An Act To Revise Certain Financial Regulatory Provisions of the Maine Insurance Code To Be Consistent with Model Laws from the National Association of Insurance Commissioners
Maine Legislature, Session 130, LD 1815
Committee: Health Coverage, Insurance and Financial Services
Sponsors: SANBORN
Amends: 24-A MRSA §15, 24-A MRSA §208, 24-A MRSA §216, 24-A MRSA §222, 24-A MRSA §423-G, 24-A MRSA §951-A, 24-A MRSA §992, 24-A MRSA §6451

Legislative Document
No. 1815
S.P. 642
In Senate, December 17, 2021
An Act To Revise Certain Financial Regulatory Provisions of the 
Maine Insurance Code To Be Consistent with Model Laws from the 
National Association of Insurance Commissioners
Submitted by the Department of Professional and Financial Regulation pursuant to Joint 
Rule 203.
Received by the Secretary of the Senate on December 15, 2021.  Referred to the Committee 
on Health Coverage, Insurance and Financial Services pursuant to Joint Rule 308.2 and ordered 
printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator SANBORN of Cumberland.
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  24-A MRSA §15 is enacted to read:
§15.  NAIC defined
As used in this Title, “NAIC” or “National Association of Insurance Commissioners” 
means the National Association of Insurance Commissioners or its successor organization 
of insurance regulators.
Sec. 2.  24-A MRSA §208, first ¶, as corrected by RR 2021, c. 1, Pt. B, §150, is 
amended to read:
The superintendent may from time to time contract for such additional actuarial, 
examination, rating and other technical and professional services as the superintendent may 
require be required for discharge of the superintendent's duties. If a contractor retained 
pursuant to this section has access to confidential information, the contract must require 
the contractor to comply with the requirements of section 216, subsection 5, paragraph B-1.
Sec. 3.  24-A MRSA §216, sub-§5, ¶B-1 is enacted to read:
B-1.  The superintendent may authorize a contractor retained pursuant to section 208, 
or any other person outside the bureau that is otherwise designated to act on behalf of 
the superintendent, to receive confidential information.  The recipient of confidential 
information is under the direction and control of the superintendent, is subject to the 
same confidentiality standards and requirements as the superintendent and shall act in 
a purely advisory capacity.  The recipient of confidential information shall comply with 
the requirements of this paragraph.
(1)  Access to confidential information may not be granted unless the recipient 
agrees in writing that:
(a)  The recipient will maintain the confidentiality of any confidential 
information that the superintendent has authorized the recipient to access, and 
establish appropriate procedures to protect such information from 
unauthorized access or use;
(b)  Ownership of any confidential information shared by the superintendent 
pursuant to this paragraph remains with the superintendent and that the use of 
such information by the recipient is subject to the direction of the 
superintendent;
(c)  The recipient will not store confidential information obtained or created 
under the contract in a permanent file or database after the work involving the 
information is completed;
(d)  The recipient will provide prompt notice to the superintendent of any 
subpoena, request for disclosure or request for production of confidential 
information; and
(e)  The recipient will consent to intervention by an insurer in any judicial or 
administrative action in which the recipient may be required to disclose 
confidential information about the insurer that has been shared pursuant to this 
paragraph.
(2)  The recipient of confidential information shall confirm in writing to the 
superintendent that the recipient is free from conflicts of interest and will conduct 
ongoing monitoring for conflicts of interest for the duration of the work involving 
the confidential information.
Sec. 4.  24-A MRSA §216, sub-§5, ¶C, as enacted by PL 2013, c. 238, Pt. A, §1 
and affected by §34, is amended to read:
C.  The superintendent may enter into one or more written agreements with the National 
Association of Insurance Commissioners governing sharing and using information 
under this subsection that:
(1)  Specify procedures and protocols regarding the confidentiality and security of 
information shared with the National Association of Insurance Commissioners and 
its affiliates and subsidiaries pursuant to this paragraph, including procedures and 
protocols for sharing by the National Association of Insurance Commissioners 
with other state, federal or international insurance regulators;
(2)  Specify that ownership of information shared with the National Association of 
Insurance Commissioners and its affiliates and subsidiaries pursuant to this 
paragraph remains with the superintendent and that the use of information by the 
National Association of Insurance Commissioners is subject to the direction of the 
superintendent;
(2-A)  Prohibit the National Association of Insurance Commissioners from storing 
confidential information in a permanent file or database after the analysis of the 
confidential information is completed, other than liquidity stress test information 
obtained pursuant to section 222, subsection 8, paragraph B-1, subparagraph (3);
(3)  Require prompt notice to be given by the National Association of Insurance 
Commissioners to any insurer whose confidential information is in the possession 
of the National Association of Insurance Commissioners pursuant to this paragraph 
when that information is the subject of a request or subpoena for disclosure or 
production; and
(4)  Require the National Association of Insurance Commissioners and its affiliates 
and subsidiaries to consent to intervention by an insurer in any judicial or 
administrative action in which the National Association of Insurance 
Commissioners and its affiliates and subsidiaries may be required to disclose 
confidential information about the insurer shared with the National Association of 
Insurance Commissioners and its affiliates and subsidiaries pursuant to this 
paragraph.
Sec. 5.  24-A MRSA §222, sub-§2, ¶B-4 is enacted to read:
B-4.  “Group capital calculation” means a method for insurance groups to assess the 
financial condition of the group, including noninsurance entities within the group, in 
order to identify and quantify potential risks.
Sec. 6.  24-A MRSA §222, sub-§2, ¶B-5 is enacted to read:
B-5.  “Group capital calculation instructions” means the group capital calculation 
instructions as adopted by the NAIC and as amended by the NAIC from time to time 
in accordance with the procedures adopted by the NAIC.
Sec. 7.  24-A MRSA §222, sub-§2, ¶D-7 is enacted to read:
D-7.  "Liquidity stress test" means a method for insurance groups to assess the potential 
effects of liquidity risk to the insurer and to the financial markets.
Sec. 8.  24-A MRSA §222, sub-§2, ¶D-8 is enacted to read:
D-8.  “NAIC Liquidity Stress Test Framework” means the NAIC publication that 
includes the applicable scope criteria and liquidity stress test instructions and reporting 
templates, as adopted by the NAIC and amended from time to time in accordance with 
the procedures adopted by the NAIC.
Sec. 9.  24-A MRSA §222, sub-§2, ¶E-1 is enacted to read:
E-1.  “Scope criteria” means the designated exposure bases and minimum magnitudes, 
as detailed in the NAIC Liquidity Stress Test Framework, used to establish a 
preliminary list of insurers that are presumptively within the scope of the NAIC 
Liquidity Stress Test Framework.
Sec. 10.  24-A MRSA §222, sub-§4-C, ¶C, as amended by PL 2017, c. 169, Pt. B, 
§5, is further amended by amending subparagraph (12) to read:
(12)  An agreement by the person required to file the application to provide the 
annual enterprise risk report required by subsection 8, paragraph B‑1, 
subparagraph (1) for as long as control by the person exists;
Sec. 11.  24-A MRSA §222, sub-§8, ¶B-1, as enacted by PL 2013, c. 238, Pt. A, 
§18 and affected by §34, is amended to read:
B-1.  The controlling person with ultimate control of an insurer subject to registration 
shall also file an annual enterprise risk report.  The report must be appropriate to the 
nature, scale and complexity of the operations of the insurance holding company 
system and must, to the best of the controlling person's knowledge and belief, identify 
the material risks within the insurance holding company system, if any, that could pose 
enterprise risk to the insurer in accordance with subparagraph (1) and, if applicable, 
shall file any additional reports required by this paragraph.  The report reports must be 
filed with the lead state regulator of the insurance holding company system as 
determined by the procedures within the financial analysis handbook adopted by the 
National Association of Insurance Commissioners; NAIC Financial Analysis 
Handbook or successor publication.
(1)  The enterprise risk report must be appropriate to the nature, scale and 
complexity of the operations of the insurance holding company system and must, 
to the best of the controlling person’s knowledge and belief, identify the material 
risks within the insurance holding company system, if any, that could pose 
enterprise risk to the insurer.
(2)  Except as otherwise provided in this subparagraph, the ultimate controlling 
person of an insurer subject to registration shall file an annual group capital 
calculation concurrently with the registration required by paragraph A. The report 
must be completed as directed by the lead state regulator in accordance with the 
group capital calculation instructions, which may permit the lead state regulator to 
allow a controlling person that is not the ultimate controlling person to file the 
group capital calculation. 
(a)  An insurance holding company is exempt from filing the group capital 
calculation if it has only one insurer within its holding company structure and 
that insurer is not licensed outside this State to transact insurance, does not 
write business outside this State and does not assume reinsurance from any 
other insurer.
(b)  An insurance holding company is exempt from filing the group capital 
calculation if it is required to perform a group capital calculation specified by 
the Board of Governors of the Federal Reserve System and the lead state 
regulator has obtained the current group capital calculation from the board of 
governors. If this State is the insurance holding company system’s lead state, 
the superintendent shall request the calculation from the board of governors 
under the terms of information sharing agreements in effect.
(c)  An insurance holding company is exempt from filing the group capital 
calculation if its groupwide supervisor is located within a non-United States 
jurisdiction that the superintendent has designated as a reciprocal jurisdiction 
pursuant to section 731-B, subsection 1, paragraph B-3, subparagraph (1), 
division (b) and that recognizes the United States system of group supervision 
and group capital regulation.
(d)  An insurance holding company is exempt from filing the group capital 
calculation if its groupwide supervisor is located in a non-United States 
jurisdiction and:
(i)  The lead state regulator meets the requirements for accreditation under 
the NAIC financial standards and accreditation program and the insurance 
holding company system provides information to the lead state regulator, 
either directly or indirectly through the groupwide supervisor, that the lead 
state regulator has determined to be satisfactory to allow the lead state to 
comply with the NAIC group supervision approach, as detailed in the 
NAIC Financial Analysis Handbook or successor publication; and
(ii)  The groupwide supervisor recognizes and accepts the group capital 
calculation as the worldwide group capital assessment for United States 
insurance groups that operate in that non-United States jurisdiction, 
consistent with criteria specified by the superintendent by rule.
(e)  Notwithstanding divisions (c) and (d), a non-United States-based insurance 
holding company system shall file a group capital calculation limited to its 
United States operations if its lead state regulator determines, after any 
necessary consultation with other supervisors or officials, that requiring a 
United States group capital calculation is appropriate for prudential oversight 
and solvency monitoring purposes or for ensuring the competitiveness of the 
insurance marketplace.
(f)  If this State is an insurance holding company system’s lead state, the 
superintendent may exempt the ultimate controlling person from filing an 
annual group capital calculation or may accept a limited group capital filing or 
report in accordance with criteria specified by the superintendent by rule. An 
exemption or modification granted under a substantially similar law of another 
jurisdiction that is the lead state of an insurance holding company system that 
includes a domestic insurer applies to a filing otherwise required by this 
subparagraph.
(g)  If the lead state regulator determines that an insurance holding company 
system no longer meets one or more of the requirements for an exemption from 
filing the group capital calculation under this subparagraph, the insurance 
holding company system shall file the group capital calculation at the next 
annual filing date unless given an extension by the lead state regulator based 
on reasonable grounds shown.
(3)  The ultimate controlling person of an insurer subject to registration shall file 
the results of a liquidity stress test for each data year for which the insurer’s 
insurance holding company system is within the scope of that year’s NAIC 
Liquidity Stress Test Framework, as determined by the lead state regulator.
(a)  If this State is the lead state, the determination that an insurer is within 
scope or out of scope must be based on whether the insurer or its insurance 
holding company system meets at least one threshold in the applicable scope 
criteria, unless the superintendent determines, in consultation with the NAIC 
Financial Stability Task Force or its successor organization, that there is good 
cause to exclude an insurer or insurance holding company system that meets 
one or more thresholds or to include an insurer or insurance holding company 
system that does not meet any of the thresholds. In making that determination, 
the superintendent shall consider the goal of providing a stable experience base 
and avoiding insurers moving in and out of scope frequently.
(b)  A liquidity stress test under this subparagraph must be performed, and its 
results must be filed, in accordance with the NAIC Liquidity Stress Test 
Framework’s instructions and reporting templates for that data year.
(c)  For the purposes of this subparagraph, any change to the NAIC Liquidity 
Stress Test Framework, including the data to be used in applying the scope 
criteria, is effective on January 1st of the year following the calendar year when 
the change is adopted by the NAIC.
Sec. 12.  24-A MRSA §222, sub-§8, ¶B-3, as amended by PL 2021, c. 16, §5, is 
further amended by amending subparagraph (5), division (a) to read:
(a)  Beginning no later than 2015, the ORSA summary report must be prepared 
at least annually, on a timetable consistent with the insurer's internal strategic 
planning processes, and submitted to the lead regulator of the insurer's 
insurance holding company system, as determined by the procedures within a 
financial analysis handbook adopted by the National Association of Insurance 
Commissioners the NAIC Financial Analysis Handbook or successor 
publication.  If the superintendent is not the lead regulator, the insurer shall 
submit the insurer's or insurance holding company system's most recent ORSA 
summary report to the superintendent on request.
Sec. 13.  24-A MRSA §222, sub-§8, ¶C, as amended by PL 2013, c. 238, Pt. A, 
§19 and affected by §34, is further amended to read:
C.  An insurer does not need to disclose on the registration statement filed pursuant to 
this subsection information that is not material to the purposes of this section. Unless 
the superintendent by rule or order provides otherwise, sales, Sales, purchases, 
exchanges, loans or extensions of credit or investments involving 1/2 of 1% or less of 
an insurer's admitted assets as of December 31st immediately preceding are not 
material for purposes of this section;, except:
(1)  For purposes of the group capital calculation and liquidity stress test in 
accordance with paragraph B-1, subparagraphs (2) and (3);
(2)  When the instructions for a specific filing specify a different materiality 
threshold or specify that no materiality threshold applies; or
(3)  As the superintendent otherwise provides by rule or order.
Sec. 14.  24-A MRSA §222, sub-§9, ¶D-1 is enacted to read:
D-1.  If an insurer subject to this Title is determined by the superintendent to be in 
hazardous financial condition as defined by rule or a condition that would be grounds 
for a delinquency proceeding under chapter 57, the superintendent may require the 
insurer to secure and maintain either a deposit, held by the Treasurer of State on behalf 
of the superintendent, or a bond, as determined by the insurer at the insurer’s discretion, 
for the protection of the insurer for the duration of a contract or agreement or the 
duration of the condition for which the superintendent required the deposit or the bond. 
In determining whether a deposit or a bond is required, the superintendent shall 
consider whether concerns exist with respect to the affiliated person’s ability to fulfill 
all of its contracts or agreements if the insurer were to be put into liquidation. If the 
insurer is determined to be in hazardous financial condition or in a condition that would 
be grounds for a delinquency proceeding, and a deposit or bond is required, the 
superintendent has discretion to determine the amount of the deposit or bond, not to 
exceed the aggregate value in any one year of all contracts or agreements secured by 
the deposit or bond, and whether the deposit or bond should be required for a single 
contract, multiple contracts or a contract with a specific person.
Sec. 15.  24-A MRSA §222, sub-§9, ¶D-2 is enacted to read:
D-2.  All records and data of the insurer held by an affiliate are and remain the property 
of the insurer, must be subject to control of the insurer, must be identifiable and must 
be segregated or readily capable of segregation, at no additional cost to the insurer, 
from all other persons’ records and data. This includes all records and data that are 
otherwise the property of the insurer, in whatever form maintained, including, but not 
limited to, claims and claim files, policyholder lists, application files, litigation files, 
premium records, rate books, underwriting manuals, personnel records, financial 
records and similar records within the possession, custody or control of the affiliate. At 
the request of the insurer or its receiver, the affiliate shall allow the insurer or receiver 
to obtain a complete set of all records of any type that pertain to the insurer’s business 
and obtain access to the electronic operating systems on which the data is maintained 
or software that runs those systems either through assumption of licensing agreements 
or otherwise and shall restrict the use of the data by the affiliate if it is not operating 
the insurer’s business. The affiliate shall provide a waiver of any landlord lien or other 
encumbrance to give the insurer access to all records and data in the event of the 
affiliate’s default under a lease or other agreement.
Sec. 16.  24-A MRSA §222, sub-§9, ¶D-3 is enacted to read:
D-3.  Premiums or other funds belonging to the insurer that are collected by or held by 
an affiliate are the exclusive property of the insurer and are subject to the control of the 
insurer. Any offset in the event that an insurer is placed into receivership is subject to 
section 4381.
Sec. 17.  24-A MRSA §222, sub-§13-A, ¶A, as amended by PL 2017, c. 169, Pt. 
B, §10, is further amended by enacting a new subparagraph (2-A) to read:
(2-A)  Any group capital calculation or liquidity stress test, including all supporting 
information, conducted under the authority of a non-United States financial 
supervisor or the Board of Governors of the Federal Reserve System;
Sec. 18.  24-A MRSA §222, sub-§13-A, ¶C, as enacted by PL 2013, c. 238, Pt. A, 
§26 and affected by §34, is amended by amending subparagraph (4) to read:
(4)  ORSA-related information subject to subsection 8, paragraph B‑3 may, with 
the written consent of the insurer, be shared with a 3rd-party consultant under an 
agreement containing the conditions specified in section 216, subsection 5, 
paragraph C person under contract with the superintendent pursuant to section 208. 
In addition, any agreement for sharing ORSA-related information with the person 
under the contract with the superintendent or with the National Association of 
Insurance Commissioners or a 3rd-party consultant must further provide that:
(a)  The recipient of the information agrees in writing to maintain the 
confidentiality and privileged status of the ORSA-related information and has 
verified in writing the legal authority to maintain confidentiality; and
(b)  Any preauthorization granted under the agreement for further sharing of 
information provided by the superintendent must be limited to only the 
domiciliary regulators of other insurers in the same insurance holding company 
system; and.
(c)  The National Association of Insurance Commissioners or a 3rd-party 
consultant may not store ORSA-related information shared pursuant to this 
subparagraph in a permanent database after the underlying analysis is 
completed.
Sec. 19.  24-A MRSA §222, sub-§13-A, ¶C, as enacted by PL 2013, c. 238, Pt. A, 
§26 and affected by §34, is amended by enacting a new subparagraph (5) to read:
(5)  If the superintendent authorizes a contractor to have access to liquidity stress 
test information provided pursuant to subsection 8, paragraph B-1, subparagraph 
(3), the superintendent shall disclose the identity of the contractor to the applicable 
insurers.
Sec. 20.  24-A MRSA §222, sub-§13-A, ¶F is enacted to read:
F.  Except as otherwise required under this section, directly or indirectly publicly 
disseminating a statement in print or electronically regarding a group capital 
calculation required under subsection 8, paragraph B-1, subparagraph (2) or its 
resulting group capital ratio, a liquidity stress test required under subsection 8, 
paragraph B-1, subparagraph (3) or its results or supporting disclosures of any insurer 
or any insurance group or of any component derived in the calculation by any insurer, 
producer or other person engaged in any manner in the insurance business is prohibited. 
The insurer may publish in a written publication an announcement the sole purpose of 
which is to rebut any materially false statement or inappropriate comparison if the 
materially false statement or inappropriate comparison relating to a group capital 
calculation, group capital ratio, liquidity stress test or test results or supporting 
disclosures is published in any written publication and the insurer is able to demonstrate 
to the superintendent with substantial proof the falsity of that statement or the 
inappropriateness, as the case may be.
Sec. 21.  24-A MRSA §222, sub-§14-B is enacted to read:
14-B.  Supervision, seizure, conservatorship or receivership proceedings.  This 
subsection governs an affiliate's obligations under supervision, seizure, conservatorship or 
receivership proceedings against an insurer.
A. An affiliate that is party to an agreement or contract with a domestic insurer that is 
subject to subsection 9, paragraph E, subparagraph (4) is subject to the jurisdiction of 
a supervision, seizure, conservatorship or receivership proceeding against the insurer 
and to the authority of a supervisor, rehabilitator or liquidator for the insurer appointed 
pursuant to chapter 57 for the purpose of interpreting, enforcing and overseeing the 
affiliate’s obligations under the agreement or contract to perform services for the 
insurer that are: 
(1) An integral part of the insurer’s operations, including, but not limited to, 
management, 
administrative, 
accounting, 
data 
processing, 
marketing, 
underwriting, claims handling and investment functions and any other similar 
functions; or 
(2) Essential to the insurer’s ability to fulfill its obligations under insurance 
policies. 
B. The superintendent may require that an agreement or contract subject to subsection 
9, paragraph E, subparagraph (4) for the provision of services described in paragraph 
A, subparagraph (1) or (2) specify that the affiliate consents to jurisdiction as set forth 
in this subsection.
Sec. 22.  24-A MRSA §423-G, sub-§1, ¶E, as enacted by PL 2017, c. 169, Pt. A, 
§5, is repealed.
Sec. 23.  24-A MRSA §423-G, sub-§4-A is enacted to read:
4-A.  Sharing CGAD information with the NAIC.  The superintendent may share 
confidential information provided or obtained under this section with the NAIC only in 
accordance with a written agreement that contains the provisions specified in section 216, 
subsection 5, paragraph C and the following additional provisions:  
A. Procedures and protocols for sharing by the NAIC only with other state regulators 
from states in which the insurance group has domiciled insurance carriers. The 
agreement must provide that the recipient agrees to maintain the confidentiality and 
privileged status of the CGAD-related documents, materials or other information and 
must document the NAIC’s legal authority to maintain confidentiality;  
B. A provision requiring the NAIC to provide prompt notice to the superintendent, in 
addition to the notice to the domestic insurance carrier or insurance group required by 
section 216, regarding any subpoena, request for disclosure or request for production 
of the domestic insurance carrier’s or insurance group’s CGAD-related information; 
and  
C. A provision expressly requiring the written consent of the domestic insurance carrier 
before any information shared pursuant to this section may be made public.
Sec. 24.  24-A MRSA §423-G, sub-§5, as enacted by PL 2017, c. 169, Pt. A, §5, 
is amended to read:
5.  NAIC and independent Independent consultants.  This subsection governs 
independent consultants retained to review corporate governance annual disclosure and 
compliance with this section.
A.  The superintendent may retain, at the domestic insurance carrier's expense, 
independent consultants as provided in section 208, including attorneys, actuaries, 
accountants and other experts as may be reasonably necessary to assist the 
superintendent in reviewing the CGAD and related information or the domestic 
insurance carrier's compliance with this section.
B.  Any persons retained under paragraph A must be under the direction and control of 
the superintendent, are subject to the same confidentiality standards and requirements 
as the superintendent and must act in a purely advisory capacity are subject to the 
requirements of section 216, subsection 5, paragraph B-1.
C.  The superintendent may not retain an independent consultant that has not verified 
to the superintendent, with notice to the domestic insurance carrier, that it is free of a 
conflict of interest and that it has internal procedures in place to monitor ongoing 
freedom from conflicts and to comply with the confidentiality standards and 
requirements of this section.
D.  The superintendent may share confidential information provided or obtained under 
this section with the NAIC only in accordance with a written agreement that contains 
the provisions specified in section 216, subsection 5, paragraph C and the following 
additional provisions:
(1)  Procedures and protocols for sharing by the NAIC only with other state 
regulators from states in which the insurance group has domiciled insurance 
carriers.  The agreement must provide that the recipient agrees to maintain the 
confidentiality and privileged status of the CGAD-related documents, materials or 
other information and must document the NAIC's legal authority to maintain 
confidentiality;
(2)  A provision that prohibits the NAIC from storing the information shared 
pursuant to this section in a permanent database after the underlying analysis is 
completed;
(3)  A provision requiring the NAIC to provide prompt notice to the superintendent, 
in addition to the notice to the domestic insurance carrier or insurance group 
required by section 216, regarding any subpoena, request for disclosure or request 
for production of the domestic insurance carrier's or insurance group's CGAD-
related information; and
(4)  A provision expressly requiring the written consent of the domestic insurance 
carrier before any information shared pursuant to this section may be made public.
E.  The superintendent may share confidential information provided or obtained under 
this section with an independent consultant only in accordance with a written 
agreement that makes compliance with the confidentiality requirements of this section 
one of the consultant's duties as a state contractor and includes all protections that the 
NAIC is required to provide in an agreement entered into under paragraph D subsection 
4-A.
Sec. 25.  24-A MRSA §951-A, sub-§2, as enacted by PL 2013, c. 238, Pt. C, §2, is 
repealed.
Sec. 26.  24-A MRSA §992, sub-§2, as enacted by PL 2007, c. 281, §2 and affected 
by §3, is repealed.
Sec. 27.  24-A MRSA §6451, sub-§5, as enacted by PL 1993, c. 634, Pt. A, §1, is 
repealed.
SUMMARY
This bill amends the Maine Revised Statutes, Title 24-A, section 222 to enact the most 
recent revisions to the National Association of Insurance Commissioners Holding 
Company Model Act, which establish the group capital calculation and liquidity stress test 
framework and provide additional safeguards to ensure the performance of contracts 
between a domestic insurer and its noninsurer affiliates.  The bill also provides a uniform 
definition of “National Association of Insurance Commissioners” or “NAIC” throughout 
Title 24-A and a unified framework for controlling access to confidential information when 
the Department of Professional and Financial Regulation, Bureau of Insurance engages 
outside contractors.