Insurance companies seeking to assume the insurance risks of insurers domiciled in Maryland must apply to become eligible under Sections 2-112, 5-906 and 6-203 of the Insurance Article, Annotated Code of Maryland, and Subtitle 5 of Title 31 of the Code of Maryland Regulations (31.05.08.05). For initial eligibility, companies are required to submit the following:
An Accredited Reinsurer wishing to renew its eligibility can now apply online, provided that the company’s financial statements are filed with the NAIC. The authorization should be renewed between May 1 and June 30 in accordance with Subtitle 5 of Title 31 of the Code of Maryland Regulations. Companies that are authorized as accredited reinsurers AND surplus lines insurers will not be able to renew on-line.
The renewal process can be completed online without attaching any other paperwork. You will be required to pay the renewal fee totaling $2,000 using a Visa, Mastercard, or eCheck. There is no extra charge for renewing online. If you renew by credit card, the charge on your statement will be shown as “Maryland Insurance Administration”.
How to Renew Your Certificate of Authority Online
You will enter your MIA User ID and password that were previously provided to you. Each company is associated with a unique UserID/Password combination. The system will not allow you to renew more than one company using the same UserID/Password combination.
If you are unable to renew online, please submit the following:
*If your company is approved as an accredited reinsurer and a surplus lines insurer, total payment due is $3,000.
Minimum financial requirement is policyholders’ surplus totaling $20,000,000.
Filings and fees must be received on or before June 30 for annual renewals.
If you have any questions, contact:Maryland Insurance AdministrationCompany Licensing UnitPhone: 410-468-2104Fax: 410-468-2112
Email: firstname.lastname@example.orgDocuments and fees should be submitted to:
Maryland Insurance AdministrationCompany Licensing Unit200 St. Paul Place, Suite 2700Baltimore, MD 21202
200 St. Paul Place, Suite 2700, Baltimore, MD 21202
410-468-2000 | 1-800-492-6116 (toll free) | 1-800-735-2258 (TTY)