When the MIA Comes A’Knocking…
The Maryland Insurance Administration, or the MIA, is charged with regulating the insurance industry in Maryland. Its responsibilities include issuing licenses to insurance professionals, developing policy, and drafting regulations.
The MIA is also charged with investigating alleged violations of Maryland’s laws and regulations governing insurance. As part of this delegated authority, Section 2-206 of Maryland’s Insurance Article grants the MIA the power to “examine the accounts, records, documents, and transactions that relate to the insurance affairs or proposed insurance affairs” of insurance agents, insurance producers, adjusters, public adjusters, and surplus line brokers, among others. Frequently, the MIA will exercise this authority in the form of certain Orders, such as an Order to Produce Documents (similar to a subpoena) or an Order to Respond in writing to a specific inquiry received by the MIA, or perhaps both.
So, what should you do if you receive one of these Orders?
First, do not panic. Just because you receive an Order or a similar request for information from the MIA does not automatically mean that you are in trouble.
Second, do not ignore the Order. It may be the case that the inquiry can be quickly resolved once the MIA has had the opportunity to review the documents or information that it has requested – but that opportunity cannot arise if the Order is disregarded.
Third, cooperate. Whenever possible, be forthright with the MIA about the issue. Candor can often turn an inquiry into a dialogue that may resolve the situation swiftly.
The attorneys at SILVERMAN THOMPSON SLUTKIN WHITE, LLC are experienced in handling matters before the MIA, including responding to Orders like those described above, or defending insurance professionals in more formal hearings and examination. For further information, please contact Ned Parent at email@example.com or at (443) 909-7500.