MD SB893

Requires the Maryland Insurance Commissioner to examine high-risk insurers at least once every 3 years (compared to every 5 years for average- and low-risk insurers) and establishes a risk-based methodology for scheduling financial and market conduct examinations

Mandates additional market conduct examinations for homeowner's insurers after hurricanes if they are among the top 20% in claim-related complaints, claims closed without payment, or significant payments to managing general agents

Requires homeowner's insurers to create and use claims-handling manuals meeting state law and industry standards, submit them to the Commissioner on request within 5 business days, and certify annual compliance

Prohibits insurers from canceling or refusing to renew homeowner's policies for 90 days after hurricane-damaged property is repaired, or until 1 year after final claim payment for other covered perils

Makes it an unfair claim settlement practice to alter an insurance adjuster's report without providing a detailed explanation for changes that reduce the loss estimate and documenting all changes and who ordered them