Maryland Annuity Information
Maryland Insurance Administration
The Maryland Insurance Administration's goal is to provide efficient, effective service to both the consumers of insurance products and the insurance industry. The Maryland Insurance Administration best serves its core constituents by assuring fair treatment of consumers. This consumer protection begins by regulating the availability of insurance coverage at fair prices and extends to issues of solvency and fair sales, claims and settlement practices.
The agency strives to increase public understanding of the vital role insurance plays in the daily lives of Maryland residents and businesses. Insurance is the principal means of managing risks. While it is not possible to eliminate risks arising from poor health, auto accidents, home damage and other unexpected occurrences, you may minimize its impact by purchasing appropriate insurance coverage.
Alfred W. Redmer Jr. was appointed Maryland Insurance Commissioner by Governor Lawrence J. Hogan Jr. in January 2015. His term ends May 30, 2019. He previously served as Commissioner from June 2003 until October 2005. A respected businessman and former member of the Maryland General Assembly, Commissioner Redmer most recently managed Redmer Insurance Group, LLC, and owned Redmer Financial Group. His business experience includes time as partner and president of Landmark Insurance & Financial Group and as chief executive officer of Coventry Health Care of Delaware Inc.
Commissioner Redmer also represents the state's interests as an active member of the National Association of Insurance Commissioners (NAIC). Redmer currently serves on the NAIC's Executive Committee and as the NAIC Northeast Zone's Vice Chair. He also sits on the NAIC's Government Relations Leadership Council, Cybersecurity and Senior Issues Task Forces and the Market Regulation and Consumer Affairs, Financial Regulation Standards and Accreditation, Consumer Liaison and State Government Liaison Committees.
Ensuring that consumers are protected from illegal insurance practices is the primary responsibility of the Maryland Insurance Administration. It ensures that all insurance companies that sell products within the state of Maryland are operating in accordance with established state law. The Glossary of Insurance Terms is available for consumers looking to make sense of insurance and annuity terms as they are used in their policies. The Maryland Insurance Administration is located at 200 St. Paul Place, Suite 2700, Baltimore, MD 21202. The Administration can be reached at (410) 468-2000.
|State Commissioner:||Alfred W. Redmer Jr.|
|Insurance Hotline:||(410) 468-2090|
|Annuity Guarantee Limit:||$100,000|
|Links:||Consumer Guide to Annuities|
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