The goal of the Underwriting Unit is to manage the insurance needs of the State with self-insurance or through the procurement of commercial insurance. Commercial insurance protects the State Insurance Trust Fund from catastrophic losses and fulfills certain statutory requirements and agency contractual agreements. The Unit analyzes commercial coverage offerings, prices, limits and deductibles and then recommends to the Treasurer the combination that best protects the State of Maryland’s assets.

Annual Insurance Survey

As part of its mission to manage the State’s insurance needs, the Underwriting Unit conducts an annual insurance survey to gather data on State exposures. The collected data is used to purchase commercial insurance policies and as a component for setting self-insurance premiums.

Commercial Insurance Policies Report

All commercial insurance policies procured through the State Treasurer’s Office are exhibited by calendar quarter. This information will be updated on a quarterly basis. A full 12 months of our policies are available for your review at all times. Carriers are invited to contact the current broker if they are interested in quoting any of these coverages at the next renewal.

State Insurance Coverage At A Glance

A broad overview of the types of coverage made available to State agencies through the State Treasurer’s Office.

Property Coverage Insurance Programs

When a unit of State government seeks reimbursement from the State Insurance Trust Fund for an occurrence of loss, damage, or liability, the unit shall file its claim with the Treasurer within 60 days after the unit discovers the loss, damage, or liability. COMAR

Underwriting FAQ's

No. The Maryland Tort Claims Act defines who is covered in Section 12-101. Should the agency require assistance with its interpretation, the agency must contact the Assistant Attorney General for their agency.
No. The STO Insurance Division cannot grant permission to someone to operate a State owned vehicle.
Reference the Department of Budget & Management State Vehicle Fleet Policies and Procedures Manual or by calling 800-705-3493.
This is a complex question with many answers depending upon the time, place and circumstances of the incident. Please refer to the following legal memorandum for a detailed analysis: Risks and Liabilities of Automobile Use within the Scope of Public Duties.
No. A claim for theft or other disappearance of an agency’s personal property may not be accepted under any insurance program provided by the Treasurer. An agency of State government shall be solely responsible for the care and custody of its property. COMAR
Yes, for the same perils as other State owned contents. However, if there is an article of fine arts the Treasurer determines is irreplaceable, the indemnity shall be only for the repair of damage.
A certificate of insurance is a document which provides evidence of insurance. Other parties routinely require evidence of insurance coverage for various types of contracts. Examples may be for the lease or rental of premises, rental of a vehicle or for special events. When agreements, leases or contracts require evidence of insurance, the agency should request review by their Assistant Attorney General for compliance with those obligations.
An agency may submit a written request for a certificate of insurance to the STO Insurance Division, to the attention of Luke Reed, Underwriter. The request must contain the name of the person within the agency requesting the certificate, the telephone and fax number, the name and address of your State agency, a brief description of why the certificate is needed and the name and address of the organization requesting the verification of insurance from the agency. The agency representative can e-mail this to Luke Reed, lreed@treasurer.state.md.us and Muriel Turner at mturner@treasurer.state.md.us, or by fax to 410-974-2865.

We are developing an online portal to streamline the process of setting up new agency accounts. In the meantime, please complete this temporary PDF form. To ensure the security of your sensitive information, please only fax the completed form to us at (410) 974-2076 or send via regular mail to the address listed below. We apologize for the inconvenience and appreciate your patience as we transition to the new online system. 


Maryland State Treasurer’s Office 

Banking Services

80 Calvert Street

Annapolis, MD 21401

Lockbox Banking Services

Solicitation Number:

RFP #LB-10192023


Lockbox Banking Services

Issue Date:


Proposals Due: 


Award Date:



Solicitation Letter

Financial Proposal Form


Amendment #2

Questions & Answers #1

Questions & Answers #2 (2 of 2)



The State Treasurer’s Office (“STO”) is an agency of the State of Maryland. Information on Maryland State General Obligation Bonds will be available to you after you read and acknowledge this disclaimer. The Official Statements linked to the Debt Management section of the STO website (the “Official Statements Webpage”) is the only information on this site intended to reach the investing public, including Maryland State General Obligation bondholders, rating analysts, financial advisors, or any other members of the investment community.

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