MD Regulator OKs Mold Exclusion
Tuesday, July 8th, 2003 Legislation & Regulation PropertyMaryland‘s decision to rescind an earlier ruling by the previous insurance commissioner and allow insurers to exclude mold coverage was applauded by an insurance trade association. "By allowing insurers to offer a variety of coverage at a range of prices, consumers will be allowed to choose the coverage they need at a price they can afford," said Neil Malady, manager at the Downers Grove, Ill.-based Alliance of American Insurers. "The Alliance welcomes the insurance administration‘s new, more flexible stance on mold coverage." The decision was announced late last month by the state‘s new insurance Commissioner Alfred W. Redmer Jr., which rescinds an earlier, March ruling by Mr. Redmer‘s predecessor Steven Larsen.
External References & Further Reading
http://www.nationalunderwriter.com/pandc/hotnews/viewPC.asp?article=7_8_03_15_9571.xml&src=5
