#CommunityRating

@citizenptnewsmd.bsky.social

1 month ago

Regulator: Maryland Auto Fund underfunded; agency ordered to phase out ZIP-code affordability cap At a Jan. 22 Finance Committee briefing, Maryland Auto officials and the Maryland Insurance Administration said the state’s residual auto insurer remains financially strained, prompting assessments and a regulator order to phase out its ZIP-code-based affordability cap by Dec. 31, 2027. Lawmakers pressed for faster study of ZIP-code effects on Black and Brown communities.

Maryland's Auto Insurance Fund is facing a financial crisis and a controversial phase-out of its ZIP-code affordability cap, raising concerns about fairness in auto premiums for Black and Brown residents.

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#MD #EquityInPolicy #InsuranceAffordability #CommunityRating

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