It is an unfair claim settlement practice and a violation of this subtitle for an insurer, nonprofit health service plan, or health maintenance organization to: misrepresent pertinent facts or policy provisions that relate to the claim or coverage at issue; refuse to pay a claim for an arbitrary or capricious reason based on all available information; fail to meet the requirements of Title 15, Subtitle 10B of this article for preauthorization for a health care service; or to do other prohibited acts.