24-A ME Rev Stat § 1420-F (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 16: PRODUCERS, ADJUSTERS AND CONSULTANTS|Subchapter 2-A: MAINE PRODUCER LICENSING ACT|24-A §1420-F. License

 §1420-F. License 1.  Issuance; lines of authority.  Unless denied licensure pursuant to section 1420‑K, a person who has met the requirements of sections 1420-D and 1420-E must be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of authority, as designated in this subsection for the purposes of this subchapter:   A. Life, which is insurance coverage on human lives, including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income;   [PL 2001, c. 259, §24 (NEW).]B. Accident and health or sickness, which is insurance coverage for sickness, bodily injury or accidental death and may include benefits for disability income;   [PL 2001, c. 259, §24 (NEW).]C. Property, which is insurance coverage for the direct or consequential loss of or damage to property of every kind;   [PL 2001, c. 259, §24 (NEW).]D. Casualty, which is insurance coverage against legal liability, including coverage for death, injury or disability or damage to real or personal property;   [PL 2001, c. 259, §24 (NEW).]E. Variable life and variable annuity products, which is insurance coverage provided under variable life insurance contracts and variable annuities;   [PL 2001, c. 259, §24 (NEW).]F. Personal lines, which is property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes;   [PL 2001, c. 259, §24 (NEW).]G. Credit, which is limited line credit insurance;   [PL 2001, c. 259, §24 (NEW).]H. Travel insurance, which is a limited line and which means insurance coverage for personal risks incident to planned travel, including but not limited to:   (1) Interruption or cancellation of a trip or event;   (2) Loss of baggage or personal effects;   (3) Damages to accommodations or rental vehicles;   (4) Sickness, accident, disability or death occurring during travel;   (5) Emergency evacuation;   (6) Repatriation of remains; or   (7) Any other contractual obligations to indemnify or pay a specified amount to a traveler upon determinable contingencies related to travel as approved by the superintendent.   Travel insurance does not include a major medical plan that provides comprehensive medical protection for travelers on trips lasting longer than 6 months, including travelers working or residing overseas as expatriates, or any other product that requires a specific insurance producer license;   [PL 2021, c. 354, §3 (AMD).]I. Title insurance contracts, which are a limited line;   [PL 2001, c. 259, §24 (NEW).]J.   [PL 2005, c. 43, §2 (RP).]K. Automobile mechanical breakdown contracts, which are a limited line;   [PL 2015, c. 77, §2 (AMD).]L. Insurance offered, sold or solicited in connection with and incidental to the rental of rental cars for a period of no more than 60 days, whether at the rental office or by preselection of coverage in master, corporate, group or individual agreements, that is nontransferable, applies only to the rental car that is the subject of the rental agreement and is limited to the following kinds of insurance:   (1) Personal accident insurance for renters and other rental car occupants for accidental death or dismemberment and for medical expenses resulting from an accident that occurs with the rental car during the rental period;   (2) Liability insurance that provides protection to the renters and other authorized drivers of a rental car for liability arising from the operation or use of the rental car during the rental period;   (3) Personal effects insurance that provides coverage to renters and other vehicle occupants for loss of, or damage to, personal effects in the rental car during the rental period;   (4) Roadside assistance and emergency sickness protection insurance; and   (5) Any other coverage designated by the superintendent; and   [PL 2015, c. 77, §3 (AMD).]M. Insurance offered, sold or solicited in connection with and incidental to the rental of covered rental equipment, as defined in section 3043, insuring against the loss of or damage to that equipment.   [PL 2015, c. 77, §4 (NEW).][PL 2021, c. 354, §3 (AMD).] 2.  Duration.  An insurance producer license remains in effect, unless revoked or suspended, as long as any applicable fee set forth in section 601 is paid and education requirements pursuant to subchapter VII for resident individual producers are met by the due date.   [PL 2001, c. 259, §24 (NEW).] 3.  Lapse.  An individual insurance producer whose license lapses may, within 12 months, reinstate the same license without the necessity of passing a written examination.   [PL 2001, c. 259, §24 (NEW).] 4.  Waiver.  A licensed insurance producer who is unable to comply with license continuation procedures due to military service or some other extenuating circumstance, such as a long-term medical disability, may request a waiver of those procedures. The producer may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with continuation procedures.   [PL 2001, c. 259, §24 (NEW).] 5.  Contents.  The license must contain the licensee's name, address, personal identification number, the date of issuance, the lines of authority and any other information required by the superintendent.   [PL 2001, c. 259, §24 (NEW).] 6.  Change of name or address.  A licensee shall inform the superintendent by any means acceptable to the superintendent of a change of address within 30 days of the change. Failure to timely inform the superintendent of a change in legal name or address results in a penalty pursuant to section 601.   [PL 2001, c. 259, §24 (NEW).] 7.  Contract with other entities.  In order to assist in the performance of the superintendent's duties, the superintendent may contract with nongovernmental entities, including the National Association of Insurance Commissioners, its affiliates or subsidiaries or its successor organization, to perform any ministerial functions, including the collection of fees, related to producer licensing that the superintendent and the nongovernmental entity determine appropriate.   [PL 2001, c. 259, §24 (NEW).] SECTION HISTORY PL 2001, c. 259, §24 (NEW). PL 2005, c. 43, §2 (AMD). PL 2007, c. 51, §3 (AMD). PL 2015, c. 77, §§2-4 (AMD). PL 2015, c. 133, §2 (AMD). PL 2021, c. 354, §3 (AMD).