Viatical Settlement Brokers and Providers
Pursuant to Chapter 275 of the acts of 2004 of the General Assembly of Maryland, Viatical Settlement Brokers and Providers must register with Maryland Insurance Administration.
Licensing and Registration
- Information and Procedures for Registering
- Viatical Settlement Uniform License Application
Viatical Settlement Brokers and Providers may apply online or utilize paper forms accessed through the National Insurance Producer Registry (NIPR).
- Verification of Coverage for Life Policies Form
- Maryland Supplement - Limited Lines Licenses and Registrations
Section 27-804 of the Maryland Insurance Article requires all Viatical Settlement Providers (VSP) to maintain and file with the Commissioner “an antifraud plan reasonably calculated to detect, prosecute, and prevent fraudulent viatical settlement acts.”
Within 30 days of instituting or modifying such a plan, the VSP shall notify the Commissioner in writing and provide a copy thereof to the Insurance Fraud Division of the Maryland Insurance Administration. Such plans filed with MIA shall be privileged and confidential, and not deemed a public record.
For details as to what such a plan shall include, see the statutory provision.
The contact person in the Insurance Fraud Division is:
Maryland Insurance Administration
Insurance Fraud Division
200 St. Paul Place, Suite 2700
Baltimore, Maryland 21202