§ 11-206-Insurance Rating Law
Commercial Exempt Policyholder

   (j)  Exempt commercial policyholders.  – (1) In this subsection, “exempt commercial policyholder” means a person that:

               (i)  pays annual aggregate property and casualty premiums for commercial insurance policies issued in the State during the current or preceding calendar year of $25,000 or more; and

               (ii) meets any two of the following criteria:

1.        generates annual revenues or sales in excess of $10,000,000;

2.        possesses a net worth in excess of $5,000,000;

3.        employs at lease 25 full time employees;

4.        is a nonprofit organization or public body with an annual budget of at least $10,000,000;

or

5.        is a municipal corporation with a population of at least 15,000.

       (2)  The filing requirements of this section do not apply to policy forms and endorsements and to modifications of policy forms and endorsements issued to an exempt commercial policyholder.

       (3)    (i)   An exempt commercial policyholder must certify in writing, on a form approved by the

Commissioner that it meets the criteria necessary for exemption from form filing requirements.

                (ii)  The certification must include:

                        1. specific reference to the optional criteria that the insured has satisfied to qualify as an exempt commercial policyholder;

                        2.  information required by the Commissioner for the purpose of determining the  annual aggregate premiums of the insured for the purposes of paragraph (1)(I) of this subsection; and

3.        an acknowledgment by the insured that the policy form, endorsement, or modification intended for use has not been filed with the Commissioner.

(4)     This subsection does not apply to the filing of workers’ compensation insurance policy forms.

(5)     The Commissioner may required, by regulation, that insurers provide information to the

Administration on the number and types of policies written for exempt commercial policyholders under this subsection.

         (6)  On written request of the Commissioner, an insurer shall file with the Commissioner a form or endorsement issued to an exempt commercial policyholder.

         (7)  Except for the exemption from form filing requirements under this section, a form or endorsement issued to an exempt commercial policyholder is subject to all applicable provisions of this  article.  (An. Code 1957, art. 48A, § 242; 1997, ch.35 § 2; 2000 ch.541; 2006, ch.564.)