Insurance Administration, Maryland

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The Maryland Insurance Administration (MIA) is an independent state agency that regulates the insurance industry and ensures that insurance companies and health plans act in accordance with laws. It operates an administration division that oversees fiscal services, human resources, physical plant and producer licensing. The agency s examination and auditing unit is responsible for the financial regulation of domestic and foreign insurance companies, including financial analyses and examinations of licensed companies. The Maryland Insurance Administration also maintains a rate and forms review unit that oversees the contracts written by insurers, health maintenance organizations and nonprofit health service plans. It additionally has compliance and enforcement and insurance fraud divisions. The agency is governed by the city of Baltimore in Maryland.