Insurance - Enforcement, Impaired Entities, Homeowner's Insurance Policies, and Unfair Claim Settlement Practices - Revisions

SB 893 updates Maryland's insurance laws to improve how insurers handle claims, particularly for homeowners. It requires insurers to assign a licensed adjuster to investigate claims, communicate honestly with policyholders, and retain all claim-related communications for at least two years. The bill prohibits insurers from canceling or refusing to renew homeowner policies without valid reasons and bans altering adjuster reports without proper documentation. Insurers found to repeatedly violate these rules face enhanced enforcement penalties from the Maryland Insurance Commissioner.