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SB 530

Enacted
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Insurance – Maryland Automobile Insurance Fund – Assessments

Sponsor: Senator KlausmeierCommittee: FinanceSubject: Insurance - Other than HealthStatus: Approved by the Governor - Chapter 535 (as of Nov 9, 2023)

What this bill does

Official synopsis

Altering the formula for the calculation of certain assessments by the Maryland Automobile Insurance Fund; requiring the Board of Trustees of the Fund, under certain circumstances, to authorize the Fund to withdraw certain amounts from the money held by the Fund from a prior overassessment; prohibiting members of the Industry Automobile Insurance Association from being subject to an annual assessment under certain circumstances; requiring in a certain fiscal year that additional funds be allocated to the Fund; etc.

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Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.

Testimony (14)

MGA witness list
FAV 5FavorableFWA 9Favorable with amendments
PositionWitnessOrganizationTestimony
FAVPieffer, DavidMaryland Auto Insurance FundOral
FAVRedmer, Jr., AlMaryland Auto Insurance FundOral + Written (PDF)
FAVCarroll, DennisMaryland Automobile Insurance FundOral
FAVDodson, SandraIndividualOral + Written (PDF)
FAVSenator Klausmeier, Senator KlausmeierlegislatorIndividualOral
FWAPopham, BrysonlobbyistBryson F. Popham, P.A.Oral
FWASmith, Sarah JoanlobbyistBryson F. Popham, P.A.Written (PDF)
FWAEnten, RobertMd Bankers AssocOral
FWAOverturf, MattlobbyistNAMICWritten (PDF)
FWAKlausmeier, KatherineSenator Katherine KlausmeierOral + Written (PDF)
FWAEgan, NancylobbyistIndividualOral
FWAKarkhanis, NeallobbyistIndividualOral
FWALininger, BrettlobbyistIndividualOral
FWAStern, IsadoralobbyistIndividualOral + Written (PDF)

Organizations on record

Registered lobbyists who testified

FWAPopham, BrysonBryson F. Popham, P.A.Registered for: Agency Insurance Company of Maryland; Agency Services, Inc.; Army Alliance; Bryson F. Popham P.A.; Building Owners and Managers Association of Greater Baltimore (BOMA); CVS Health
FWASmith, Sarah JoanBryson F. Popham, P.A.Registered for: Bryson F. Popham P.A.; Building Owners and Managers Association of Greater Baltimore (BOMA); Insurance Agents and Brokers of Maryland (IAB); Maryland Association of Mutual Insurance Companies (MAMIC); Maryland Defense Research Coalition (MDR-C); National Association of Benefits Insurance Professionals (NABIP MD)
FWAOverturf, MattNAMICRegistered for: National Association of Mutual Insurance Companies (NAMIC)
FWAEgan, NancyRegistered for: American Property Casualty Insurance Association
FWAKarkhanis, NealRegistered for: American Council of Life Insurers; Tobacco-Free Kids Action Fund; City of Westminster; League of Life & Health Insurers of Maryland, Inc.; It Works Learning Center, Inc.; America's Health Insurance Plans
FWALininger, BrettRegistered for: Aflac (American Family Life Assurance Company); Amazon.com Services, LLC; American International Group; Boyd Gaming Corporation; Brookfield Power US Asset Management LLC; Centers for Better Insurance, LLC
FWAStern, IsadoraRegistered for: Maryland Consumer Rights Coalition