reglab/statecodes huggingface dataset:
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 540 - PREMIUM TRUST ACCOUNT FIDUCIARY DUTIES › Section 031-540-6 - PENALTIES

Current through 2024-29, July 17, 2024
In addition to any other penalties provided by the laws of
				  this State, a person who violates this Rule is subject to disciplinary action
				  pursuant to Title
				  24-A M.R.S.
				  §12-A.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 540 - PREMIUM TRUST ACCOUNT FIDUCIARY DUTIES › Section 031-540-7 - SEVERABILITY

Current through 2024-29, July 17, 2024
If any section or provision of this Rule is adjudged invalid
				  for any reason, the judgment shall not impair or invalidate any other section
				  or provision of this Rule, and the Rule shall otherwise remain in full force
				  and effect.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 540 - PREMIUM TRUST ACCOUNT FIDUCIARY DUTIES › Section 031-540-8 - EFFECTIVE DATE

Current through 2024-29, July 17, 2024
This Rule is effective April 3, 2016. Licensees shall comply
				  with this Rule within 90 days of its effective date.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-1 - Authority and Purpose

Current through 2024-29, July 17, 2024
This Rule is adopted pursuant to
				   24-A M.R.S.A.
				  §§212,
				  601(23),
				  1410(4)(A),
				  1483(2),
				  and
				  1485 to
				  establish standards and procedures for the approval and operation of courses
				  and programs through which producers and consultants may satisfy applicable
				  education requirements.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-2 - Applicability

Current through 2024-29, July 17, 2024
This Rule applies to all individuals licensed or seeking
				  licensure as insurance producers or consultants in this State and to all
				  persons offering, proposing to offer, or holding themselves out as offering
				  education courses required by this State for insurance producers and
				  consultants. Except for limited licenses for the sale of annuities, this Rule
				  does not apply to individuals holding only limited producer
				  licenses.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-3 - Definitions

Current through 2024-29, July 17, 2024
For purposes of this Rule, the following terms have the
				  following meanings:
A.
Biennium
means the period commencing on the first day of the month
				following the individual's birth month and concluding on the last day of the
				individual's birth month two years later.
B.
Compliance Date
is the
				last date of the biennium concluding in an odd year for individuals born in an
				odd year or the last date of the biennium concluding in an even year for
				individuals born in an even year.
C.
Vendor
means the individual or legal entity responsible for a
				course of instruction, whether or not a fee is charged for
				enrollment.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-4 - Minimum Educational Requirements

Current through 2024-29, July 17, 2024
A.
Continuing education.
As a condition of continued licensure,
				individuals with resident producer or consultant licenses must earn at least 24
				credit hours each biennium through satisfactory completion of courses approved
				pursuant to this Rule. Of the 24 credit hours, at least 3 must cover
				ethics.
B.
First biennium
				of licensure.
The continuing education requirement is waived for
				individuals who receive their license less than one year before their first
				compliance date.
C.
Limitations.
No credit may be earned for repeating a course previously
				taken during the same biennium. No continuing education credit may be earned
				for courses taken before the issuance of a license or for courses taken by a
				licensee to satisfy any applicable pre-licensing education requirement for an
				additional license authority. Credit hours may not be accumulated in advance
				for use in a subsequent biennium. Credit hours taken to remedy a deficiency in
				the preceding biennium do not count toward the current biennium's
				requirement.
D.
Pre-licensing education or proof of experience for producer
				applicants.
To the extent pre-licensing is required by statute,
				applicants for insurance producer licenses must present to the examination
				administrator, at the time of examination, either:
(1) A certificate or certificates issued
				pursuant to Subsection7(C) of this Rule
				demonstrating satisfactory completion of at least 16 credit hours within the
				preceding two years for each licensing authority requested; or
(2) A certificate of experience in a form
				approved by the Superintendent demonstrating sufficient work experience.
				Applicants must present verification by an employer that they have completed at
				least 6 months of relevant full-time equivalent experience within the preceding
				2 years as an employee of an insurer or producer.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-7 - Records and Certification

Current through 2024-29, July 17, 2024
A.
Record
				retention.
Vendors shall maintain accurate records of their approved
				courses, which shall be subject to inspection by the Superintendent. Records
				must include, at a minimum, the date(s) a course was given, the location where
				applicable, the students' names where applicable, license numbers of all
				students enrolled who have requested Maine education credit, and identification
				of those students who satisfactorily completed the course. Records for each
				session of instruction must be retained for at least four years after
				completion of instruction. Approved course applications and supporting
				documentation must be retained throughout the period for which a course is
				approved and for at least two years after course approval terminates, except
				that textbooks and other publications need not be physically retained by the
				vendor, if copies can be made available to the Superintendent through other
				means.
B.
Certification to
				the Superintendent.
Each vendor shall file with the Superintendent,
				within 30 days after the completion of each session of each approved course, a
				form prescribed by the Superintendent, specifying the date and the place the
				course was given. For home study courses, the vendor may file a separate form
				for each student or may consolidate information regarding students completing
				the course within the same month. The form shall list each student taking the
				course for continuing education credit by name and license number and shall
				state the number of credit hours earned. The signature of the vendor or the
				vendor's approved representative shall certify that the information submitted
				is accurate and does not duplicate any credits already reported on another
				form.
C.
Certification to
				the Student.
At the time a student successfully completes an approved
				course, the vendor or the vendor's approved representative shall issue to the
				student a signed certificate on a form, prescribed by the Superintendent,
				attesting to the number of credit hours earned. The certificate shall state the
				student's name and license number.
D.
Electronic
				Certification.
With the approval of the Superintendent, documents
				required to be filed, written, or signed pursuant to this Rule may be furnished
				in electronic form verifiable by the Superintendent.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-8 - Failure to comply with educational requirement

Current through 2024-29, July 17, 2024
A.
Civil Penalty
. Any licensee who does not complete the
				required credit hours by the compliance date shall pay a civil penalty of $25
				for each credit hour that is not completed by that date, up to a maximum of
				$250, unless the Superintendent has granted the licensee an extension of time
				for good cause shown.
B.
License Suspension
. If a licensee has not completed required credit
				hours 60 days after the compliance date, the license is subject to suspension
				for a period of 60 days.
C.
License Termination.
If a licensee remains out of compliance
				at the conclusion of a suspension period, the license will be subject to
				termination.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-9 - Violations

Current through 2024-29, July 17, 2024
A.
Enforcement.
The
				Superintendent may impose disciplinary sanctions for violations of this Rule or
				other applicable law, as provided in
				 24-AM.R.S.A.
				§§12-A,
				1417,
				and
				1420-K
				and
				10
				M. R.S.A. § 8003(5).
B.
Deceptive practices.
No person may engage in deceptive
				practices in conducting a course subject to this Rule, including but not
				limited to:
(1) Awarding course credit in
				excess of the credit hours successfully completed;
(2) Disclosing examination contents before an
				examination is given or disclosing correct answers before an examination is
				completed; or
(3) Deceptive or
				misleading advertising.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 542 - EDUCATIONAL REQUIREMENTS FOR INSURANCE PROFESSIONALS › Section 031-542-10 - Transition

Current through 2024-29, July 17, 2024
Any licensee whose compliance date, as defined in Section
				  3, falls within the calendar year 2007
				  shall be required to complete 12 credit hours by December 31, 2007, in lieu of
				  completing 24 credit hours by the licensee's regular compliance date. Failure
				  to complete 12 credit hours by December 31, 2007 will subject the licensee to
				  the procedures specified in Section
				  8. After 2007, the regular compliance
				  date and credit hour requirement calculated pursuant to this Rule will
				  apply.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 545 - PRODUCER AND BUSINESS ENTITY LICENSE AND APPOINTMENT FEES › Section 031-545-1 - Purpose and Scope

Current through 2024-29, July 17, 2024
This rule is adopted by the Superintendent pursuant to
				  24-A M.R.S.A.
				  §§212 and
				  601, to establish
				  the license and appointment fees for individual and business entity insurance
				  producers.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 545 - PRODUCER AND BUSINESS ENTITY LICENSE AND APPOINTMENT FEES › Section 031-545-2 - Applicability and specific authority

Current through 2024-29, July 17, 2024
This rule applies to resident and nonresident individual
				  producers and producer business entities subject to licensing under
				   24-A M.R.S.A.
				  §§1413 and
				  1420-B, and any
				  insurer, as defined at
				   24-A M.R.S.A.
				  §1420-A(5), which
				  appoints any individual or business entity producer licensee to act as its
				  agent in this State as specified at
				   24-A M.R.S.A.
				  §1420-M.
Title
				  24-A M.R.S.A.
				  §601(5) sets forth the
				  maximum license and appointment fees applicable to producers unless the
				  Superintendent establishes a different amount by rule, which may not exceed the
				  statutory cap.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 545 - PRODUCER AND BUSINESS ENTITY LICENSE AND APPOINTMENT FEES › Section 031-545-4 - Severability

Current through 2024-29, July 17, 2024
If any section, term, provision, or application of this rule
				  is adjudged invalid for any reason, such judgment shall not impair or
				  invalidate any other section, term, provision, or application, and the
				  remainder of this rule shall continue in full force and
				  effect.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 545 - PRODUCER AND BUSINESS ENTITY LICENSE AND APPOINTMENT FEES › Section 031-545-5 - Effective Date

Current through 2024-29, July 17, 2024
This original effective date of this rule was February 28,
				  2007. The 2013 amendments are effective November 14, 2013. The 2016 amendments
				  are effective February 13, 2016.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-1 - Purpose

Current through 2024-29, July 17, 2024
Certain employers seek to gain an unfair competitive
				  advantage by paying for workers' compensation insurance at out-of-state premium
				  rates for activities conducted in Maine and subject to Maine workers'
				  compensation law. Insurers share in the responsibility to protect the integrity
				  of the workers' compensation system from such abuses, and are under a
				  continuing duty to exercise due diligence in auditing their clients. Although
				  Maine is an open-competitive rating state, each insurer is required to file its
				  rates and rating plans with the Superintendent for approval, and those rates
				  may not discriminate unfairly between similar risks.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-2 - Authority

Current through 2024-29, July 17, 2024
The Superintendent adopts this Rule pursuant to
				   24-A M.R.S.A.
				  §§212 and
				  2151-B, for the purpose of
				  enforcing the prohibitions against unfair insurance practices set forth in
				   24-A M.R.S.A.
				  §§2152,
				  2162(2),
				  and
				  2178,
				  and the reporting requirements set forth in
				   24-A M.R.S.A.
				  §§2384-B and
				  2384-C and 39-A
				  M.R.S.A. § 357. This Rule shall be enforced as provided in
				   24-A M.R.S.A.
				  §§12-A and
				  2387.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-3 - Scope

Current through 2024-29, July 17, 2024
This Rule applies to any insurance policy used to satisfy an
				  employer's obligation to secure workers' compensation payment under
				  
				  39-A M.R.S.A. §403(1),
				  whether Maine coverage is expressly stated in the terms of the policy or
				  provided only on an incidental basis, except where the reciprocity provisions
				  of
				  39-A M.R.S.A.
				  §113 apply.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-4 - Definitions

Current through 2024-29, July 17, 2024
"Policy, insurer and employer" refer to any workers'
				  compensation insurance policy within the scope of this Rule and to the parties
				  to that policy.
"Maine exposure" means all business activity covered by the
				  policy that is subject to Maine workers' compensation law and not
				  simultaneously subject to a law of some other state that would permit the
				  insurer to charge a higher workers' compensation premium.
"Maine rate" means the premium rate filed by the insurer and
				  approved by the Maine Superintendent of Insurance for use for the risks covered
				  by the policy.
. "Rating Plan" means a plan approved by the Maine
				  Superintendent of Insurance which allows for a schedule of credits or debits
				  based upon risk factors which are not reflected in an insurer's manual rates or
				  an employer's experience modification factor.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-5 - Apportionment of premium

Current through 2024-29, July 17, 2024
If the policy also covers risks other than Maine exposure,
				  its premium shall be calculated as follows:
(a) all Maine exposure must be accurately
				measured and subject to a separately itemized charge calculated on the basis of
				the Maine rate; and
(b) the
				remainder of the premium must be calculated in a manner that is reasonably
				designed to reflect the employer's exposure under the worker's compensation
				laws of other states, and that does not have the effect of avoiding the intent
				of this Rule.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-6 - Penalties against employers

Current through 2024-29, July 17, 2024
It is a false representation within the meaning of
				   24-A M.R.S.A.
				  §2178 for the employer to fail to make
				  an accurate report of its Maine exposure to the insurer. For each violation of
				  this section, subject to the limitations of
				   24-A M.R.S.A.
				  §12-A(1), the
				  Superintendent shall assess a civil penalty no less than three times any
				  underpayment of premium resulting from the violation, and shall take whatever
				  further enforcement action is warranted by the violation.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-7 - Penalties against insurers

Current through 2024-29, July 17, 2024
It is a violation of
				   24-A M.R.S.A
				  §2382, an unfair trade practice, and an
				  unfair method of competition for the insurer, knowingly or negligently:
(a) to use a workers' compensation rate
				unless the rate has been filed with the Superintendent for approval ;
(b) to use a workers' compensation rate after
				it has been disapproved by the Superintendent; or
(c) to refuse to submit information requested
				by the Superintendent as part of the approval process.
For each violation of this section, subject to the
				  limitations of
				   24-A M.R.S.A.
				  §2387, the Superintendent shall assess a
				  civil penalty no less than three times the difference between the approved
				  Maine rate and the unauthorized rate used by the insurer, and shall take
				  whatever further enforcement action is warranted by the violation.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-8 - Each day a separate violation

Current through 2024-29, July 17, 2024
If the use of an unauthorized rate results in a violation of
				  section
				  6 or
				  7 of this Rule, each day that the
				  unauthorized rate is in use gives rise to a separate violation.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-9 - Severability

Current through 2024-29, July 17, 2024
If any section, term, provision, or application of this Rule
				  shall be adjudged invalid for any reason, such judgment shall not impair or
				  invalidate any other section, term, provision, or application, and the
				  remainder of this Rule shall continue in full force and effect.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS › Section 031-550-10 - Effective date

Current through 2024-29, July 17, 2024
The effective date of this Rule is February 25, 1998.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-1 - Purpose

Current through 2024-29, July 17, 2024
The purpose of this rule is to ensure that an employer who
				  leases some or all of its workers properly obtains workers' compensation
				  insurance coverage for all of its employees, including those leased from
				  another entity, and that premium commensurate with exposure and anticipated
				  claim experience is paid.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-2 - Authority

Current through 2024-29, July 17, 2024
History. -- Effective. 10-1-92.
History. -- Statutory Authority.--24-A M.R.S.A.
§§ 212, 2178, 2364, and 2366; 32 M.R.S.A.
§ 14055(2).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-3 - Definitions

Current through 2024-29, July 17, 2024
A. "Employee leasing arrangement" means an
				arrangement, under contract or otherwise, whereby one business or other entity
				leases all or a significant number of its workers from another business.
				Employee leasing arrangements include, but are not limited to, full service
				employee leasing arrangements, long-term temporary arrangements, and any other
				arrangement which involves the allocation of employment responsibilities among
				two or more entities. For purposes of this rule employee leasing arrangement
				does not include arrangements whereby an organization hires its own employees
				and assigns them to clients for a finite period of time to support or
				supplement the client's work force in special work situations such as employee
				absences, temporary skill shortages and seasonal workloads.
B. "Leased employee" means a person
				performing services for a lessee under an employee leasing
				arrangement.
C. "Lessee" means an
				entity which obtains all or part of its work force from another entity through
				an employee leasing arrangement or which employs the services of an entity
				through an employee leasing arrangement.
D. "Lessor" means an entity that grants an
				oral or written lease to a lessee through an employee leasing arrangement. In
				this rule, the lessor may also be referred to as an employee leasing
				company.
E. "Multiple coordinated
				policies basis" means -
(1) The following:
(a) Each lessee shall have its own policy
				covering its leased employees required to be covered pursuant to the laws of
				this state;
(b) If non-leased
				employees of a lessee are not provided coverage pursuant to a separate policy
				or pursuant to 39 M.R.S.A. §23, subsections 2 thru 11, they shall be
				included on the policy required by subsection (a) above;
				and
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-4 - Eligibility for policy issuance and continuance

Current through 2024-29, July 17, 2024
A.
				Basic Rule.
Except as provided in Subsection B, a lessee, not authorized
				  to self-insure pursuant to 39 M.R.S.A. §23, shall fulfill its statutory
				  responsibility to secure benefits under the Workers' Compensation Act by
				  purchasing and maintaining a standard workers' compensation policy approved by
				  the Superintendent of Insurance. The exposure and experience of the lessee
				  shall be used in determining the premium for policy.
B. Exceptions
A lessor which obtains coverage in the voluntary workers'
				  compensation market and is registered with the Superintendent of Insurance,
				  pursuant to
				   32 M.R.S.A.
				  §14052, may, with the voluntary market
				  insurer's knowledge and consent, elect to secure the coverage on leased
				  employees through a standard workers' compensation policy issued to the lessor.
				  The insurer of the lessor may take all reasonable steps to ascertain exposure
				  under the policy and collect the appropriate premium through the following
				  procedures:
(1) Complete description
				of lessor's operations;
(2)
				Periodic reporting of covered lessee's payroll, classifications, experience
				rating modification factors, and jurisdictions with exposure. This reporting
				may be supplemented by a requirement to submit to the carrier Internal Revenue
				Service Form 941 or equivalent form on a quarterly basis.
(3) Audit of lessor's operations;
				and
(4) Any other reasonable
				measures to determine the appropriate premium.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-5 - Policy cancellation or nonrenewal

Current through 2024-29, July 17, 2024
A. Grounds
				for Cancellation and Nonrenewal.
In addition to any statutory grounds that may exist, any
				  violation of this rule is grounds for cancellation or nonrenewal provided that
				  the employee leasing company or, if appropriate, the lessee, has been provided
				  a reasonable opportunity to cure the violation.
B. Notice to Lessees.
If an employee leasing company has received notice that its
				  workers' compensation insurance policy issued on a master policy basis will be
				  canceled or nonrenewed, the leasing company shall notify by certified mail,
				  within fifteen (15) days of the receipt of the notice, all of the lessees for
				  which there is an employee leasing arrangement covered under the to-be-canceled
				  policy.
If one or more workers compensation insurance policies issued
				  with respect to one or more lessees are to be canceled or nonrenewed, the
				  insurer or service carrier shall give any required notice to the lessor and to
				  each affected lessee.
C.
				Experience Modification Factor Following Termination.
(1) Lessee covered on a multiple coordinated
				basis.
In the event that an employee leasing arrangement with a
				  lessee is terminated, the lessee shall be assigned an experience modification
				  factor which reflects its experience during the experience period specified by
				  the approved experience rating plan, including, if applicable, experience
				  incurred for leased employees under the employee leasing arrangements.
(2) Lessee covered on a master
				policy basis.
In the event that an employee leasing arrangement with a
				  lessee is terminated and the experience of the lessee is commingled with that
				  of other clients on a lessors master policy, then the experience of the lessee
				  shall be developed and reported by the insurer, to the extent possible, for use
				  in development of an experience modification factor for the lessee. If suitable
				  payroll and loss experience is not reported, then the lessors experience
				  modification factor will apply to the lessee for up to three years (3) or until
				  such time as the lessee qualifies for development of its own experience
				  modification factor.
(3)
				Notice Required
An employee leasing company shall notify its insurer or
				  service carrier 30 days prior to the effective date of termination or
				  immediately upon notification of cancellation by a lessee of an employee
				  leasing arrangement with a lessee in order to allow sufficient time to
				  calculate an experience modification factor for the lessee.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-6 - Lessee's obligation

Current through 2024-29, July 17, 2024
A. Nothing in this
				rule shall have any effect on the statutory obligation, if any, of a lessee to
				secure workers' compensation coverage for employees not provided, supplied, or
				maintained by a lessor pursuant to employee leasing arrangement.
B.
(1) A
				lessee shall not be eligible for coverage pursuant to a workers' compensation
				insurance policy issued to a lessor if the lessee owes its current or a prior
				insurer any premium for workers' compensation insurance, except premium subject
				to dispute.
(2) A lessee shall not
				be eligible for coverage pursuant to a workers' compensation policy under a
				multiple coordinated policy basis in the residual market if the lessee owes its
				current or a prior insurer any premium for workers' compensation insurance
				except premium subject to dispute.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-7 - Insurer or service carrier audit

Current through 2024-29, July 17, 2024
All insurers shall audit any policy issued pursuant to
				  Section
				  4 of this rule within 90 days of the
				  policy effective date and may conduct quarterly audits thereafter. The purpose
				  of the audit will be to determine whether all classifications, experience
				  modification factors, and estimated payroll utilized with respect to the
				  development of the premium charged to the lessor are appropriate. An audit
				  conducted pursuant to this section does not prevent or relieve an insurer of
				  any other audit right or responsibility it may have.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-8 - Premium discounts

Current through 2024-29, July 17, 2024
Every insurer which issues workers' compensation insurance
				  policies on either a master policy or a multiple coordinated policy basis which
				  provide coverage with respect to employees subject to an employee leasing
				  arrangement shall file for approval with the Bureau a premium discount schedule
				  applicable to such policies which appropriately reflects cost savings created
				  for the insurer any such arrangements.
The rating bureau which files rates with respect to the
				  residual market mechanism shall file for approval with the Bureau a premium
				  discount schedule applicable to policies issued on a multiple coordinated basis
				  through the residual market to lessors and/or lessees under employee leasing
				  arrangements which appropriately reflect cost savings created for the residual
				  market and for service carriers by any such arrangements.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-9 - Penalties

Current through 2024-29, July 17, 2024
In addition to any adjustment in premiums, the Superintendent
				  may impose penalties upon a lessor or lessee as provided under
				   24-A M.R.S.A.
				  §12-A in any case in which a violation
				  of this regulation or applicable statute has occurred.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 560 - WORKER'S COMPENSATION INSURANCE - EMPLOYEE LEASING › Section 031-560-10 - Effective date

Current through 2024-29, July 17, 2024
The effective date of this rule is October 1, 1992. This rule
				  applies to all policies issued or renewed and any applications submitted on or
				  after the effective date of this rule. Policies issued in the residual market
				  pursuant to which coverage is extended to more than one lessee of a lessor
				  pursuant to a master policy concept may remain in effect until their renewal
				  dates, but in the event a lessor enters into an employee leasing arrangement
				  with any client on or after the effective date of this rule, the provisions of
				  this rule relating to multiple policies will be applicable.
History. -- Effective. 10-1-92.
History. -- Statutory Authority.--
				   24-A M.R.S.A.
				  §§212,
				  2178,
				  2364,
				  and
				  2366;
				   32
				  M.R.S.A.
				  §14055(2).
This rule is promulgated pursuant to
				   24-A M.R.S.A.
				  §§212,
				  2178,
				  2364,
				  and
				  2366
				  and 32 M.R.S.A. § 14055(2).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-1 - Purpose

Current through 2024-29, July 17, 2024
The purpose of this Rule is to establish the terms,
				  conditions, standards, and form of any Line of Credit extended to the Maine
				  Insurance Guaranty Association, Maine Life and Health Insurance Guaranty
				  Association, or any of their member insurers, for purposes of facilitating the
				  prompt payment of covered claims against insolvent insurers.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-2 - Authority

Current through 2024-29, July 17, 2024
This Rule is adopted pursuant to 9-B M.R.S.A. § 215 and
				  24-A M.R.S.A. §§24-AM.R.S.A. §§ 212, 4435(9),
				  4605(11).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-3 - Definitions

Current through 2024-29, July 17, 2024
A. "Association" means the Maine Insurance
				Guaranty Association created pursuant to
				 24-A M.R.S.A.
				§4436 or the Maine Life and Health
				Insurance Guaranty Association created pursuant to
				
				24-A M.R.S.A. §4606.
B. "Line of Credit" or "Credit" is a standby
				commitment by a qualified financial institution or group of qualified financial
				institutions to the Association or a Member Insurer, as defined in
				 24-A M.R.S.A.
				§§4435(9) and
				4605(11).
C. "Member Insurer" has the same meaning that
				is set forth in
				 24-A M.R.S.A.
				§4435(6) and
				4605(6).
D. "Equity capital" means the sum of common
				stock, perpetual preferred stock, surplus, undivided profits, reserves for
				contingencies and other capital reserves, and cumulative foreign currency
				translation adjustments, less the net unrealized loss on marketable equity
				securities, all as determined in accordance with generally accepted accounting
				principles.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-4 - Qualified issuers

Current through 2024-29, July 17, 2024
Unless other qualifications are provided in
				   24-A M.R.S.A.
				  §§4435(10) or
				  4605(12),
				  as amended, any issuer of a Line of Credit must be insured by the Federal
				  Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation,
				  or a successor federal deposit insurance agency or agencies. The issuer's
				  equity capital, as defined above, must be at least 6.5 percent of its total
				  assets as determined in accordance with generally accepted accounting
				  principles.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-5 - Satisfactory terms and standards

Current through 2024-29, July 17, 2024
No Line of Credit may take effect until a copy of the
				  contract between the issuer(s) and the Association has been filed with and
				  approved by the Superintendent of Insurance. The contract must contain, at a
				  minimum, the following provisions:
A.
				A provision that the Line of Credit is irrevocable until it expires or is
				terminated in a manner consistent with this Rule and
				 24-A M.R.S.A.
				§4440(3)(B) or
				4609(2)(D),
				as amended, and that no discretionary termination or nonrenewal may take effect
				without 30 days' advance notice to the Association and the Superintendent of
				Insurance.
B. Specific language
				clearly setting forth all requirements for the Association or its authorized
				representatives to access a Line of Credit, including, but not limited to,
				votes of directors to levy an assessment, the time frame within which demand
				for funds must be honored by an issuer of a Credit, terms of debt service and
				retirement undertaken by the Association, and conditions pursuant to which a
				Line of Credit may be withdrawn;
C.
				Any limitations that will be prospectively imposed regarding value and access
				conditions of the Line of Credit;
D. Any restrictions upon use of assets,
				pledge of assets, or assignments of recovery to be imposed respecting the
				Association's future revenues or other rights;
E. A provision that prohibits the diversion
				of funds for any purpose other than administration of the Association's
				obligation to claimants. The agreement shall identify those persons who shall
				have authority to negotiate or draw on the Credit;
F. Any requirement regarding financial
				condition to be maintained by the Association when the Line of Credit is to be
				drawn upon, including repayment terms and schedule(s) to service the
				debt;
G. If the Line of Credit is
				convertible or any other instrument may be substituted as an alternate form of
				debt obligation, the terms of any applicable side agreements;
H. A provision allowing the Association to
				access funds under the credit within one business day after receipt by the
				issuer of satisfactory written evidence of a vote of the Association's director
				authorizing a draw on the Credit upon notice of an insolvent insurer by the
				Superintendent of Insurance, without further documentary evidence;
I. Conditions and limitations, respecting
				suspension of the Issuer's obligation to make funds available under the Line of
				Credit, due to noncompliance by the Association with its obligations or other
				good and sufficient cause, which are satisfactory to the Superintendent of
				Insurance;
J. Procedures, if any,
				for a resolution of disputes between the issuer(s) and the
				Association.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-6 - Extensions of credit by member insurers to the association

Current through 2024-29, July 17, 2024
A. If at any time there is no approved Line
				of Credit in force issued to an Association, each of that Association's Member
				Insurers must either:
i) obtain an approved
				Line of Credit pursuant to this Rule issued to the Member Insurer for the
				benefit of the Association, with all funds drawn on the Line of Credit credited
				to the Member Insurer's account;
ii) enter into an agreement to extend credit
				to the Association, filed with and approved by the Superintendent of Insurance
				in a manner consistent with Section
				5 of this Rule; or
iii) pay a preinsolvency assessment to the
				Association in the amount specified in
				 24-A M.R.S.A.
				§4440 or §
										4609,
				as applicable.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-7 - Assessments

Current through 2024-29, July 17, 2024
Before any Line of Credit can be approved, the Association
				  must file procedures with the Superintendent of Insurance for assessing its
				  Member Insurers in the event that credit funds are inaccessible. If a dispute
				  between the Association and an issuer affecting access to a Credit is not
				  resolved within 7 days, the Superintendent of Insurance may order an
				  assessment, to be collected by the Association or its servicing agent. Payment
				  of the assessment by Member Insurers shall be due within 30 days after receipt
				  of notice of the assessment; a United States Postal Service Certificate of
				  Mailing shall constitute conclusive proof of receipt on the 5th calendar day
				  after mailing.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 570 - GUARANTY ASSOCIATION LINES OF CREDIT › Section 031-570-8 - Effective date

Current through 2024-29, July 17, 2024
This Rule, as amended, shall become effective on July
16, 1994.
History. -- Effective. 8-13-90; amended. 7-16-94.
History. -- Statutory Authority.--9B M.R.S.A. §
				  215;24-A M.R.S.A.
				  §§212,
				  4435(9)
				  and
				  4605(11).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 580 - THIRD-PARTY NOTICE OF CANCELLATION › Section 031-580-1 - Authority

Current through 2024-29, July 17, 2024
This Rule is adopted by the Superintendent pursuant to
				  24 M.R.S.A. §
										2370 and 24-A M.R.S.A. §§ 212,
				  2707-A, 2847-C, 4212(2), 4222-A, 5016.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 580 - THIRD-PARTY NOTICE OF CANCELLATION › Section 031-580-2 - Purpose

Current through 2024-29, July 17, 2024
The purpose of this Rule is to establish conditions and
				  procedures, including disclosure requirements and cancellation restrictions, to
				  reduce the danger that persons suffering from cognitive impairment or
				  functional incapacity will lose their health coverage because their medical
				  condition caused them to neglect their premium payment obligations or made them
				  unaware that their coverage would be terminating. In particular, the
				  third-party notice provisions of this Rule allow an insured person to establish
				  in advance a line of communication that will increase the likelihood that
				  adequate notice is given in the event that the insured person subsequently
				  develops cognitive impairment or functional incapacity.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 580 - THIRD-PARTY NOTICE OF CANCELLATION › Section 031-580-3 - Scope

Current through 2024-29, July 17, 2024
This Rule applies to all health insurance, health maintenance
				  organization contracts, and nonprofit health service contracts, including
				  Medicare supplement policies, long-term care policies, and disability income
				  policies, executed, delivered, issued for delivery, continued, or renewed in
				  the State of Maine, and subject to 24 M.R.S.A. chapter 19 or 24-A M.R.S.A.
				  chapters 33, 35, 56, 67, 68, or 68-A, including certificates delivered in the
				  State of Maine under out-of-state group policies or contracts. For long-term
				  care insurance subject to Bureau of Insurance Rule 425, compliance with Rule
				  425, Section
				  7, shall constitute compliance with
				  this Rule. For group long-term care policies in which the insured pays premium
				  through payroll deduction, insurers may defer the provision of Third Party
				  Notice Request Forms and collection of third-party designation information
				  consistent with Paragraph 5(A)(3) of this Rule.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 580 - THIRD-PARTY NOTICE OF CANCELLATION › Section 031-580-4 - Definitions

Current through 2024-29, July 17, 2024
For purposes of this Rule the following terms shall have the
				  following meanings:
A. "Contract"
				means a policy, certificate, or other evidence of coverage issued by an
				insurer, health maintenance organization, or nonprofit service organization and
				includes certificates delivered in the State of Maine pursuant to out-of-state
				group policies. "Contract" includes both group and individual contracts and
				individual certificates of coverage unless stated otherwise.
B. "Insured" means the named insured,
				subscriber, member, or enrollee provided coverage by a contract, and includes
				the individual responsible for making premium payments on behalf of a small
				employer group or subgroup.
C.
				"Insurer" means an insurance company, health maintenance organization, or
				nonprofit service organization.
D.
				"Nonpayment of Premium" means the failure to remit any payment that the insured
				is required to make to an insurer, group policyholder, or plan sponsor or
				administrator.
E. "Subgroup" means
				an employer covered under a contract issued under a multiple-employer trust,
				association, or other group plan covering more than one employer.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 580 - THIRD-PARTY NOTICE OF CANCELLATION › Section 031-580-5 - Notification

Current through 2024-29, July 17, 2024
A. The following paragraphs describe
				alternative ways of providing notice and are applicable to group and individual
				insurance. At their option insurers may provide more extensive notification to
				covered persons.
1.
First
				alternative
. The insurer shall provide to each insured a "Third Party
				Notice Request Form" giving the insured the option to designate an additional
				person to receive notice of any intent to cancel a contract or certificate.
a) The Third Party Notice Request Form may be
				included as part of each initial or renewal application, or may be a
				supplemental form.
b) If separate,
				it shall be furnished to the insured before or at the time of delivery of the
				contract or certificate to the covered person.
c) If the insured does not return the form
				within 30 days, the insurer may presume that the insured elects not to
				designate a third party. However, the insured may designate a third party at
				any subsequent time.