Source: http://www.maine.gov/pfr/insurance/consent_agreements/2000-2004/02778.htm
Timestamp: 2014-03-10 06:50:16
Document Index: 234369841

Matched Legal Cases: ['§ 8003', '§ 220', '§ 1906', '§ 12', '§ 402', '§ 408']

>> All Consent Agreements in Date Order IN RE NEAR NORTH
DOCKET NO. INS-02-778
Near North Insurance Brokerage, Inc., the Maine Superintendent of Insurance, and the Maine Department of the Attorney General hereby enter into this Consent Agreement, pursuant to 10 M.R.S.A. § 8003(5)(B), to resolve without an adjudicatory proceeding issues arising out of Near North's conduct under a license issued by the Superintendent.
2. Near North has its principal place of business in the State of Illinois and is licensed by the Superintendent as a nonresident third-party administrator.
6. Followup notice was sent on March 11 to all entities, including Near North, that had not yet filed the required report. On April 29, the Executive Director of the MHDO sent Near North, along with other noncompliant entities, an additional notice by certified mail, designated "FINAL NOTICE," recapitulating the reporting requirement, enclosing a copy of the reporting form and advising that the form was also available on the Bureau of Insurance website, and warning that failure to file with the MHDO or Bureau of Insurance within 14 days could result in a referral for enforcement action.
7. As of July 15, 2002, Near North had still failed to file the required information for calendar year 2001.
8. Near North's failure to submit timely claims data reports and its failures to respond to the followup inquiries by the Superintendent violated 24-A M.R.S.A. §§ 220(2) and 1906(4).
Near North, the Superintendent, and the Department of the Attorney General agree to the following:
10. Near North agrees to provide complete and accurate claims information for calendar year 2001 to the MHDO on or before August 15, 2002, in compliance with 24-A M.R.S.A. § 1906(4), and to provide complete, accurate, and timely information in each subsequent year.
11. Near North agrees to the imposition of a civil penalty of $500, pursuant to 24-A M.R.S.A. § 12-A, and shall submit a check in that amount, payable to the Treasurer of the State of Maine, at the time of the execution of this Agreement.
12. In consideration of Near North's execution of and compliance with the terms of this Consent Agreement, the Superintendent agrees to forgo pursuing any disciplinary measures or other civil or administrative sanction for the actions described in the Stipulations, other than those agreed to in this Consent Agreement. However, should Near North violate this Consent Agreement, the Superintendent reserves the right to pursue any available legal remedy for the violation, including without limitation the suspension or revocation of all licenses issued to Near North by the Superintendent.
14. Near North understands and acknowledges that this Agreement will constitute a public record within the meaning of 1 M.R.S.A. § 402, will be available for public inspection and copying as provided for by 1 M.R.S.A. § 408, and will be reported to the National Association of Insurance Commissioners' "RIRS" database.
15. Near North has been advised of its right to consult with counsel, and has consulted with counsel before executing this Agreement.
FOR NEAR NORTH INSURANCE BROKERAGE, INC.
(printed name and title) Personally appeared before me this day ____________________________, and signed this Consent Agreement in my presence.