{"id":368,"date":"2011-09-02T15:43:36","date_gmt":"2011-09-02T15:43:36","guid":{"rendered":"http:\/\/news.maryland.gov\/mema\/?p=368"},"modified":"2011-09-02T15:43:36","modified_gmt":"2011-09-02T15:43:36","slug":"maryland-insurance-commissioner-clarifies-insurance-companies-utilization-of-percentage-deductibles-for-homeowners-in-areas-affected-by-hurricane-irene","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/mdem\/2011\/09\/02\/maryland-insurance-commissioner-clarifies-insurance-companies-utilization-of-percentage-deductibles-for-homeowners-in-areas-affected-by-hurricane-irene\/","title":{"rendered":"MARYLAND INSURANCE COMMISSIONER CLARIFIES INSURANCE COMPANIES\u2019 UTILIZATION OF PERCENTAGE DEDUCTIBLES FOR HOMEOWNERS IN AREAS AFFECTED BY HURRICANE IRENE"},"content":{"rendered":"<p><strong>Baltimore, MD<\/strong>\u00a0 Maryland Insurance Commissioner Therese M. Goldsmith today issued Maryland Insurance Administration Bulletin 11-25 to remind property insurers that Maryland law provides that \u201churricane deductibles\u201d pay be imposed only in limited circumstances.\u00a0 To lawfully impose a percentage deductible for hurricane damage, the insured\u2019s home must be located in a part of Maryland that was subject to a hurricane warning.<\/p>\n<p>For Hurricane Irene, the National Hurricane Center of the National Weather Service has confirmed today that only the following Maryland counties were under hurricane warnings: Caroline, Dorchester, Somerset, St. Mary\u2019s, Talbot, and Wicomico (expiring at 5 a.m. Sunday, August 28, 2011); and Worcester (including Ocean City) (expiring at 11 a.m. Sunday, August 28, 2011).<\/p>\n<p>Section 19-209 of the Insurance Article of the Annotated Code of Maryland allows insurers to charge a deductible based on a percentage of the policy\u2019s \u201cCoverage A\u2014Dwelling Limit.\u201d\u00a0 However, \u00a7 19-209(b) limits the applicability of a percentage deductible to properties located in part of the State for which the National Hurricane Center of the National Weather Service issued a hurricane warning.\u00a0 If an insured\u2019s home is not located in a part of the State that was subject to such a hurricane warning then a percentage deductible may not be imposed.\u00a0 The law also provides that a percentage deductible only can be applied to a loss or damage that takes place while the hurricane warning is in effect and until twenty-four (24) hours after the termination of the last hurricane warning issued for the part of the State in which the insured\u2019s home is located.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Baltimore, MD\u00a0 Maryland Insurance Commissioner Therese M. Goldsmith today issued Maryland Insurance Administration Bulletin 11-25 to remind property insurers that Maryland law provides that \u201churricane deductibles\u201d pay be imposed only in limited circumstances.\u00a0 To lawfully impose a percentage deductible for hurricane damage, the insured\u2019s home must be located in a part of Maryland that was<a href=\"https:\/\/news.maryland.gov\/mdem\/2011\/09\/02\/maryland-insurance-commissioner-clarifies-insurance-companies-utilization-of-percentage-deductibles-for-homeowners-in-areas-affected-by-hurricane-irene\/\">&nbsp;&nbsp;Read the Rest&#8230;<\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[1],"tags":[140,143,149],"class_list":["post-368","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-homeowners","tag-hurricane","tag-insurance"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/posts\/368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/comments?post=368"}],"version-history":[{"count":0,"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/posts\/368\/revisions"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/media?parent=368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/categories?post=368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/mdem\/wp-json\/wp\/v2\/tags?post=368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}