When a Maryland insurer changes rates for the largest corporation in the state, which statements could apply?

• A. Rates must be filed with the Department
• B. Rates may be changed without notice
• C. The department may require public notice
• D. Any of the above can be true

Answer: (D)

Rate changes in Maryland are subject to regulatory oversight by the Department. Rates typically must be filed with the Department for review and approval before they become effective, ensuring they’re justified and not unfairly discriminatory. The Department can also require public notice of proposed rate changes so policyholders and the market are informed. In some situations, such as when the regulator allows immediate implementation or in emergencies, a rate change may take effect without separate advance notice. Because these different pathways exist, any of these outcomes could occur, making the option that any of the above statements could be true the best choice.