Maryland is Now Open For Business
Petersen International Underwriters is pleased to announce that as of October 1, 2015, high-limit/excess disability insurance can now be filed in the state of Maryland. We are proud to have played a role in the successful passing of Maryland state legislative bill HB565 which is now in effect. The new law allows for the filing of disability insurance through Surplus Lines in the state of Maryland.
Some time ago, we came to recognize that a severe dilemma needed to be immediately addressed. Millions of Maryland residents have been unable to acquire appropriate levels of income protection insurance through traditional DI carriers. Physicians, attorneys, professional athletes, corporate executives – higher-income earners have been in dire need of high-limit, supplemental disability insurance policies to eradicate the financial disasters brought about by underinsurance.
Alongside local political experts, members of the National Association of Insurance and Financial Advisors, counselors and legislators, Petersen International provided financial, strategic and coaching leadership to assist in the introduction and ultimate passing of bill HB565.
We are very appreciative of the tireless efforts of Tom Petersen throughout this endeavor, and we are very happy to have provided assistance for the greater good of the insurance industry. Please call Petersen International at (800)345-8816 if you have any Maryland clients or prospects that are unable to acquire sufficient disability insurance through the traditional market.
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