Code of Maryland Regulations › Title 31 - MARYLAND INSURANCE ADMINISTRATION › Subtitle 06 - TAXES AND FEES › Chapter 31.06.01 - Allocation and Taxation of Premiums › Section 31.06.01.02 - Method

Current through Register Vol. 51, No. 14, July 12, 2024
Beginning with the annual statement for the calendar year 1970, to be filed on or before March 1, 1971, each insurer shall allocate its premiums in accordance with the following:
A. Property and Casualty.
Line of Business
Jurisdiction Charged
Fire
Location of risk
Extended Coverage
Location of risk
Other Allied Lines
Location of risk
Homeowners Multiple Peril
Location of risk
Commercial Multiple Peril
Location of risk
Earthquake
Location of risk
Growing Crops
Location of risk
Wet Marine
Jurisdiction in which contract of insurance is negotiated and placed, except builders' risks to jurisdiction in which risk is located.
Inland Marine
Principal address of policy holder
Group Accident & Health, Including Credit
Groups under 500 employee/member/debtor lives, jurisdiction in which the largest number of lives are located according to the records of the insurer. Groups of 500 or more not all in one jurisdiction, by ratio of lives in each jurisdiction to total lives under policy.
Other Accident & Health
Address to which premium notice is sent
Workmen's Compensation
Location of insured's operation
Liability other than Auto (B.I.)
Location of risk or operation
Liability other than Auto (P.D.)
Location of risk or operation
Auto Liability (B.I.)
Location of principal garage
Auto Liability (P.D.)
Location of principal garage
Auto Physical Damage
Location of principal garage
Aircraft Physical Damage
Location of principal hangar
Fidelity:
Bankers Blanket Bond
Location of employer
Mercantile Blanket Bond
Location of employer
Employees Individual Bonds
Location of employer
Employees Schedule Bonds
Location of employer
U.S. Government Employee Bonds
Location of employer
Public Official Bond
Location of insured
Fraud Bonds
Location of insured
Forgery Bonds
Location of insured
Merchants Protective Bonds
Location of insured
Surety:
Depository Bonds
Location of principal
Judicial Bonds
Location of court
Court Bonds
Location of court
License Bonds
Location of obligee
Construction Bonds
Location of work
Supply Bonds
Location of principal
Public Official
Location of principal's employment
Indemnity & Miscellaneous Bonds
Location of principal
Credit Insurance, Indemnity
Principal office of the insured
Mortgage Guaranty
Location of mortgaged property
Glass
Location of risk
Burglary and Theft
Location of risk
Boiler and Machinery
Location of risk
B. Life.
Classification
Jurisdiction Charged
Ordinary Life, Including Credit
Address to which the premium notice is sent
Industrial Life and Monthly Debit Ordinary
Location of debit(when debit includes two or more jurisdictions, apply ratio of amount in force in each jurisdiction to total debit)
Single Premiums
Address of insured's residence
Group Life, Including Credit
Groups under 500 employee/member/debtor lives, jurisdiction in which the largest number of lives are located according to the records of the insurer.
Groups of 500 or more not all in one jurisdiction, by ratio of lives in each jurisdiction to total lives under policy.
C. Accident and Health.
Classification
Jurisdiction Charged
Individual, Including Credit
Address to which premium notice is sent
Industrial and Monthly Debit
Location of debit (when debit includes two or more jurisdictions, apply ratio of amounts in force in each jurisdiction to total debit)
Group, Including Credit
Groups under 500 employee/member/debtor lives, jurisdiction in which the largest number of lives are located according to the records of the insurer.
Groups of 500 or more not all in one jurisdiction, by ratio of lives in each jurisdiction to total lives under policy.
D. Annuity Allocations. Insofar as annuity considerations are taxable, they shall be allocated by the same method as that adopted for life insurance premiums.
E. Title Allocations. Title insurance premiums are to be allocated to location of risk.
F. Federal Areas Allocations. Business done at Army, Navy, or Air Force bases, and other similar federal installations, shall be allocated to the jurisdiction of the insured's residence, as listed on the application.