Source: http://www.state.me.us/pfr/insurance/consent_agreements/pre-2000/mcins9727.htm
Timestamp: 2015-01-25 18:24:48
Document Index: 709202694

Matched Legal Cases: ['§ 6603', '§ 6603', '§ 6603', '§ 6607', '§ 229', '§ 6603']

>> All Consent Agreements in Date Order In Re: TRANSPORT LEASING/
CONTRACT, INC. )
Docket No. MC INS 97-27 Pursuant to Title 32 M.R.S.A. Chapter 125, Transport Leasing/Contract, Inc. was authorized to act as an employee leasing company in the State of Maine, effective March 21, 1997. On May 23, 1997, the Bureau of Insurance notified Transport Leasing/Contract, Inc. that it had not complied with the requirements of Title 24-A M.R.S.A. § 6603-A, which provides that an employee leasing company that is offering health care benefits to its client employees must submit certain financial and actuarial information to the Superintendent or must provide proof of health insurance coverage with an insurer authorized to do business in the State of Maine. As proof of compliance with this law, Transport Leasing/Contract, Inc. submitted an insurance policy with Blue Cross Blue Shield of North Dakota. Blue Cross Blue Shield of North Dakota is not authorized to do business in the State of Maine. As a result of Transport Leasing/Contract, Inc.'s failure to comply with Title 24-A M.R.S.A. § 6603-A, the Superintendent has been unable to determine the following: whether employees have been paid in a timely fashion;
whether payroll taxes and income taxes have been paid to the appropriate state or federal agency in a timely fashion;
whether specific excess insurance is maintained with a retention level adequate for the plan; and
whether appropriate loss and loss expense reserves are maintained that are adequate for the plan.
THEREFORE, pursuant to Title 24-A M.R.S.A. § 6603(4), the authority of Transport Leasing/Contract, Inc. to do new business in the State of Maine is hereby revoked effective immediately. Transport Leasing/Contract, Inc. has 60 days from the effective date of this Order in which to comply with the requirements of section 6603(4) or to file proof that its has purchased a health insurance policy that will cover all new clients in the State of Maine in the future. If Transport Leasing/Contract, Inc. does not comply within the prescribed time period, a permanent Revocation Order that prescribes the terms and conditions of a termination of authority will be issued. The Termination Order will set forth protections for current clients of Transport Leasing/Contract, Inc. and may include the posting of a surety bond or other security pursuant to Title 24-A M.R.S.A. § 6607. Pursuant to Title 24-A M.R.S.A. § 229, you have a right to request a hearing on this Order. The filing of a request for a hearing does not automatically stay this Order. The effective date of this Order is November 7, 1997. November 4, 1997
Acting Superintendent of Insurance In Re:
Transport Leasing/Contract, Inc. )
Docket No. MC INS 97-27 Pursuant to Title 32 M.R.S.A. Chapter 125, Transport Leasing/Contract, Inc. was authorized to act as an employee leasing company in the State of Maine, effective March 21, 1997. On November 4, 1997, the Superintendent of Insurance issued a Revocation Order to Transport Leasing/Contract, Inc. for failure to comply with the requirements of Title 24-A M.R.S.A. § 6603-A, which provides that an employee leasing company must submit certain financial and actuarial information to the Superintendent. Transport Leasing/Contract, Inc. has complied with the requirements of Maine law to remain licensed as an employee leasing company. THEREFORE, it is hereby ordered, that the Revocation Order issued on November 4, 1997, with an effective date of November 7, 1997, is hereby rescinded. Transport Leasing/Contract, Inc. may engage in new employee leasing activity on the effective date of this Order. The effective date of this Order is January 29, 1998. January 29, 1998