The Maryland Commissioner of Insurance
serves as head of the Maryland Insurance Administration, an independent agency within the state executive branch created in 1993. Prior to that, insurance was a part of the Department of Licensing and Regulation.
The current officeholder is Therese Goldsmith. She was appointed by Gov. Martin O'Malley on June 13, 2011. Her term expires May 31, 2015.
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The Maryland Commissioner of Insurance is appointed by the Governor, with Senate advice and consent, to a four-year term.
The Maryland Insurance Administration has the following responsibilities:
- Protect Maryland consumers by regulating the state's insurance companies and producers.
- Investigate complaints consumers have about their insurance coverage, including, but not limited to, life, health, automobile, and homeowners.
- License insurance companies and producers operating in Maryland.
- Conduct financial examinations of insurance companies to ensure solvency.
- Conduct market conduct examinations to ensure compliance with Maryland's insurance laws.
- Investigate acts of insurance fraud.
- Review and approve rates and contract forms.
The Maryland Insurance Administration is divided into the following divisions:
- Office of the Commissioner
- Commissioner, Deputy Commissioner, Associate Deputy Commissioner
- Public Affairs
- Government Relations
- Producer Licensing
- Fiscal Services
- Human Resources
- Management Information Systems
- Facilities Management
- Compliance & Enforcement
- Consumer Education and Advocacy
- Examination & Auditing
- Insurance Fraud
- Life & Health
- Property & Casualty
- Office of the Attorney General
- Office of the Chief Actuary
- See also: Compensation of state executive officers
In 2012, the commissioner of insurance was paid an estimated $166,082. This figure comes from the Council of State Governments.
In 2010, the Maryland Commissioner of Insurance was paid an estimated $156,060 according to the Council of State Governments.
Maryland Insurance Administration
200 Saint Paul Place, Suite 2700
Baltimore, MD 21202