Md. Code, Business Regulation § 12.5–205

(a) Each licensed locksmith shall maintain general liability insurance:

(1) in the amount of at least $300,000;

(2) with coverage appropriate for the individual’s circumstances; and

(3) in accordance with the regulations adopted by the Secretary under this section.

(b) A licensee shall give the Secretary notice of the cancellation of insurance at least 10 days before the effective date of the cancellation.