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Maryland Bulletin 24-9

On March 26, 2024, a major section of the Francis Scott Key Bridge (“Key Bridge”) collapsed into the Patapsco River after the Dali, a 984–foot container ship, collided with one of the bridge’s primary support pillars. The collapse of the Key Bridge was a catastrophic event that resulted in a tragic loss of life and severe economic implications for the entire region and nation due to reduced operations of the Port of Baltimore. It is critical to ensure that the individuals and businesses that are economically impacted by the reduced operations of the Port of Baltimore are supported at this vital juncture.

In light of the current difficult circumstances, the Insurance Administration is encouraging all carriers doing business in the state to make reasonable accommodations so that individuals and businesses impacted by the reduced operations of the Port of Baltimore do not lose coverage due to non-payment of premium. Reasonable accommodations may include suspension of premiums due, extension of billing due dates and premium grace periods, and waiver of installment and late payment fees.

In addition:

The MIA requests that carriers that agree to provide accommodations notify the Insurance Administration of those accommodations and how the carrier will make policyholders aware of those accommodations.
The Maryland Insurance Administration will:
- Provide space on the Insurance Administration website to inform and educate policyholders about these accommodations and how to access them.
- Send out a consumer alert regarding the accommodations.
- Identify every carrier that provides the accommodations (and how to access them) to government agencies and every elected official in the state through our constituency newsletter/alert.