What Directors and Officers (D&O) Insurance Requirements Apply in Maryland?

What Is D&O Insurance?

D&O insurance can help pay covered defense costs and losses from claims against company leaders over management decisions. If your organization has a board or executives, check whether the company itself is insured and whether legal bills reduce the limit. Read the national Directors and officers guide.

What Should You Watch for With D&O Insurance in Maryland?

• Read the Charter for Added or Limited Liability

  Maryland permits charter provisions that expand or limit director and officer monetary liability to the corporation or stockholders, but not for an improper benefit, material active and deliberate dishonesty, or specified proceedings involving financial institutions. Compare the actual charter clause with the policy’s insured-person and claim definitions. ¹

• Derivative Indemnity Has an Adverse-Judgment Bar

  A corporation may not indemnify a director for a proceeding by or in the right of the corporation after the director is adjudged liable to it, subject to the statute’s court-ordered expense remedy. Ask whether the policy advances defense costs while the claim and indemnity decision are pending. ²

• Derivative Payments Must Be Reported to Stockholders

  Maryland requires written reporting of indemnification or expense advances arising from a proceeding by or in the right of the corporation with the next stockholders’ meeting notice or before the meeting. Confirm which officers handle that report and keep a record of amounts paid. ²

Which D&O Insurance Providers Have Documented Maryland Licenses?

These providers publish a national listing for Directors and officers; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Maryland. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

• Coalition

  Coalition Insurance Solutions, Inc.

  Insurance producer, Surplus-lines broker · checked 2026-09-28

  Coalition’s license page lists producer and surplus-lines licenses for Coalition Insurance Solutions, Inc. in all 50 states and the District of Columbia. The page separately lists insurers; this record covers the brokerage entity only. ⁹

  Coalition offers directors and officers liability through its executive-risks product for private and nonprofit US organizations.

• Corgi

  Corgi Insurance Services, Inc.

  Insurance producer · checked 2026-09-28

  Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. ¹⁰

  Corgi lists directors and officers insurance among its business insurance offerings.

• TechInsurance

  Specialty Program Group LLC

  Insurance producer · checked 2026-09-28

  TechInsurance’s current licensing page names Specialty Program Group LLC / SPG Insurance Solutions and lists state license numbers, but labels Rhode Island “Individual licenses” rather than identifying a license for the named agency. RI is omitted because this disclosure does not establish agency authority there; this is a search limitation, not an assertion that the company is unlicensed. The remaining state entries are company-reported and are not an insurance product availability map. ¹³

  TechInsurance arranges directors and officers liability insurance for small businesses.

• Vouch

  Vouch Specialty Insurance Services, LLC

  Insurance producer, Surplus-lines broker · checked 2026-09-28

  Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. ¹⁴

  Vouch lists directors and officers insurance in its technology-company programs.

Who Regulates Insurance in Maryland?

Maryland Insurance Administration

The Maryland Insurance Administration licenses producers and insurers, reviews rates and forms, and investigates complaints about insurance companies and producers. You can use its state lookup or complaint service to check a license or raise an insurance issue. ^3,4,5

Website

Regulator website

License lookup

Search licensed producers

Complaints

File a complaint

Phone

800-492-6116

Surplus-Lines Tax and Stamping Office in Maryland

Reported tax rate. 3% of gross premiums less returned premiums when Maryland is the insured's home state; excludes risks of Maryland and its political subdivisions ^6,7

When Maryland is the insured's home state, the tax is 3% of gross premiums less returned premiums, except insurance of risks of the State or a political subdivision. For policies effective on or after July 21, 2011, Maryland taxes the entire premium and the broker must charge the tax in addition to premium. Maryland's property and casualty guaranty corporation excludes surplus-lines policies.

What Should You Ask Before Buying D&O Insurance in Maryland?

1. Does our charter expand or limit the liability of directors and officers, and which claims are carved out?
2. If the company indemnifies a director in a derivative case, who prepares the written report to stockholders?
3. Does the policy advance defense costs while the corporation decides whether indemnification is allowed?

D&O Insurance in Maryland: Frequently Asked Questions

Sources for D&O Insurance in Maryland

1. Maryland Code, Corporations and Associations § 2-405.1. Maryland General Assembly; § 2-405.1, director standard of conduct and official-capacity scope. Accessed 2026-09-28.
2. Maryland Code, Corporations and Associations § 2-418. Maryland General Assembly; § 2-418(b)–(d), (l), indemnification limits, court relief, and stockholder reporting. Accessed 2026-09-28.
3. Maryland Insurance Administration. Maryland Insurance Administration; Homepage and consumer contact. Accessed 2026-09-28.
4. Insurance License Lookup. Maryland Insurance Administration; State-designated producer/company search. Accessed 2026-09-28.
5. File an Insurance Complaint. Maryland Insurance Administration; State complaint process and contact. Accessed 2026-09-28.
6. Md. Code, Insurance §3-324. Maryland General Assembly; Insurance §3-324(a)-(b), (d)-(f): government-risk exclusion; 3% of gross premiums less returns; entire-premium home-state basis from July 21, 2011, with tax charged in addition. Accessed 2026-09-28.
7. Maryland Insurance Article (2026). Maryland General Assembly; Insurance §9-303(5), (7): surplus-lines and unauthorized insurers excluded from property and casualty guaranty subtitle; 2026 Insurance Article PDF. Accessed 2026-09-28.
8. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
9. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
10. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
11. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
12. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
13. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
14. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.