Maryland Insurance Administration Commissioner Wins Premium Finance Case

Summary

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The Maryland Insurance Administration's authority over premium financing companies got a boost Tuesday from the state's highest court, which found the commissioner has implied power to issue cease- and-desist orders against companies that charge too much interest on Maryland Automobile Insurance Fund policies.

The Court of Appeals also rejected the companies' claims that their challenge to a 2008 cease-and-desist order should have been transferred to the Office of Administrative Hearings rather than decided by a deputy insurance commissioner.

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Maryland Insurance Administration Commissioner Wins Premium Finance Case

Both the Baltimore City Circuit Court and the Court of Special Appeals had said the use of a deputy commissioner...

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