# COMAR 31.05.10.05: COMAR 31.05.10.05. Aggregate Risk Limits

> Maryland · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_05

## Section

- **Citation:** COMAR 31.05.10.05
- **Heading:** COMAR 31.05.10.05. Aggregate Risk Limits
- **Jurisdiction:** Maryland
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Code of Maryland Regulations / Title 31 MARYLAND INSURANCE ADMINISTRATION / Subtitle 05 ASSETS, LIABILITIES, RESERVES, AND INVESTMENTS OF INSURERS / Chapter 10 Financial Guaranty Insurance / COMAR 31.05.10.05

## Text

A. A financial guaranty insurer shall at all times maintain capital, surplus, and contingency reserve in the aggregate not less than the sum of:
(1) 0.3333 percent or 1/300th of the total liability under guaranties of municipal obligation bonds and special revenue bonds, including obligations demonstrated to the satisfaction of the Commissioner to be the functional equivalent of municipal obligation bonds or special revenue bonds, and investment grade utility first mortgage obligations; plus
(2) 0.6666 percent or 1/150th of the total liability under guaranties of investment grade asset-backed securities; plus
(3) 1.0 percent or 1/100th of the total liability under guaranties, to the extent secured by collateral or having a term of 7 years or less, of:
(a) Investment grade industrial development bonds; or
(b) Other investment grade obligations; plus
(4) 1.5 percent or 1/66.67th of the total liability under guaranties of other investment grade obligations; plus
(5) 2.0 percent or 1/50th of the total liability under guaranties of:
(a) Non-investment grade consumer debt obligations; and
(b) Non-investment grade asset-backed securities; plus
(6) 2.5 percent or 1/40th of the total liability under guaranties of non-investment grade obligations to the extent secured by first mortgages on commercial real estate and having loan-to-value ratios of 80 percent or less; plus
(7) 4.0 percent or 1/25th of the total liability under guaranties of other non-investment grade obligations.
B. If the amount of collateral required by §A(1) of this regulation is no longer maintained, that proportion of the obligation insured that is not collateralized shall be subject to the aggregate limits specified in §A(2) of this regulation .

## Nearby sections

- [COMAR 31.05.10.01 COMAR 31.05.10.01. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_01.md)
- [COMAR 31.05.10.02 COMAR 31.05.10.02. Contingency Reserve Requirements](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_02.md)
- [COMAR 31.05.10.03 COMAR 31.05.10.03. Scope of Certificate of Authority](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_03.md)
- [COMAR 31.05.10.04 COMAR 31.05.10.04. Credit Risk Exposure Limits](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_04.md)
- [COMAR 31.05.10.05 COMAR 31.05.10.05. Aggregate Risk Limits](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_05.md)
- [COMAR 31.05.10.06 COMAR 31.05.10.06. Single Risk Limits](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_06.md)
- [COMAR 31.05.10.07 COMAR 31.05.10.07. Insurers That Exceed Limitations](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_07.md)
- [COMAR 31.05.10.08 COMAR 31.05.10.08. Collateral](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_08.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_10_05. Check the current official text before relying on it. Not legal advice.