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Committee advances Maryland Automobile Insurance Fund changes, amid debate about possible large assessments
Summary
The Economic Matters Committee approved House Bill 1098 as amended, directing the Maryland Automobile Insurance Fund to report risk‑based capital metrics and commissioning a study on auto‑insurance affordability.
The Economic Matters Committee approved House Bill 1098 as amended, directing the Maryland Automobile Insurance Fund to calculate and report its risk‑based capital, maintain surplus reserves, and giving the Maryland Insurance Administration (MIA) a directive to study private passenger auto insurance affordability.
Amendments added a representative of private passenger automobile…
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