Maryland insurance commissioner tells Judiciary Committee rising costs, residual-market strains threaten auto and homeowners coverage

Maryland Insurance Commissioner Marie Grant told the House Judiciary Committee on Jan. 27 that the state’s property-and-casualty markets are under pressure from rising loss costs, shifting underwriting practices and the lingering effects of the pandemic, and she outlined regulatory steps the Maryland Insurance Administration (MIA) is taking to monitor affordability and market stability.

Grant said MIA regulates roughly a $50 billion industry in Maryland with fewer than 300 employees and that the agency is self-funded through industry assessments. She noted premium-tax collections contributed to the general fund were “close to $800,000,000” in fiscal year 2025.

Grant described how MIA oversees solvency, reviews policy forms and rate filings to ensure they are not “inadequate, excessive, or unfairly discriminatory,” and investigates consumer complaints and fraud. On homeowners insurance, she reviewed typical coverages and exclusions and said Maryland’s residual homeowners…