The term MAIF refers to the Maryland Automobile Insurance Fund. The fund was established in 1972 by the Maryland State Legislature. The purpose of the fund is to provide liability insurance and physical damage insurance to drivers that have difficulty obtaining the coverage due to their driving records. In order to obtain the coverage, a driver must not be able to obtain a policy from a private source. Maryland residency and a Maryland drivers license or registration are additional requirements of the program.
MAIF is an agency of the State of Maryland. Rules that govern this state agency are found in Title 20 of the Insurance Article of the Annotated Code of Maryland. The State of Maryland does not fund MAIF nor can any of MAIF’s debts be held by the state. The MAIF Board of Trustees has a dozen members. Five members are chosen by the insurance industry and seven are appointed by the Governor. One of the members is the Executive Director.
Roadway Auto Insurance is the agency that provides MAIF services. In order to obtain coverage, drivers must be able to demonstrate that they have been denied coverage by two private insurers for reasons other than nonpayment. No one is denied coverage and coverage can be placed on an immediate basis. Roadway is able to provide Maryland Insurance Certification also knows as FR-19 certification. This makes it possible for drivers to register or renew a vehicle registration. SR-22 certification or a Certificate of Financial Responsibilty is often required for drivers that have certain violations such as DUI or reckless driving. Roadway can provide this certification as well.
State law in Maryland mandates that vehicle owners and drivers have liability insurance. Companies that finance auto purchases require that their interest in a financed vehicle be protected. Many drivers can purchase the needed insurance in the private market. For those that are unable to do so, the Maryland Automobile Insurance Fund and Roadway Auto Insurance are available to make sure that drivers and other motorists are protected as required by law.