MD HB816

Amends the statutory purpose of the Maryland Automobile Insurance Fund (MAIF) to specify that financial security must be provided at affordable rates to eligible persons unable to obtain insurance from private insurers.

Authorizes the Executive Director of MAIF to establish an affordability program that may otherwise be considered inconsistent with standard rate-setting requirements under Title 11, Subtitles 2 and 3 of the Insurance Article.

Retains the Executive Director's existing authority to base premiums on an insured's accumulated driving points and/or prior claims experience.

Requires the Insurance Commissioner, when reviewing rates filed by the Fund, to consider both standard rating principles and the Fund's statutory purpose of affordability.

Effective October 1, 2026.