Terms Used In Maryland Code, INSURANCE 11-406

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
To further more equitable establishment and adjustment of rates and premiums and forms of contracts, policies, or guarantees of insurance, the Commissioner and each title insurer may:

(1) exchange information and experience data with each other, with insurance supervisory officials and insurers in other states, and with national organizations and associations; and

(2) consult and cooperate with them about rate and premium making and forms of contracts, policies, and guarantees of insurance.