reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 67: MEDICARE SUPPLEMENT INSURANCE POLICIES › 24-A §5013. Notice regarding policies that are not Medicare supplement policies

§5013. Notice regarding policies that are not Medicare supplement policies
Any individual accident and sickness insurance policy or group insurance certificate, including the contract of a nonprofit hospital and medical service or health care plan issued for delivery in this State to persons eligible for Medicare, must notify insureds that the policy or certificate is not a Medicare supplement policy or certificate. The notice must be either printed on or attached to the first page of the outline of coverage delivered to insureds or, if no outline of coverage is delivered, to the first page of the policy or certificate. The notice must be in no less than 12-point type and must contain the following language:
"THIS (POLICY OR CERTIFICATE) IS NOT A MEDICARE SUPPLEMENT (POLICY OR CERTIFICATE). If you are eligible for Medicare, review the Medicare Supplement Buyer's Guide available from the company. If you have a Medicare supplement policy or major medical policy, this coverage may be more than you need. For information call the Bureau of Insurance at (toll-free phone number)."
[PL 1995, c. 570, §8 (AMD).]
This section does not apply to a Medicare supplement policy; a policy issued pursuant to a contract under the Federal Social Security Act, 42 United States Code, Section 1395, et seq., Section 1876; a disability income policy; or a policy identified in section 5001‑A, subsection 2.   [PL 1995, c. 570, §8 (AMD).]
SECTION HISTORY
PL 1991, c. 740, §13 (NEW). PL 1993, c. 154, §4 (AMD). PL 1995, c. 570, §8 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 67: MEDICARE SUPPLEMENT INSURANCE POLICIES › 24-A §5014. Additional penalties

§5014. Additional penalties
1.  Penalties.
In addition to any other applicable penalties for violations of this Title or Title 24, the superintendent may order issuers violating any provision of this chapter or any rule adopted pursuant to this chapter to:
A. Comply with the provisions of this chapter; or   [PL 1995, c. 570, §9 (NEW).]
B. Cease marketing any Medicare supplement policy or certificate in this State that is directly or indirectly related to a violation.   [PL 1995, c. 570, §9 (NEW).]
[PL 1995, c. 570, §9 (NEW).]
2.  Election of penalty options.
The superintendent may exercise any of the penalty options provided by this section, in combination or in sequence, as the superintendent considers appropriate.
[PL 1995, c. 570, §9 (NEW).]
SECTION HISTORY
PL 1995, c. 570, §9 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 67: MEDICARE SUPPLEMENT INSURANCE POLICIES › 24-A §5015. Right to repurchase (REPEALED)

§5015. Right to repurchase
(REPEALED)
SECTION HISTORY
PL 1997, c. 370, §D1 (NEW). PL 1999, c. 36, §5 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 67: MEDICARE SUPPLEMENT INSURANCE POLICIES › 24-A §5016. Notification prior to cancellation; restrictions on lapse or termination due to cognitive impairment or functional incapacity

§5016. Notification prior to cancellation; restrictions on lapse or termination due to cognitive impairment or functional incapacity
1.  Notice of cancellation.
An insurer that issues Medicare supplement policies shall provide notification to the insured person and another person, if designated by the insured, prior to cancellation of a Medicare supplement policy for nonpayment of premiums.
[PL 2011, c. 123, §4 (NEW); PL 2011, c. 123, §5 (AFF).]
2.  Right to reinstatement.
Within 90 days after cancellation, termination or lapse of coverage due to nonpayment of premium, a policyholder, a person authorized to act on behalf of the policyholder or a dependent of the policyholder covered under the policy may request reinstatement of the policy on the basis that the loss of coverage was a result of the policyholder's cognitive impairment or functional incapacity. An insurer may require a medical demonstration that the policyholder suffered from cognitive impairment or functional incapacity at the time of cancellation, termination or lapse. If the medical demonstration is waived or substantiates the existence of a cognitive impairment or functional incapacity at the time of policy cancellation to the satisfaction of the insurer, the policy must be reinstated. The medical demonstration may be at the expense of the policyholder.
A policy reinstated pursuant to this subsection must cover any loss or claim occurring from the date of the termination, cancellation or lapse and must be issued without any evidence of insurability. Within 15 days after request from an insurer, a policyholder of a policy reinstated pursuant to this subsection shall pay any unpaid premium from the date of the last premium payment at the rate that would have been in effect had the policy remained in force. If the premium is not paid as required, the policy may not be reinstated and the insurer is not responsible for claims incurred after the initial date of cancellation. If an insurer denies a request for reinstatement, the insurer shall notify the policyholder that the policyholder may request a hearing before the superintendent.
[PL 2011, c. 123, §4 (NEW); PL 2011, c. 123, §5 (AFF).]
3.  Rules.
The superintendent may adopt rules to implement the requirements of this section. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A. The requirements of this section apply to all policies and certificates executed, delivered, issued for delivery, continued or renewed in this State.
[PL 2011, c. 123, §4 (NEW); PL 2011, c. 123, §5 (AFF).]
SECTION HISTORY
PL 2011, c. 123, §4 (NEW). PL 2011, c. 123, §5 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5051-A. Required and prohibited provisions

§5051-A. Required and prohibited provisions
1.  Prohibited provisions.
A long-term care policy may not:
A. Contain coverage for skilled nursing facilities only;   [PL 1989, c. 556, Pt. B, §3 (NEW).]
B. Exclude coverage for skilled, intermediate or custodial care received by a resident of a skilled nursing or intermediate care facility;   [PL 1989, c. 556, Pt. B, §3 (NEW).]
C. Require a prior hospital stay as a condition for any policy benefits;   [PL 1989, c. 556, Pt. B, §3 (NEW).]
D. Require a prior skilled nursing facility stay as a condition for intermediate care facility benefits; or   [PL 1989, c. 556, Pt. B, §3 (NEW).]
E. Require prior institutionalization as a condition of receipt of home health care benefits.   [PL 1989, c. 556, Pt. B, §3 (NEW).]
[PL 1989, c. 556, Pt. B, §3 (NEW).]
2.  Required provisions.
A long-term care policy must provide:
A. Custodial care benefits that are at least 50% of those provided for skilled nursing care in a nursing facility provided that the benefits need not exceed usual, customary and reasonable charges;   [PL 1989, c. 556, Pt. B, §3 (NEW).]
B. Benefits for home health care services rendered by a home health care provider;   [PL 1989, c. 556, Pt. B, §3 (NEW).]
C. Home health care coverage for at least 90 visits in any continuous 12-month period during which coverage is in force; and   [PL 1989, c. 556, Pt. B, §3 (NEW).]
D. Per visit benefits for home health care services which are at least 50% of the daily benefit for skilled nursing facility confinement provided that the benefit need not exceed usual, customary and reasonable charges.   [PL 1989, c. 556, Pt. B, §3 (NEW).]
[PL 1989, c. 556, Pt. B, §3 (NEW).]
SECTION HISTORY
PL 1989, c. 556, §B3 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5051-B. Alternative policies

§5051-B. Alternative policies
1.  Innovative long-term care products permitted.
Notwithstanding section 5051‑A, an insurer, organization or plan may offer a long-term care policy, within the meaning of section 5051, subsection 1, which does not meet one or more of the requirements of section 5051‑A if the Superintendent of Insurance finds that:
A. For each requirement of section 5051‑A which is not satisfied, there is a valid reason why that requirement is inappropriate for the policy design in question;   [PL 1989, c. 556, Pt. B, §3 (NEW).]
B. The total package of benefits provided is at least as comprehensive as that required by section 5051‑A; and   [PL 1989, c. 556, Pt. B, §3 (NEW).]
C. Availability of the policy would be in the best interest of the public taking into consideration the following factors:
(1) Whether the policy accomplishes the goal of providing dependable benefits for long-term care; and
(2) Whether the plans for marketing the policy contain adequate safeguards to minimize any confusion that may be caused to consumers by the failure of the policy to fall within the established guidelines of this section.   [PL 1989, c. 556, Pt. B, §3 (NEW).]
[PL 1989, c. 556, Pt. B, §3 (NEW).]
2.  Qualifications for tax incentives.
If the superintendent finds that a policy meets the criteria of subsection 1, the superintendent, in determining whether to certify the policy for tax incentives under section 5054, shall consider the policy to comply with each of the requirements of section 5051‑A.
[PL 1989, c. 556, Pt. B, §3 (NEW).]
SECTION HISTORY
PL 1989, c. 556, §B3 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5052. Specific standards

§5052. Specific standards
1.  Standards for long-term care, home health care and nursing home care policies.
The superintendent may adopt rules to establish specific standards for policy provisions of long-term care, home health care and nursing home care policies. The standards must be in addition to and in accordance with applicable laws of this State, including chapters 33 and 35, and may include, but are not limited to:
A. Terms of renewability;   [PL 1985, c. 648, §12 (NEW).]
B. Initial and subsequent conditions of eligibility;   [PL 1985, c. 648, §12 (NEW).]
C. Nonduplication of coverage;   [PL 1985, c. 648, §12 (NEW).]
D. Probationary periods;   [PL 1985, c. 648, §12 (NEW).]
E. Benefit limitations, exceptions and reductions;   [PL 1985, c. 648, §12 (NEW).]
F. Elimination periods;   [PL 1985, c. 648, §12 (NEW).]
G. Requirements for replacement;   [PL 1985, c. 648, §12 (NEW).]
H. Recurrent confinements; and   [PL 1985, c. 648, §12 (NEW).]
I. Definition of terms.   [PL 1985, c. 648, §12 (NEW).]
[PL 1997, c. 604, Pt. D, §3 (AMD).]
2.  Prohibited policy provision.
The superintendent may adopt rules that specify prohibited provisions not otherwise specifically authorized by law that, in the opinion of the superintendent, are unjust, unfair, inequitable or unfairly discriminatory to any person insured or proposed for coverage under a long-term care, home health care or nursing home care policy.
[PL 1997, c. 604, Pt. D, §3 (AMD).]
SECTION HISTORY
PL 1985, c. 648, §12 (NEW). PL 1997, c. 604, §D3 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5052-A. Trial examination period

§5052-A. Trial examination period
Nursing home care, home health care and long-term care policies must have a notice prominently printed on the first page of the policy or certificate or attached to the first page stating in substance that the applicant has the right to return the policy or certificate within 30 days of its delivery and to have the premium refunded if for any reason, after examination of the policy or certificate, the applicant is not satisfied.   [PL 1997, c. 604, Pt. D, §4 (AMD).]
SECTION HISTORY
PL 1991, c. 200, §C1 (NEW). PL 1997, c. 604, §D4 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5053. Rulemaking, disclosure standards, compensation

§5053. Rulemaking, disclosure standards, compensation
The superintendent may adopt reasonable rules to provide for the full and fair disclosure of information in connection with the sale of long-term care, home health care and nursing home care policies, including, but not limited to, an outline of coverage requirements and requirements relating to the replacement sale of the policies and compensation or commission to an agent or representative for the sale of a nursing home care, home health care or long-term care policy or certificate.   [PL 1997, c. 604, Pt. D, §5 (AMD).]
The superintendent may adopt reasonable rules setting or limiting the rate of compensation or commission to an agent or other representative for the sale of a nursing home care, home health care or long-term care policy or certificate and regarding replacement sale of a nursing home care, home health care or long-term care policy or certificate.   [PL 1997, c. 604, Pt. D, §5 (AMD).]
SECTION HISTORY
PL 1985, c. 648, §12 (NEW). PL 1991, c. 200, §C2 (AMD). PL 1997, c. 604, §D5 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5054. Certification by superintendent

§5054. Certification by superintendent
1.  Filing of form.
Any insurer, nonprofit hospital or medical service organization, or nonprofit health care plan may, at the time it files a policy or contract for approval for issuance or delivery in the State, or at any time thereafter, request that the superintendent certify the policy or contract as a long-term care policy within the meaning of section 5051.
Within 60 days of receipt of a request for certification, the superintendent shall:
A. Certify in writing that the policy or contract complies with this section;   [PL 1989, c. 556, Pt. B, §4 (NEW).]
B. Deny the request in writing, stating the reasons for denial; or   [PL 1989, c. 556, Pt. B, §4 (NEW).]
C. Notify the insurer or nonprofit hospital or medical service organization or nonprofit health care plan, in writing, that an insufficient basis exists for determining whether a certification should be made, indicating in what respects the request was insufficient.   [PL 1997, c. 604, Pt. D, §6 (AMD).]
[PL 1997, c. 604, Pt. D, §6 (AMD).]
2.  Standards for compliance.
The superintendent shall certify a policy or contract submitted for review under this section as a long-term care policy if the superintendent finds that the policy or contract:
A. Is a long-term care policy within the meaning of section 5051; and   [PL 1989, c. 556, Pt. B, §4 (NEW).]
B. Complies with all standards applicable to long-term care policies as set forth in this chapter and in chapters 27, 33 and 35 and in rules adopted pursuant to any of those chapters by the superintendent. Waivers granted under the rules shall be taken into consideration.   [PL 1989, c. 556, Pt. B, §4 (NEW).]
[PL 1989, c. 556, Pt. B, §4 (NEW).]
SECTION HISTORY
PL 1989, c. 556, §B4 (NEW). PL 1997, c. 604, §D6 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5055. Tax incentives available

§5055. Tax incentives available
1.  Reduced premium tax.
Any insurance company choosing to offer an insurance policy which is certified by the superintendent as a long-term care policy shall qualify for the reduced tax on premiums collected under Title 36, section 2513.
[PL 1989, c. 556, Pt. B, §4 (NEW).]
2.  Income tax reduction.
Any person paying premiums for a policy or contract which is certified by the superintendent as a long-term care policy shall qualify for the income tax deduction provided for in Title 36, section 5122.
[PL 1989, c. 556, Pt. B, §4 (NEW).]
3.  Credit for employers.
An employer providing long-term care benefits to its employees may qualify for the tax credit provided by Title 36, section 2525‑A or 5217‑C.
[PL 2017, c. 170, Pt. G, §1 (AMD).]
4.  Life insurance riders.
With respect to life insurance riders that qualify as long-term care policies, the tax incentives provided by this section shall apply only to that portion of the premium attributable to the rider.
[PL 1989, c. 556, Pt. B, §4 (NEW).]
5.  Provision of records.
Any person who holds a group long-term care policy pursuant to or under which premiums are paid in whole or in part by certificate holders or other 3rd parties shall provide to those certificate holders or 3rd parties adequate and timely records to enable those persons to have knowledge of the tax reduction to which they may be entitled under subsection 2 and under Title 36, section 5122.
[PL 1989, c. 556, Pt. B, §4 (NEW).]
SECTION HISTORY
PL 1989, c. 556, §B4 (NEW). PL 2017, c. 170, Pt. G, §1 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5056. Standards for marketing

§5056. Standards for marketing
Every insurer, health care service plan or other entity marketing nursing home care, home health care or long-term care insurance coverage in this State, directly or through its producers, shall:   [PL 1997, c. 604, Pt. D, §7 (AMD).]
1.  Policy comparison.
Establish marketing procedures to ensure that any comparison of policies by its agents or other producers is fair and accurate;
[PL 1991, c. 200, Pt. C, §3 (NEW).]
2.  Excessive insurance.
Establish marketing procedures to ensure that excessive insurance is not sold or issued. The procedures must include a specific standard for persons covered by Medicaid;
[PL 1991, c. 200, Pt. C, §3 (NEW).]
3.  Replacement policy.
Establish marketing procedures that set forth a mechanism or formula for determining whether a replacement policy or certificate contains benefits clearly and substantially greater than the benefits under the replaced policy; and
[PL 1991, c. 200, Pt. C, §3 (NEW).]
4.  Compliance procedures.
Establish auditable procedures for verifying compliance with the standards set out in this section.
[PL 1991, c. 200, Pt. C, §3 (NEW).]
SECTION HISTORY
PL 1991, c. 200, §C3 (NEW). PL 1997, c. 604, §D7 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68: NURSING HOME CARE AND LONG-TERM CARE INSURANCE POLICIES › 24-A §5057. Applicability

§5057. Applicability
This chapter applies only to policies and certificates issued before January 1, 2000.   [PL 1999, c. 292, §1 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5071. Scope

§5071. Scope
This chapter applies to long-term care insurance policies or certificates delivered or issued for delivery in this State on or after January 1, 2000, except it does not apply to certificates issued under policies issued in other states to employer groups as described in section 2804 and labor union groups as described in section 2805. This chapter is not intended to supersede the obligations of entities subject to this chapter to comply with the substance of other applicable insurance laws to the extent that these laws are not inconsistent with the requirements of this chapter, except that laws and rules designed and intended to apply to Medicare supplement insurance may not be applied to long-term care insurance. Notwithstanding this chapter, any product advertised, marketed or offered as long-term care insurance is subject to this chapter.   [PL 1999, c. 292, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5073. Extraterritorial jurisdiction; group long-term care insurance

§5073. Extraterritorial jurisdiction; group long-term care insurance
1.  Groups other than employer, union, trustee and association groups.
A group long-term care insurance policy may not be offered to a resident of this State under a group policy issued in another state to a group other than an employer group as described in section 2804, a labor union group as described in section 2805, a trustee group as described in section 2806 or an association group as described in section 2805‑A unless the superintendent has made a determination that the requirements of this chapter have been met.
[PL 1999, c. 292, §2 (NEW).]
2.  Trustee groups.
Group long-term care insurance may not be offered to an employee of an employer covered under a group policy issued in another state to a trustee group as described in section 2806 if a plurality of the employer's employees are based in this State unless the superintendent has made a determination that the requirements of this chapter have been met.
[PL 1999, c. 292, §2 (NEW).]
3.  Association groups.
The following applies to group long-term care insurance coverage issued to association groups.
A. Group long-term care insurance coverage may not be offered to a resident of this State under a group policy issued in another state to an association group as described in section 2805‑A, other than an association of employers, unless the superintendent has made a determination that the requirements of this chapter have been met.   [PL 1999, c. 292, §2 (NEW).]
B. Group long-term care insurance may not be offered to an employee of an employer covered under a group policy issued in another state to an association of employers if a plurality of the employer's employees are based in this State unless the superintendent has made a determination that the requirements of this chapter have been met.   [PL 1999, c. 292, §2 (NEW).]
[PL 1999, c. 292, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5075-A. Certification by superintendent

§5075-A. Certification by superintendent
1.  Filing of form.
An insurer, nonprofit hospital or medical service organization or nonprofit health care plan may request, at the time it files a policy or contract for approval for issuance or delivery in the State or at any time thereafter, that the superintendent certify the policy or contract as a long-term care insurance policy.
[PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
2.  Determination.
Within 60 days after receipt of a request for certification, the superintendent shall in writing:
A. Certify that the policy or contract complies with this section;   [PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
B. Deny the request and state the reasons for the denial; or   [PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
C. Notify the insurer, nonprofit hospital or medical service organization or nonprofit health care plan that an insufficient basis exists for determining whether a certification should be made and indicate the nature of the insufficiency.   [PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
[PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
3.  Standards for compliance.
The superintendent shall certify a policy or contract submitted for review under this section as a long-term care insurance policy if the superintendent finds that the policy or contract complies with all the standards applicable to long-term care policies set forth in this chapter and in chapters 27, 33 and 35 and rules adopted pursuant to those chapters by the superintendent. Waivers granted under the rules must be taken into consideration.
[PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
SECTION HISTORY
PL 2001, c. 679, §1 (NEW). PL 2001, c. 679, §6 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5076. Incontestability period

§5076. Incontestability period
1.  Policies or certificates in effect for less than 6 months.
For a policy or certificate that has been in effect for less than 6 months, an insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim upon a showing of misrepresentation that was material to the acceptance for coverage.
[PL 1999, c. 292, §2 (NEW).]
2.  Policies or certificates in effect for more than 6 months but less than 2 years.
For a policy or certificate that has been in effect for at least 6 months but less than 2 years, an insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim upon a showing of misrepresentation that was both material to the acceptance for coverage and that pertains to the condition for which benefits are sought.
[PL 1999, c. 292, §2 (NEW).]
3.  Policies or certificates in effect for 2 years or more.
After a policy or certificate has been in effect for at least 2 years, the policy or certificate may not be contested upon the grounds of misrepresentation alone. The policy or certificate may be contested only upon a showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured's health.
[PL 1999, c. 292, §2 (NEW).]
4.  Field-issued policies or certificates.
A long-term care insurance policy or certificate may not be field-issued if the compensation to the field issuer is based on the number of policies or certificates issued. For the purposes of this subsection, "field-issued" means a policy or certificate issued by a producer or a 3rd-party administrator pursuant to the underwriting authority granted to the producer or 3rd-party administrator by an insurer using the insurer's underwriting guidelines.
[PL 2007, c. 232, §1 (AMD).]
5.  Recovery of benefit payments by the insurer.
If an insurer has paid benefits under the long-term care insurance policy or certificate, the benefit payments may not be recovered by the insurer if the policy or certificate is rescinded.
[PL 1999, c. 292, §2 (NEW).]
6.  Death of the insured.
Upon the death of the insured, this section does not apply to the remaining death benefit of a life insurance policy that accelerates benefits for long-term care and the remaining death benefits under these policies are governed by sections 2507 and 2615 relating to the incontestability requirements for individual and group life insurance. In all other events, this section applies to life insurance policies that accelerate benefits for long-term care.
[PL 1999, c. 292, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW). PL 2007, c. 232, §1 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5077. Nonforfeiture benefits

§5077. Nonforfeiture benefits
1.  Offer required.
Except as provided in subsection 2, a long-term care insurance policy or certificate may not be delivered or issued for delivery in this State unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate that includes a nonforfeiture benefit. The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy. If the policyholder or certificate holder declines the nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that must be made available for a specified period of time following a substantial increase in premium rates.
[PL 1999, c. 292, §2 (NEW).]
2.  Group policyholders.
When a group long-term care insurance policy is issued, the offer required in subsection 1 must be made to the group policyholder. If the group long-term care insurance policy is issued to a group described in section 2808 other than to a continuing care retirement community or other similar entity, the offer must be made to each proposed certificate holder.
[PL 1999, c. 292, §2 (NEW).]
3.  Rules.
The superintendent shall adopt rules specifying the type or types of nonforfeiture benefits to be offered as part of long-term care insurance policies and certificates, the standards for nonforfeiture benefits and the standards regarding contingent benefit upon lapse, including a determination of the specified period of time during which a contingent benefit upon lapse is available and the substantial premium rate increase that triggers a contingent benefit upon lapse as described in subsection 1. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter II‑A.
[PL 1999, c. 292, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5078. Rulemaking

§5078. Rulemaking
The superintendent shall adopt rules to promote premium adequacy, to protect a policyholder and a certificate holder in the event of substantial rate increases and to establish minimum standards for marketing practices, insurance producer compensation, insurance producer education, insurance producer testing, penalties and reporting practices for long-term care insurance. Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A.   [PL 2007, c. 232, §2 (AMD).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW). PL 2007, c. 232, §2 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5079. Penalties

§5079. Penalties
In addition to any other penalties provided by this Title or the laws of this State, an insurer or insurance producer that violates any requirement of this chapter or rule adopted pursuant to this chapter relating to the regulation of long-term care insurance or the marketing of such insurance is subject to a fine of up to the greater of 3 times the amount of commissions paid for each policy involved in the violation or $10,000.   [PL 1999, c. 292, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5080. Applicability

§5080. Applicability
This chapter applies to long-term care policies and certificates issued or delivered in this State on or after January 1, 2000. Policies and certificates issued prior to January 1, 2000 and remaining in effect on that date are subject to the requirements of chapter 68. Those policies and any certificates issued pursuant to those policies prior to January 1, 2000 continue in effect subsequent to the enactment of this chapter.   [PL 1999, c. 292, §2 (NEW).]
All certificates of coverage issued or delivered to residents of this State after January 1, 2000 must meet the requirements of this chapter and any rules adopted pursuant to this chapter, except that long-term care policies or certificates issued pursuant to a provision included in a policy approved in accordance with chapter 68 giving a policyholder or certificate holder a right to purchase or increase coverage at a later date may be issued with benefits consistent with chapter 68 after January 1, 2000.   [PL 1999, c. 292, §2 (NEW).]
SECTION HISTORY
PL 1999, c. 292, §2 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 68-A: LONG-TERM CARE INSURANCE › 24-A §5084. Notice to policyholders of rate increase

§5084. Notice to policyholders of rate increase
1.  Notice.
An insurer shall notify a policyholder of a long-term care insurance policy issued in accordance with this chapter or chapter 68 of a proposed premium rate increase that affects the policyholder no later than 30 days after the filing by the insurer of the premium rate increase. An insurer shall provide written notice by first-class mail to the last known mailing address of all affected individual and group policyholders and others who are directly billed for group coverage. The notice must:
A. Show the proposed rate;   [PL 2019, c. 25, §1 (NEW).]
B. State that the rate is subject to regulatory approval;   [PL 2019, c. 25, §1 (NEW).]
C. Inform a policyholder of the policyholder's right to request a hearing pursuant to section 229;   [PL 2019, c. 25, §1 (NEW).]
D. Inform a policyholder of the policyholder's right to provide written comments on the proposed rate increase to the bureau; and   [PL 2019, c. 25, §1 (NEW).]
E. Provide to the policyholder contact information for the bureau, including the bureau's toll-free telephone number.   [PL 2019, c. 25, §1 (NEW).]
[PL 2019, c. 25, §1 (NEW).]
2.  Implementation of rate increase.
An increase in a premium rate may not be implemented until approved by the bureau or until the effective date of the premium rate increase, whichever is later.
[PL 2019, c. 25, §1 (NEW).]
SECTION HISTORY
PL 2019, c. 25, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6001. Short title (REPEALED)

§6001. Short title
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6002. Definitions (REPEALED)

§6002. Definitions
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6003. Risk retention groups organized in this State (REPEALED)

§6003. Risk retention groups organized in this State
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6004. Risk retention groups not chartered in this State (REPEALED)

§6004. Risk retention groups not chartered in this State
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6005. Agents and brokers (REPEALED)

§6005. Agents and brokers
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6006. Taxes (REPEALED)

§6006. Taxes
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6007. Restrictions (REPEALED)

§6007. Restrictions
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6008. Exemption from compulsory associations (REPEALED)

§6008. Exemption from compulsory associations
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6009. Examination for financial impairment (REPEALED)

§6009. Examination for financial impairment
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6010. Delinquency proceedings (REPEALED)

§6010. Delinquency proceedings
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6011. Penalties (REPEALED)

§6011. Penalties
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 69: MAINE PRODUCT LIABILITY RISK RETENTION ACT (REPEALED) › 24-A §6012. Rules (REPEALED)

§6012. Rules
(REPEALED)
SECTION HISTORY
PL 1985, c. 524, §5 (NEW). PL 1987, c. 481, §2 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6051. Definitions (REPEALED)

§6051. Definitions
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1989, c. 308, §1 (AMD). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6052. Creation of the organization and board of directors (REPEALED)

§6052. Creation of the organization and board of directors
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1989, c. 308, §2 (AMD). PL 1991, c. 528, §Q5 (AMD). PL 1991, c. 528, §RRR (AFF). PL 1991, c. 578, §1 (AMD). PL 1991, c. 591, §Q5 (AMD). PL 1991, c. 837, §§A51,52 (AMD). PL 1991, c. 837, §A85 (AFF). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6053. Duties of the board of directors; reporting requirements (REPEALED)

§6053. Duties of the board of directors; reporting requirements
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1991, c. 578, §2 (AMD). PL 1991, c. 837, §§A53-55 (AMD). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6054. The authority of the organization (REPEALED)

§6054. The authority of the organization
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6055. Program administrator (REPEALED)

§6055. Program administrator
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1989, c. 308, §3 (AMD). PL 1991, c. 578, §3 (AMD). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6056. Assessments (REPEALED)

§6056. Assessments
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). RR 1993, c. 1, §68 (COR). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6057. Eligibility (REPEALED)

§6057. Eligibility
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1989, c. 308, §4 (AMD). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6058. Benefits (REPEALED)

§6058. Benefits
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1989, c. 875, §H1 (AMD). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6058-A. Employer responsibilities (REPEALED)

§6058-A. Employer responsibilities
(REPEALED)
SECTION HISTORY
PL 1991, c. 877, §1 (NEW). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6059. Premiums (REPEALED)

§6059. Premiums
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1991, c. 578, §4 (AMD). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6059-A. Community rating (REPEALED)

§6059-A. Community rating
(REPEALED)
SECTION HISTORY
PL 1991, c. 578, §5 (NEW). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6060. Duty of health insurance agents and brokers or insurers (REPEALED)

§6060. Duty of health insurance agents and brokers or insurers
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1993, c. 410, §R3 (RP). PL 1993, c. 410, §R4 (AFF).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 71: MAINE HIGH-RISK INSURANCE ORGANIZATION (REPEALED) › 24-A §6061. Sunset provision (REPEALED)

§6061. Sunset provision
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1989, c. 875, §H2 (AMD). PL 1991, c. 837, §A56 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72: SPECIAL SELECT COMMISSION ON ACCESS TO HEALTH CARE (REPEALED) › 24-A §6071. Commission established (REPEALED)

§6071. Commission established
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1991, c. 622, §L10 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72: SPECIAL SELECT COMMISSION ON ACCESS TO HEALTH CARE (REPEALED) › 24-A §6072. Membership; appointment; duties (REPEALED)

§6072. Membership; appointment; duties
(REPEALED)
SECTION HISTORY
PL 1987, c. 542, §§H5,H8 (NEW). PL 1991, c. 622, §L10 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72-A: MAINE LIABILITY RISK RETENTION ACT › 24-A §6091. Short title

§6091. Short title
This chapter shall be known and may be cited as the Maine Liability Risk Retention Act.   [PL 1987, c. 481, §3 (NEW).]
SECTION HISTORY
PL 1987, c. 481, §3 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72-A: MAINE LIABILITY RISK RETENTION ACT › 24-A §6092. Purpose

§6092. Purpose
The purpose of this Act is to regulate the formation and operation of risk retention groups and purchasing groups in this State formed pursuant to the provisions of the Risk Retention Amendments of 1986, United States Code, Title 15, Section 3901, et seq., to the extent permitted by that law.   [PL 1987, c. 481, §3 (NEW).]
SECTION HISTORY
PL 1987, c. 481, §3 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72-A: MAINE LIABILITY RISK RETENTION ACT › 24-A §6094. Risk retention groups chartered in this State

§6094. Risk retention groups chartered in this State
A risk retention group shall be chartered and authorized, pursuant to the provisions of this title, as a liability insurer to write only liability insurance pursuant to this Act and, except as provided elsewhere in this Act, must comply with all the laws, rules and requirements applicable to insurers chartered and licensed in this State and with section 6095 to the extent these requirements are not a limitation on laws, rules or requirements of this State. Before it may offer insurance in any state, each risk retention group shall also submit for approval to the superintendent a plan of operation or a feasibility study and revisions of that plan or study if the group intends to offer any additional lines of liability insurance. The group shall not offer any additional kinds of liability insurance in this State or in any other state, until a revision of such plan or study is approved by the superintendent.   [PL 1987, c. 481, §3 (NEW).]
In addition to other requirements for licensure, the risk retention group shall, at the time of filing its application for license, provide to the superintendent in summary form the following information: The identity of the initial members of the group, the identity of those individuals who organized the group or who will provide administrative services or otherwise influence or control the activities of the group, the amount, source and nature of initial capitalization, the coverages to be afforded, and the states in which the group intends to operate. Upon receipt of the information the superintendent shall forward it to the National Association of Insurance Commissioners. This notification shall not be deemed to satisfy other requirements of this chapter.   [PL 1987, c. 481, §3 (NEW).]
SECTION HISTORY
PL 1987, c. 481, §3 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72-A: MAINE LIABILITY RISK RETENTION ACT › 24-A §6096. Compulsory associations

§6096. Compulsory associations
1.  Financial contribution.
No risk retention group may be required or permitted to join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in this State, nor may any risk retention group or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by the risk retention group.
[PL 1987, c. 481, §3 (NEW).]
2.  Insurer not authorized.
When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this State or a risk retention group, these risks, wherever resident or located, shall not be covered by any insurance guaranty fund or similar mechanism in this State.
[PL 1987, c. 481, §3 (NEW).]
3.  Authorized insurer.
When a purchasing group obtains insurance covering its members' risks from an insurer authorized in this State, only risks resident or located in this State shall be covered by the Maine Insurance Guaranty Association subject to chapter 57, subchapter III.
[PL 1987, c. 481, §3 (NEW).]
SECTION HISTORY
PL 1987, c. 481, §3 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72-A: MAINE LIABILITY RISK RETENTION ACT › 24-A §6097. Purchasing groups; exemption from certain laws relating to the group purchase of insurance

§6097. Purchasing groups; exemption from certain laws relating to the group purchase of insurance
Any purchasing group meeting the criteria established under the provisions of the federal Liability Risk Retention Amendments of 1986 is exempt from any law of this State relating to the creation of groups for the purchase of insurance, prohibition of group purchasing or any law that discriminates against a purchasing group or its members. In addition, an insurer is exempt from any law of this State that prohibits providing, or offering to provide, to a purchasing group or its members advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages or other matters. A purchasing group and any insurer that provides coverage to a purchasing group with Maine members are subject to all other applicable laws of this State, including, but not limited to, chapters 25, 27 and 39.   [RR 1991, c. 2, §93 (COR).]
SECTION HISTORY
PL 1987, c. 481, §3 (NEW). PL 1989, c. 724, §1 (AMD). RR 1991, c. 2, §93 (COR).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 72-A: MAINE LIABILITY RISK RETENTION ACT › 24-A §6099. Restrictions on insurance purchased by purchasing groups

§6099. Restrictions on insurance purchased by purchasing groups
1.  Purchase from risk retention group; insurer; licensed agent or broker.
A purchasing group may purchase insurance from a risk retention group that is chartered in a state or, in the case of product liability or completed operations liability coverage, that qualifies under section 6093, subsection 13, paragraph C, subparagraph (2); from an insurer admitted in this State; or from a licensed agent or broker acting pursuant to the surplus lines laws and regulations of this State.
[PL 1989, c. 724, §2 (AMD).]
2.  Notice of nonprotected risk.
A purchasing group which obtains liability insurance from an insurer not authorized in this State or a risk retention group shall inform each of the members of the purchasing group which have a risk resident or located in this State that such risk is not protected by an insurance insolvency guaranty fund in this State, and that the risk retention group or the insurer may not be subject to all insurance laws and regulations of this State.
[PL 1987, c. 481, §3 (NEW).]
3.  Prohibition on retention of risk.
A purchasing group may not purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole; however coverage may provide for a deductible or self-insured retention applicable to individual members.
[PL 1995, c. 540, §1 (AMD).]
SECTION HISTORY
PL 1987, c. 481, §3 (NEW). PL 1989, c. 724, §2 (AMD). PL 1993, c. 313, §39 (AMD). PL 1995, c. 540, §1 (AMD).