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Maryland Automobile Insurance Fund

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NEWS
September 12, 2013
As executive director of the Maryland Automobile Insurance Fund, I applaud The Sun's editorial, "Relief for Baltimore drivers" (Sept. 3) and share the concerns it raised about the cost of automobile insurance in Baltimore City. Many city drivers struggle to meet their insurance payments. The General Assembly, recognizing this, recently allowed MAIF to begin collecting installment payments, which as your editorial noted, lowers the real cost of a policy by over $250 for the average MAIF insured.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | June 9, 2014
Two companies announced plans Monday to relocate to Baltimore from the suburbs, bringing more than 300 jobs to downtown and Locust Point. The Maryland Automobile Insurance Fund will move its headquarters from Annapolis to the expanding McHenry Row mixed-use project in Locust Point by fall 2015, bringing its 240-person workforce. And Kao USA Inc., a unit of a Japanese beauty products company, will move from Hanover to offices at One Charles Center, with 70 workers. MAIF, a state-created entity that insures drivers who can't get private-market coverage, will lease two floors to be built atop the Phillips Seafood headquarters building on Fort Avenue.
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NEWS
By Laura Smitherman and Laura Smitherman,laura.smitherman@baltsun.com | November 13, 2009
Top managers and employees at the Maryland Automobile Insurance Fund were having a tough time financially and were in jeopardy of not qualifying for bonuses last year. So the board that oversees the independent state agency changed the bonus plan so that the employees would qualify. Bonuses to more than 400 workers totaled $1.4 million, most of which would not have been paid out without those changes. According to a critical state legislative audit released Thursday, the insurance fund bonuses were paid despite the agency's $19.6 million loss that year and the financial strain on the state that has laid off hundreds of employees and subjected the entire work force to furloughs.
NEWS
September 12, 2013
As executive director of the Maryland Automobile Insurance Fund, I applaud The Sun's editorial, "Relief for Baltimore drivers" (Sept. 3) and share the concerns it raised about the cost of automobile insurance in Baltimore City. Many city drivers struggle to meet their insurance payments. The General Assembly, recognizing this, recently allowed MAIF to begin collecting installment payments, which as your editorial noted, lowers the real cost of a policy by over $250 for the average MAIF insured.
NEWS
By Laura Smitherman | laura.smitherman@baltsun.com | November 13, 2009
Top managers and employees at the Maryland Automobile Insurance Fund were having a tough time financially and were in jeopardy of not qualifying for bonuses last year. So the board that oversees the independent state agency changed the bonus plan so that the employees would qualify. Bonuses to more than 400 workers totaled $1.4 million, most of which would not have been paid out without those changes. According to a critical state legislative audit released Thursday, the insurance fund bonuses were paid despite the agency's $19.6 million loss that year and the financial strain on the state that has laid off hundreds of employees and subjected the entire work force to furloughs.
NEWS
March 22, 2010
Maryland lawmakers have been adamant about not raising taxes this year, particularly in a weak economy and with a restless electorate heading to the polls this fall. But legislation moving forward in Annapolis could prove as costly to motorists as any proposed tax or fee, and it appears elected officials are hoping no one will notice. The proposal would raise the minimum amount of automobile liability insurance for bodily harm from $20,000 to $30,000 for an individual and from $40,000 to $60,000 for incidents where more than one person is injured.
NEWS
By M. Kent Krabbe | November 11, 2009
T he health care reform bill passed by the House of Representatives last weekend ensures that the public option debate is far from over. Today's reasoned discussions thankfully replaced a summer show of angry health care forum re-runs with a fresh reality series featuring intelligent debate on serious policy issues. Framing and advancing this discussion, President Barack Obama recently noted that we should require everyone to have health insurance "just as most states require you to carry auto insurance."
NEWS
By Baltimore Sun reporter | April 28, 2010
With the state still suffering from the effects of a national economic recession and average Marylanders still struggling to make ends meet, Gov. Martin O'Malley ought to be absolutely certain that legislation approved by the General Assembly this year doesn't make matters worse for no good reason. Put at the top of that list the controversial plan to force Maryland drivers to buy more liability insurance. Currently, the minimum is $20,000 to compensate for the injury to one person injured or killed in an accident and $40,000 for more than one. The measure approved by the state legislature would raise those minimums to $30,000 and $60,000.
NEWS
November 18, 2009
If there are two groups of people held in disregard these days, it's anyone who works for an insurance company or the government. That makes those employed by the Maryland Automobile Insurance Fund, the state's quasi-public auto insurer of last resort, something of a twofer in the public's eye. One can only imagine the reaction of people when the term "bonus" is tossed in there, too. But that's what happened recently when state legislative auditors...
NEWS
March 25, 2010
In 1972, Maryland established minimum auto insurance requirements of $20,000 per person and $40,000 per incident so people injured by negligent drivers could pay their medical bills and receive lost wages. At that time, the average income was $11,800, the average cost of a doctor's visit was $5, hospitals charged $350 for delivery of a baby, the average cost of a new car was $3,853, the average new home cost was $27,550, the average rent was $147 per month, and a gallon of gasoline cost only 50 cents.
NEWS
February 18, 2013
Drivers who buy their car insurance through the Maryland Automobile Insurance Fund, the state's auto insurer of last resort, seem always to be the door mats of the State House, but that comparison might be too generous. Rugs get a little respect every once in a while. For years, we have groused that MAIF customers — and there are about 36,000 of them on any given day — are legally fleeced by premium finance companies. Under state law, MAIF must collect insurance premiums in advance, but since most customers don't have the money for a year's worth of coverage (on average, at a cost of about $1,800)
NEWS
By Baltimore Sun reporter | April 28, 2010
With the state still suffering from the effects of a national economic recession and average Marylanders still struggling to make ends meet, Gov. Martin O'Malley ought to be absolutely certain that legislation approved by the General Assembly this year doesn't make matters worse for no good reason. Put at the top of that list the controversial plan to force Maryland drivers to buy more liability insurance. Currently, the minimum is $20,000 to compensate for the injury to one person injured or killed in an accident and $40,000 for more than one. The measure approved by the state legislature would raise those minimums to $30,000 and $60,000.
NEWS
March 25, 2010
In 1972, Maryland established minimum auto insurance requirements of $20,000 per person and $40,000 per incident so people injured by negligent drivers could pay their medical bills and receive lost wages. At that time, the average income was $11,800, the average cost of a doctor's visit was $5, hospitals charged $350 for delivery of a baby, the average cost of a new car was $3,853, the average new home cost was $27,550, the average rent was $147 per month, and a gallon of gasoline cost only 50 cents.
NEWS
March 22, 2010
M aryland lawmakers have been adamant about not raising taxes this year, particularly in a weak economy and with a restless electorate heading to the polls this fall. But legislation moving forward in Annapolis could prove as costly to motorists as any proposed tax or fee, and it appears elected officials are hoping no one will notice. The proposal would raise the minimum amount of automobile liability insurance for bodily harm from $20,000 to $30,000 for an individual and from $40,000 to $60,000 for incidents where more than one person is injured.
NEWS
November 18, 2009
If there are two groups of people held in disregard these days, it's anyone who works for an insurance company or the government. That makes those employed by the Maryland Automobile Insurance Fund, the state's quasi-public auto insurer of last resort, something of a twofer in the public's eye. One can only imagine the reaction of people when the term "bonus" is tossed in there, too. But that's what happened recently when state legislative auditors...
NEWS
By Laura Smitherman and Laura Smitherman,laura.smitherman@baltsun.com | November 13, 2009
Top managers and employees at the Maryland Automobile Insurance Fund were having a tough time financially and were in jeopardy of not qualifying for bonuses last year. So the board that oversees the independent state agency changed the bonus plan so that the employees would qualify. Bonuses to more than 400 workers totaled $1.4 million, most of which would not have been paid out without those changes. According to a critical state legislative audit released Thursday, the insurance fund bonuses were paid despite the agency's $19.6 million loss that year and the financial strain on the state that has laid off hundreds of employees and subjected the entire work force to furloughs.
NEWS
February 18, 2013
Drivers who buy their car insurance through the Maryland Automobile Insurance Fund, the state's auto insurer of last resort, seem always to be the door mats of the State House, but that comparison might be too generous. Rugs get a little respect every once in a while. For years, we have groused that MAIF customers — and there are about 36,000 of them on any given day — are legally fleeced by premium finance companies. Under state law, MAIF must collect insurance premiums in advance, but since most customers don't have the money for a year's worth of coverage (on average, at a cost of about $1,800)
NEWS
By Laura Smitherman | laura.smitherman@baltsun.com | November 13, 2009
Top managers and employees at the Maryland Automobile Insurance Fund were having a tough time financially and were in jeopardy of not qualifying for bonuses last year. So the board that oversees the independent state agency changed the bonus plan so that the employees would qualify. Bonuses to more than 400 workers totaled $1.4 million, most of which would not have been paid out without those changes. According to a critical state legislative audit released Thursday, the insurance fund bonuses were paid despite the agency's $19.6 million loss that year and the financial strain on the state that has laid off hundreds of employees and subjected the entire work force to furloughs.
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