtain more than one initial service fee.
Unless otherwise authorized by law, a person may not charge, take, receive from, reserve, or impose on an insured or prospective insured greater charges than those allowed by this title.
The holder of a power of attorney may not cancel an insurance contract because a delinquency and collection charge under § 23-306 of this title has not been paid.
An insurer that markets through independent insurance producers as defined in this article may not: (1) refuse to issue or deny the issuance of a policy because premiums have been advanced by a registered premium finance company not affiliated with the insurer; or (2) require an insured to use a particular premium finance company or other installment […]
(a) An insurer that markets through independent insurance producers as defined in this article may not discriminate, intimidate, or retaliate against an insurance producer or insured that uses premium financing by denying the insurance producer or insured the same rights accorded to insurance producers or insureds who pay premiums in a different manner. (b) With respect to […]
In addition to any other applicable administrative or civil penalty, a premium finance company, insurer, or insurance producer that willfully and knowingly violates any provision of this title is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year or both.
