1215 East Fort Ave., Baltimore, Maryland, August 2015. Photo by Diane F. Evartt.
To register a motor vehicle in Maryland, every owner must maintain basic primary coverage of $20,000/ $40,000 bodily injury, $15,000 property damage, and $2,500 economic loss coverage. Such compulsory insurance reduces substantially the number of uninsured claims. Nonetheless, uninsured claims continue due to hit-and-run accidents, out-of-state uninsured drivers, and Marylanders who do not comply with the law.
The Fund receives no General Funds from the State, nor are its assets part of the State Treasury. Current Fund assets derive from insurance premiums; earnings from investments; assessments (when required) levied against all automobile insurers; and funds recovered from uninsured motorists. The Fund also receives a portion of the penalties imposed by the Motor Vehicle Administration against uninsured motorists (Code Transportation Article, secs. 17-101 through 17-110; Insurance Article, secs. 20-101 through 20-701).
Members are Appointed by the Governor with the advice and consent of the Senate to five-year terms, the Board of Trustees consists of nine members, three of which shall have insurance industry experience and two of which should have financial management experience (Chapters 73 & 74, Acts of 2013; Code Insurance Article, sec. 20-202).
The Committee monitors and reviews the communications and outreach efforts of the Maryland Automobile Insurance Fund to promote and fulfill the Fund’s mission.
Appointed by the Board Chair, the Committee has three members.
FINANCIAL MANAGEMENT COMMITTEE
The Committee consists of the Executive Director, who serves as chair, and two members of the Board of Trustees chosen by the Board.
The Financial Management Committee manages and invests all monies collected by or for the Maryland Automobile Insurance Fund (Code Insurance Article, sec. 20-303).
COMMUNICATIONS & CORPORATE RELATIONS DEPARTMENT
The Department conducts outreach to Insurance Producers, Community Organizations, and other stakeholders.
FISCAL DEPARTMENT
Under the Department are three units: Finance and Budget, Uninsured Accounting and Collections, and Producer Accounting.
CLAIMS DEPARTMENT
Six units fall under the Department: Casualty, Insured Subrogation, Material Damage, Personal Injury Protection and Uninsured, Property Damage, and Special Investigations.
INFORMATION TECHNOLOGY DEPARTMENT
UNDERWRITING & PRODUCT MANAGEMENT DEPARTMENT
The Department manages the Private Passenger and Commercial Underwriting insurance policies written by the Fund.
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Started in 2014 as the Marketing and Communications Department, the Communications and Corporate Relations Department assumed its current name in 2019.
All financial aspects of the Maryland Automobile Insurance Fund are managed by the Fiscal Department.
OPERATIONS
Operations directs three departments: Claims, Information Technology, and Underwriting and Product Management.
The Claims Department investigates and adjudicates claims presented to the Maryland Auto Insurance Fund by policyholders, claimants, and other insurance carriers.
Under the Information Technology Department are five units: Application Programming, Business Architecture, Computer Operations and Technical Support, the Computer Support Center, and Network Systems.
In 2014, the Underwriting and Product Management Department formed from the Underwriting Department.
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