Insurance - Protections After Loss or Damage to Property

This bill updates Maryland laws to strengthen consumer protections for individuals dealing with public adjusters after property damage or loss. It requires public adjuster contracts to include specific details like the adjuster's license number and a clear description of services, while also establishing a rescission period that allows clients to cancel the agreement within 10 or 7 business days depending on age. The legislation further restricts solicitation by banning public adjusters from contacting clients within 24 hours of a loss or between the hours of 8:00 p.m. and 8:00 a.m., and mandates that adjusters report contracts formed shortly after a loss to the Insurance Commissioner. Additionally, the bill clarifies that it is fraudulent for contractors to pay insureds to cover deductibles and requires public adjusters to return any value received if a contract is rescinded.