Senators are working this week on legislation to clamp down on practices at the Maryland Automobile Insurance Fund including high bonuses and spending on marketing and consultants.
Senate Finance Chairman Mac Middleton will convene a workgroup this week to hash out the legislation, backed by a majority of his committee.
Read MoreOfficials with the Maryland Automobile Insurance Fund defended their spending and staff bonuses to legislators on the joint audit committee Monday.
In a December report, state auditors were highly critical of $1.4 million in bonuses paid out to management and staff at the quasi-public agency for motorists who can’t get coverage anywhere else in 2008. That year, the insurer lost $20 million.
The audit also criticized MAIF spending $250,000 on consultants, marketing and lobbying, as well as on a $15,000 “appreciation” dinner for agents who refer clients.
Read More
Recent Comments