reglab/statecodes huggingface dataset:
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 160 - ELIGIBLE SURPLUS LINES INSURERS SUMMARY REQUIREMENTS FOR ELIGIBILITY STATUS TO TRANSACT "EXPORT LINES" OF INSURANCE REGARDING RISKS RESIDENT, LOCATED OR TO BE PERFORMED IN MAINE › Section 031-160-3 - General requirements

Current through 2024-29, July 17, 2024
An insurer applying for such surplus lines eligibility shall
				  either (a) be licensed in at least one state of the United States for the class
				  of business it proposes to write in the State of Maine and shall have on
				  deposit in that state or some other state of the United States where licensed,
				  funds that inure to the benefit of all policyholders of the company, such
				  deposited funds shall be at least equal to that sum of capital and surplus
				  required of foreign insurers licensed to write such classes of business under
				  the applicable sections of the Maine Insurance Code; or (b) if not licensed in
				  any state of the United States, the applicant insurer shall establish and
				  maintain a trust fund for the benefit of policyholders located in the United
				  States. Such funds shall, where possible, be held in trust in the United States
				  by a member bank of the Federal Reserve System.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 160 - ELIGIBLE SURPLUS LINES INSURERS SUMMARY REQUIREMENTS FOR ELIGIBILITY STATUS TO TRANSACT "EXPORT LINES" OF INSURANCE REGARDING RISKS RESIDENT, LOCATED OR TO BE PERFORMED IN MAINE › Section 031-160-4 - Specific filings

Current through 2024-29, July 17, 2024
A. Every insurer
				applying for eligibility status shall make an initial filing to the Bureau of
				Insurance. Such filing shall include:
1. A
				written application on forms to be supplied by the Superintendent. The
				application shall contain among other things:
a. A name and home office address of the
				insurer.
b. The location of its
				principal office in the United States.
c. The names of officers principal to the
				conduct of the insurance company business.
d. Whether a stock, mutual, reciprocal or
				other type of business organization.
e. The application shall be signed under oath
				by the chief operations officer of the company.
f. Such other information as may be from time
				to time deemed necessary and appropriate by the Superintendent.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 160 - ELIGIBLE SURPLUS LINES INSURERS SUMMARY REQUIREMENTS FOR ELIGIBILITY STATUS TO TRANSACT "EXPORT LINES" OF INSURANCE REGARDING RISKS RESIDENT, LOCATED OR TO BE PERFORMED IN MAINE › Section 031-160-5 - Financial requirements and claim settlements

Current through 2024-29, July 17, 2024
A.
				All companies shall demonstrate before approval to the eligible list of surplus
				lines insurers that they have afforded fair treatment to their policyholders,
				and
B. That they possess capital
				and/or surplus adequate to their obligations, can meet basic minimum financial
				requirements hereinafter and, if an alien insurer, the insurer shall provide
				evidence of funds on deposit in the United States as specified in subsection
				2 infra.
1. Minimum capitalization requirements for
				insurers to be considered eligible shall be:
STOCK INSURERS _
MUTUAL & RECIPROCAL INSURERS
Minimum Capital Minimum Basic
Stock
_ Free
				  Surplus
Surplus _
Free
				  Surplus _
$500,000 $500,000 $500,000 $500,000
2. For all unauthorized insurers deemed
				eligible to accept surplus lines placements there shall be maintained, if the
				insurer is an alien company, deposit funds as set out hereafter:
a. Alien insurers shall maintain funds in at
				least an amount of $1 million, such funds to be held in trust for the exclusive
				benefit of the policyholders in the United States with whom the policy
				contracts were effectuated.
b.
				Trusteed assets shall be valued and shall qualify as admissible assets and take
				the form of tangible assets generally and readily convertible to cash in
				secondary markets.
c. These
				deposits shall where practicable be maintained in a Federal Reserve Bank in a
				State of the United States. The insurer shall file, or cause to be filed, a
				statement of fund balance periodically on at least a semi-annual calendar basis
				by the trustee bank on behalf of the insurer.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 160 - ELIGIBLE SURPLUS LINES INSURERS SUMMARY REQUIREMENTS FOR ELIGIBILITY STATUS TO TRANSACT "EXPORT LINES" OF INSURANCE REGARDING RISKS RESIDENT, LOCATED OR TO BE PERFORMED IN MAINE › Section 031-160-6 - The Superintendent shall, upon receipt and analysis of filings, review and amend the existing tentative list of eligible insurers and shall, as soon as practicable, issue a new list of eligible companies to which surplus lines brokers shall submit their placements of such coverages Surplus Lines Eligibility - State of Maine

Current through 2024-29, July 17, 2024
The following constitutes that form of data required for your
				  application to be considered.
1.
				Application for Surplus Lines Eligibility.
2. Biographical Sketches.
3. Power of Attorney.
4. Certificate of Compliance from its
				domiciliary state if a foreign company or state of entry if an alien
				company.
5. Certificate of Deposit
				or a statement of trust fund balance.
6. Most recent Report of Examination
				certified by domiciliary supervisory official.
7. A copy of Articles of Incorporation or
				Charter currently certified by domiciliary supervisory official.
8. A copy of By-Laws certified by company's
				secretary.
9. A copy of Annual
				Statement (December 31, preceding) certified by domiciliary supervisory
				official.
10. A list of reinsurers
				to whom the insurance company, association, reciprocal or Lloyd's cedes risks
				of insurance.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 165 - PRUDENTIAL STANDARDS FOR DOMESTIC RISK RETENTION GROUPS › Section 31-165-1 - Authority and Purpose

Current through 2024-29, July 17, 2024
The Superintendent of Insurance has adopted this Rule,
				  pursuant to
				   24-A M.R.S.A.
				  §§212,
				  417,
				  6104, and
				  6718(2),
				  in order to establish financial standards and corporate governance standards
				  for domestic risk retention groups (RRGs).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 165 - PRUDENTIAL STANDARDS FOR DOMESTIC RISK RETENTION GROUPS › Section 31-165-2 - Scope

Current through 2024-29, July 17, 2024
Section
				  3 applies to all RRGs with operations
				  or a place of business in this State. Section
				  4 applies to all domestic RRGs. Section
				  5 applies to all domestic RRGs licensed
				  by the Superintendent as captive insurers.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 165 - PRUDENTIAL STANDARDS FOR DOMESTIC RISK RETENTION GROUPS › Section 31-165-3 - Licensure

Current through 2024-29, July 17, 2024
Any risk retention group, as defined in
				   24-A M.R.S.A.
				  §6093(13), and any
				  entity holding itself out as a risk retention group or RRG or describing itself
				  using substantially similar terminology, that does business or is incorporated
				  or domiciled in this State or does business in another jurisdiction from a
				  place of business in this State, must either:
1. Be licensed by the Superintendent as a
				casualty insurer pursuant to
				24-A
				M.R.S.A. §404 with authority to transact
				casualty insurance;
2. Be licensed
				by the Superintendent as an association or industrial insured captive insurer
				pursuant to
				24-A M.R.S.A.
				§6702 with authority to transact
				casualty insurance; or
3. Hold an
				appropriate license from its domiciliary regulator and, if doing business or
				holding itself out as doing business in this State, be registered with the
				Superintendent as a foreign RRG pursuant to
				24-A M.R.S.A.
				§6095.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 165 - PRUDENTIAL STANDARDS FOR DOMESTIC RISK RETENTION GROUPS › Section 31-165-5 - RRGs Licensed as Captive Insurers

Current through 2024-29, July 17, 2024
Notwithstanding any exemption from the requirements of the
				  Maine Insurance Code otherwise available to captive insurers, an RRG that is
				  licensed by the Superintendent as a captive insurer is subject to the following
				  requirements:
1.
Examinations
.The Superintendent shall have all powers and
				responsibilities to examine any person with respect to the affairs and
				transactions of a captive RRG and, if applicable, its holding company system,
				as set forth in
				24-A M.R.S.A.
				§§221,
				222(1-A),
				and
				223
				through
				228.
A. Nothing in
				24-A M.R.S.A.
				§6708 or other provisions of the captive
				insurance law shall be construed as a limitation on the Superintendent's
				examination authority under this Subsection.
B. Any examination report is a public record
				to the extent provided in
				24-A M.R.S.A.
				§227, notwithstanding
				24-A M.R.S.A.
				§6708(2).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 165 - PRUDENTIAL STANDARDS FOR DOMESTIC RISK RETENTION GROUPS › Section 31-165-6 - Severability

Current through 2024-29, July 17, 2024
If any section or portion of a section of this Rule or its
				  applicability to any person or circumstance is held invalid by a court, the
				  remainder of the Rule or the applicability of the provision to other persons or
				  circumstances shall not be affected.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 170 - CLASSIFICATION OF PRIVATE PASSENGER AUTOMOBILES USED IN CAR POOLS › Section 031-170-1 - Changes in classification

Current through 2024-29, July 17, 2024
Whenever an approved Private Passenger classification system
				  used by a Company licensed to write Automobile Insurance in the State of Maine
				  includes a rating criterion based upon use of the automobile in going to and
				  from work, use of an automobile in a car pool (when no other rating criteria
				  change) shall not result in a change of classification nor affect the coverage
				  or premium.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 170 - CLASSIFICATION OF PRIVATE PASSENGER AUTOMOBILES USED IN CAR POOLS › Section 031-170-2 - Refusals to renew

Current through 2024-29, July 17, 2024
No Company shall refuse to renew an Automobile Insurance
				  Policy on the basis of use of the automobile in a car pool.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 170 - CLASSIFICATION OF PRIVATE PASSENGER AUTOMOBILES USED IN CAR POOLS › Section 031-170-3 - Public or livery conveyance classification

Current through 2024-29, July 17, 2024
Payments among the members of a car pool under a
				  share-the-cost arrangement usually found in connection with such use of
				  automobiles shall not constitute a consideration that would subject the private
				  passenger car to classification as a public or livery conveyance.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 175 - "PRIVATE PASSENGER MOTOR VEHICLE" DEFINITION FOR RENTAL VEHICLE COVERAGE › Section 031-175-1 - Authority and Purpose

Current through 2024-29, July 17, 2024
The Superintendent adopts this Rule pursuant to
				  24-A M.R.S.A.
				  §§212,
				  2927(1)(D),
				  and
				  2927(5)
				  to clarify the term "private passenger motor vehicle" regarding the types of
				  vehicles that a personal automobile insurance policy must cover when the
				  vehicle is rented by an authorized driver under the policy.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 175 - "PRIVATE PASSENGER MOTOR VEHICLE" DEFINITION FOR RENTAL VEHICLE COVERAGE › Section 031-175-2 - Definition of "Private Passenger Motor Vehicle"

Current through 2024-29, July 17, 2024
For the purposes of
				  24-A
				  M.R.S.A. §2927(1)(D),
				  "private passenger motor vehicle" means a vehicle that may be lawfully operated
				  without a commercial driver's license, including a private passenger
				  automobile, sport utility vehicle, pickup truck, or van.
This rule does not prohibit insurers from placing reasonable
				  size, gross vehicle weight, load capacity, or other limitations on the coverage
				  for a van or from further defining "van. "This rule also does not prohibit the
				  exclusion of vehicles not listed in
				  24-A M.R.S.
				  §2927(1)(D), such as
				  recreational vehicles. Any such limitations must be clearly defined in the
				  policy, or in a supplement or amendment to the policy, and notice of such
				  limitations must be included in the notice provided to the insured as required
				  by
				  24-A M.R.S.
				  §2927(3). Any such
				  notice must be filed with and approved by the Superintendent.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 175 - "PRIVATE PASSENGER MOTOR VEHICLE" DEFINITION FOR RENTAL VEHICLE COVERAGE › Section 031-175-3 - 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 the Rule, and the remaining sections or provisions shall remain
				  in full force and effect.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-1 - Authority

Current through 2024-29, July 17, 2024
This rule is adopted pursuant to the authority granted by
				  Sections 212 and 222 of the
Maine Insurance Code
(Title 24-A
				  M.R.S.A.).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-2 - Purpose

Current through 2024-29, July 17, 2024
The purpose of this rule is to prescribe the content of
				  required filings and to establish procedural requirements which the
				  Superintendent deems necessary to carry out the provisions of the
Insurance Holding Company System Regulatory Act
("the Act"),
				  Section 222 of the
Insurance Code.
The information called for
				  by this rule is hereby declared to be necessary and appropriate to the program
				  administration of the Act in the public interest and for the protection of the
				  policyholders in this State.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-3 - Severability Clause

Current through 2024-29, July 17, 2024
If any provision of this rule, or the application thereof to
				  any person or circumstance, is held invalid, such determination shall not
				  affect other provisions or applications of this rule which can be given effect
				  without the invalid provision or application, and to that end the provisions of
				  this rule are severable.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-4 - Forms - General Requirements

Current through 2024-29, July 17, 2024
A. Forms A, A-1, B,
				C, D, E, and F are intended to be guides in the preparation of the statements
				required by the Act. They are not intended to be blank forms which are to be
				filled in. The statements filed shall contain the numbers and captions of all
				items, but the text of the items may be omitted provided the answers thereto
				are prepared in such a manner as to indicate clearly the scope and coverage of
				the items. All instructions, whether appearing under the items of the form or
				elsewhere therein, are to be omitted. Unless expressly provided otherwise, if
				any item is inapplicable or the answer thereto is in the negative, an
				appropriate statement to that effect shall be made.
B. All forms and statements filed pursuant to
				this rule shall be signed in the manner prescribed on the forms. If the
				signature of any person is affixed pursuant to a power of attorney or other
				similar authority, a copy of such power of attorney or other authority shall
				also be filed with the statement.
C. If an applicant requests a hearing on a
				consolidated basis under Subsection 7-A of the Act, the applicant shall file a
				copy of Form A with the National Association of Insurance Commissioners (NAIC)
				in electronic form in addition to filing Form A with the
				Superintendent.
D. Statements
				should be prepared electronically. All statements shall be easily readable and
				suitable for review and reproduction. Debits in credit categories and credits
				in debit categories shall be designated so as to be clearly distinguishable as
				such on photocopies. Statements shall be in the English language and monetary
				values shall be stated in United States currency. If any exhibit or other paper
				or document filed with the statement is in a foreign language, it shall be
				accompanied by a translation into the English language and any monetary value
				shown in a foreign currency normally shall be converted into United States
				currency. If any form, part of a form, or supporting material is filed in hard
				copy, four complete and conformed copies shall be filed with the Superintendent
				by personal delivery or mail addressed to: Superintendent of Insurance, 34
				State House Station, Augusta, Maine 04333.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-5 - Forms - Incorporation by Reference, Summaries, and Omissions

Current through 2024-29, July 17, 2024
A. Information required by any item of Form
				A, Form A-1, Form B, Form D, Form E, or Form F may be incorporated by reference
				in answer or partial answer to any other item. Information contained in any
				financial statement, annual report, proxy statement, statement filed with a
				governmental authority, or any other document may be incorporated by reference
				in answer or partial answer to any item of Form A, Form B, Form D, or Form E,
				if the document or paper is filed as an exhibit to the statement. Excerpts of
				documents may be filed as exhibits if the documents are extensive. Documents
				currently on file with the Superintendent which were filed within the preceding
				three years need not be attached as exhibits. References to information
				contained in exhibits or in documents already on file shall clearly identify
				the material and shall specifically indicate that such material is to be
				incorporated by reference in answer to the item. Matter shall not be
				incorporated by reference in any case where such incorporation would render the
				statement incomplete, unclear, or confusing.
B. Where an item requires a summary or
				outline of the provisions of any document, a brief statement shall be made as
				to the pertinent provisions of the document. In addition to the statement, the
				summary or outline may incorporate by reference particular parts of any exhibit
				or document currently on file with the Superintendent which was filed within
				the preceding three years and may be qualified in its entirety by such
				reference. In any case where two or more documents required to be filed as
				exhibits are substantially identical in all material respects except as to the
				parties thereto, the dates of execution, or other details, a copy of only one
				of the documents need be filed, together with a schedule identifying the
				omitted documents and setting forth the material details in which the omitted
				documents differ from the filed documents. The Superintendent has the
				discretion to require the filing of copies of any omitted documents at any
				time.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-6 - Forms - Information Unknown or Unavailable and Extension of Time to Furnish

Current through 2024-29, July 17, 2024
If it is impractical to furnish any required information,
				  document, or report at the time it is required to be filed, an application for
				  extension shall be filed with the Superintendent as a separate document:
A. Identifying the information, document, or
				report in question;
B. Stating why
				the filing thereof at the time required is impractical; and
C. Requesting an extension of time for filing
				the information, document, or report to a specified date. The request for
				extension shall be deemed granted unless the Superintendent within 30 days
				after receipt thereof enters an order denying the request.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-7 - Forms - Additional Information and Exhibits

Current through 2024-29, July 17, 2024
In addition to the information expressly required to be
				  included in Form A, Form A-1, Form B, Form C, Form D, Form E, and Form F, there
				  shall be added such further material information, if any, as may be necessary
				  to make the information contained therein not misleading. The person filing may
				  also file such exhibits as it may desire in addition to those expressly
				  required by the statement. Such exhibits shall be so marked as to indicate
				  clearly the subject matters to which they refer. Amendments to Forms A, A-1, B,
				  C, D, E, or F shall include on the top of the cover page the phrase: "Amendment
				  No. (insert number) to" and shall indicate the date of the amendment and not
				  the date of the original filing. The Superintendent may also request, at any
				  time, such additional information as the Superintendent reasonably determines
				  to be necessary to an informed determination of the matters addressed by the
				  filing.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-8 - Definitions

Current through 2024-29, July 17, 2024
A.
"Executive officer"
means
				chief executive officer, chief operating officer, chief financial officer,
				treasurer, secretary, controller, any other individual charged with active
				management and control in an executive capacity, and any other individual
				performing functions corresponding to those performed by the foregoing officers
				under whatever title.
B.
"Ultimate controlling person"
means that person who is not
				controlled by any other person.
C.
				Unless the context otherwise requires, other terms defined in Subsection 2 of
				the Act are used as defined therein. Other terminology shall be defined
				according to the
Insurance Code,
or industry usage if not
				defined by the Code.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-9 - Subsidiaries of Domestic Insurers

Current through 2024-29, July 17, 2024
The authority to invest in subsidiaries is specified in
				  Subsection 3 of the Act.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-10 - Acquisition of Control - Statement Filing (Forms A and E)

Current through 2024-29, July 17, 2024
A. A person required to file a statement
				pursuant to Subsection 4-C of the Act shall furnish the required information on
				Form A, hereby made a part of this rule. The statement shall not be considered
				to be filed until the Superintendent determines that all required information
				has been furnished.
B. The filer
				must also furnish the information required on Form E, hereby also made a part
				of this rule, if the proposed transaction will result in an increase in market
				share in this State in any line of insurance, as specified in the annual
				statement required to be filed under 24-A M.R.S.A. § 423, for one or more
				insurers with combined market share greater than 5% in that line of insurance.
				If indicated by the circumstances of the transaction, the Superintendent may
				modify the scope of the information requested in Form E and may require an
				opinion of an economist as to the competitive impact of the acquisition in this
				State.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-11 - Amendments to Form A

Current through 2024-29, July 17, 2024
The applicant shall promptly advise the Superintendent of any
				  changes in the information furnished on Form A arising subsequent to the date
				  upon which such information was furnished but prior to the Superintendent's
				  disposition of the application. This requirement shall continue to apply until
				  a registration statement has been filed pursuant to Subsection 8 of the Act and
				  Section
				  13 of this rule.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-12 - Acquisition of Person in Control of a Domestic Insurer

Current through 2024-29, July 17, 2024
A. If the person being acquired controls a
				domestic insurer, the name of the domestic insurer should be indicated as
				follows on the cover page of Form A:
"ABC Insurance Company, a subsidiary of XYZ Holding
				  Company."
B. Where control
				of a domestic insurer is being acquired through acquisition of its controlling
				person, references to "the insurer" contained in Form A shall refer to both the
				domestic subsidiary insurer and the person being acquired.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-13 - Annual Registration of Insurers - Statement Filing (Form B)

Current through 2024-29, July 17, 2024
An insurer required to file an annual registration statement
				  pursuant to Subsection 8 of the Act shall furnish the required information on
				  Form B, hereby made a part of this rule. Each insurer which is subject to
				  registration shall register within 15 days after it becomes subject to
				  registration and annually thereafter unless the Superintendent, for good cause
				  shown, extends the time for registration, and then within the extended
				  time.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-14 - Summary of Changes to Registration - Statement Filing (Form C)

Current through 2024-29, July 17, 2024
An insurer required to file an annual registration statement
				  pursuant to Subsection 8 of the Act is also required to furnish information
				  required on Form C, hereby made a part of this rule.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-15 - Amendments to Form B

Current through 2024-29, July 17, 2024
A. An amendment to
				Form B shall be filed within 15 days after the end of any month in which there
				is a material change to the information provided in the annual registration
				statement.
B. Amendments shall be
				filed in the Form B format with only those items which are being amended
				reported. Each such amendment shall include at the top of the cover page
				"Amendment No. (insert number) to Form B for (insert year)" and shall indicate
				the date of the change and not the date of the original filings.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-16 - Alternative and Consolidated Registrations

Current through 2024-29, July 17, 2024
A.
				Any authorized insurer may file a registration statement on behalf of any
				affiliated insurer or insurers which are required to register under Subsection
				8 of the Act. A registration statement may include information not required by
				the Act regarding any insurer in the insurance holding company system, even if
				the insurer is not authorized to do business in this State. In lieu of filing a
				registration statement on Form B, the principal insurance company in the
				insurance holding company system may file a copy of the registration statement
				or similar report which it is required to file in its state of domicile,
				provided that the statement or report contains information substantially
				similar to that required to be furnished on Form B.
B. The question of whether the filing insurer
				is the principal insurance company in the insurance holding company system is a
				question of fact and an insurer filing a registration statement or report in
				lieu of Form B on behalf of an affiliated insurer shall set forth a brief
				statement of facts which will substantiate the filing insurer's claim that it,
				in fact, is the principal insurer in the insurance holding company
				system.
C. With the prior approval
				of the Superintendent, an unauthorized insurer may follow any of the procedures
				which could be done by an authorized insurer under Subsection A
				above.
D. An authorized insurer is
				not required to obtain the prior approval of the Superintendent in order to
				file on behalf of one or more affiliated insurers under Subsection A. The
				Superintendent, however, may require individual filings upon a determination
				that such filings are necessary in the interest of clarity, ease of
				administration, or the public good.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-17 - Disclaimers and Termination of Registration (Form A-1)

Current through 2024-29, July 17, 2024
A. A disclaimer of affiliation or a request
				for termination of registration claiming that a person (the "disclaiming
				person") does not, or will not upon the taking of some proposed action, control
				another person (the "subject") shall be submitted on Form A-1 and shall contain
				the following information:
(1) The number of
				authorized, issued, and outstanding voting securities of the subject;
(2) With respect to the disclaiming person
				and all affiliates of the disclaiming person, the number and percentage of
				shares of the subject's voting securities which are held of record or known to
				be beneficially owned, and the number of such shares concerning which there is
				a right to acquire, directly or indirectly;
(3) Information as to all transactions in any
				voting securities of the subject that are currently planned or anticipated, or
				that occurred during the past twelve months, in which the disclaiming person or
				any affiliate of the disclaiming person was involved;
(4) All material relationships and bases for
				affiliation between the subject and the disclaiming person and all affiliates
				of the disclaiming person;
(5) A
				statement explaining why the disclaiming person should not be considered to
				control the subject; and
(6) Such
				further information as is required by Form A-1.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-19 - Enterprise Risk Report (Form F)

Current through 2024-29, July 17, 2024
The ultimate controlling person of an insurer required to
				  file an enterprise risk report pursuant to Subparagraph 8(B-1)(1) of the Act
				  shall furnish the required information on Form F, hereby made a part of this
				  rule.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-20 - Group Capital Calculation

Current through 2024-29, July 17, 2024
A. If a domestic
				insurer is a member of an insurance holding company system for which this State
				is not the lead state, procedures for filing the group capital calculation or
				for full or partial exemptions from filing shall be as specified in the lead
				state's regulation that is substantially similar to this rule, or as otherwise
				approved by the Superintendent if the lead state has not adopted a
				substantially similar regulation.
B. If this State is the lead state for an
				insurance holding company system that has previously filed the annual group
				capital calculation at least once, the Superintendent has the discretion to
				exempt the ultimate controlling person from filing the annual group capital
				calculation, or to accept a limited group capital filing in lieu of the group
				capital calculation, if the Superintendent makes a determination based upon the
				most recent annual group capital filing that the insurance holding company
				system meets all of the following criteria:
(1) Has annual direct written and
				unaffiliated assumed premium (including international direct and assumed
				premium but excluding premiums reinsured with the Federal Crop Insurance
				Corporation and Federal Flood Program), of less than $1,000,000,000;
(2) Has no insurers within its holding
				company structure that are domiciled outside of the United States or one of its
				territories;
(3) Has no banking,
				depository, or other financial entity that is subject to an identified
				regulatory capital framework within its holding company structure;
(4) The holding company system attests that
				there are no material changes in the transactions between insurers and
				non-insurers in the group that have occurred since the most recent filing of
				the annual group capital calculation; and
(5) The non-insurers within the holding
				company system do not pose a material financial risk to the insurer's ability
				to honor policyholder obligations.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-21 - Dividends and Other Distributions

Current through 2024-29, July 17, 2024
A. Notice of
				proposed dividends or distributions to shareholders shall include the
				following:
(1) The amount of the proposed
				dividend;
(2) The date established
				for payment of the dividend;
(3) A
				statement as to whether the dividend is to be in cash or other property and, if
				in property, a description thereof, its cost, and its fair market value,
				together with an explanation of the basis for valuation;
(4) A request for approval of an
				extraordinary dividend or a notice that the proposed dividend was not
				determined to be extraordinary;
(5)
				A copy of the calculations determining whether or not the proposed dividend is
				extraordinary. The work paper shall include the following information:
(a) The amounts, dates, and form of payment
				of all dividends or distributions (including regular dividends but excluding
				distributions of the insurer's own securities) paid within the period of 12
				consecutive months ending on the date fixed for payment of the proposed
				dividend for which approval is sought and commencing on the day after the same
				day of the same month in the last preceding year.
(b) Surplus as regards policyholders (total
				capital and surplus) as of the 31st day of December next preceding;
(c) If the insurer is a life insurer, the net
				gain from operations for the most recent complete calendar year;
(d) If the insurer is not a life insurer, the
				net gain from operations for each of the three most recent complete calendar
				years; and
(e) If the insurer is
				not a life insurer, the dividends paid to stockholders excluding distributions
				of the insurer's own securities in the preceding two calendar years.
(6) A balance sheet and statement
				of income for the period intervening from the last annual statement filed with
				the Superintendent and the end of the month preceding the month in which the
				request for dividend approval is submitted; and
(7) A brief statement as to the effect of the
				proposed dividend upon the insurer's surplus and the reasonableness of surplus
				in relation to the insurer's outstanding liabilities and the adequacy of
				surplus relative to the insurer's financial needs.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-22 - Adequacy of Surplus

Current through 2024-29, July 17, 2024
The factors set forth in Subsection
				  10 of the Act are not intended to be
				  an exhaustive list. In determining the adequacy and reasonableness of an
				  insurer's surplus, no single factor is necessarily controlling. The
				  Superintendent, instead, shall consider the net effect of all of these factors
				  plus other factors bearing on the financial condition of the insurer. In
				  comparing the surplus maintained by other insurers, the Superintendent shall
				  consider the extent to which each of these factors varies from company to
				  company and in determining the quality and liquidity of investments in
				  subsidiaries, the Superintendent shall consider the individual subsidiary and
				  may discount or disallow its valuation to the extent that the individual
				  investments so warrant.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Section 031-180-23 - Effective Date

Current through 2024-29, July 17, 2024
This rule is effective October 15, 1975. The 1993 amendments
				  to this rule are effective August 11, 1993. The 2016 amendments to this rule
				  are effective March 13, 2016. The 2022 amendments to this rule are effective
				  November 6, 2022 (filing 2022-217).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Form 031-180-A - STATEMENT REGARDING THE ACQUISITION OF CONTROL OF OR MERGER WITH A DOMESTIC INSURER

Current through 2024-29, July 17, 2024
____________________________________
Name of Domestic Insurer
BY
____________________________________
Name of Acquiring Person (Applicant)
Filed with the Bureau of Insurance of the State of
				  Maine
Dated: _____________________, 20____
Name, Title, Address, and Telephone Number of Individual to
				  Whom Notices and Correspondence Concerning This Statement Should Be
				  Addressed:
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
ITEM 1.
INSURER AND METHOD OF
				ACQUISITION
State the name and address of the domestic insurer to which
				  this application relates and a brief description of how control is to be
				  acquired.
ITEM 2.
IDENTITY AND BACKGROUND OF THE APPLICANT
(a) State the name and address of the
				applicant seeking to acquire control over the insurer.
(b) If the applicant is not an individual,
				state the nature of its business operations for the past five years or for such
				lesser period as the applicant and any predecessors thereof shall have been in
				existence. Briefly describe the business intended to be done by the applicant
				and the applicant's subsidiaries.
(c) Furnish a chart or listing clearly
				presenting the identities of the inter-relationships among the applicant and
				all affiliates of the applicant. Indicate in the chart or listing the
				percentage of voting securities of each such person which is owned or
				controlled by the applicant or by any other such person. If control of any
				person is maintained other than by the ownership or control of voting
				securities, indicate the basis of such control. As to each person specified in
				the chart or listing indicate the type of organization (
e.g
.,
				corporation, trust, partnership) and the state or other jurisdiction of
				domicile. If court proceedings involving a reorganization or liquidation are
				pending with respect to any such person, indicate which person, and set forth
				the title of the court, nature of proceedings, and the date when
				commenced.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS › Form 031-180-D - PRIOR NOTICE OF A TRANSACTION INVOLVING AN AFFILIATE

Current through 2024-29, July 17, 2024
Filed with the Bureau of Insurance of the State of
				  Maine
BY
____________________________________
Name of Registrant
On Behalf of the Following Insurance Companies:
Name/Address
				  _____________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated: ___________, 20___
Name, Title, Address, and Telephone Number of Individual to
				  Whom Notices and Correspondence Concerning This Statement Should Be
				  Addressed:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
ITEM 1.
IDENTITY OF PARTIES TO
				TRANSACTION
Furnish the following information for each of the parties to
				  the transaction:
(a) Name.
(b) Home office address.
(c) Principal executive office
				address.
(d) The organizational
				structure,
e.g.,
corporation, partnership, individual,
				trust.
(e) A description of the
				nature of the parties' business operations.
(f) Relationship, if any, of other parties to
				the transaction to the insurer filing the notice, including any ownership or
				debtor/creditor interest held by any other parties to the transaction in the
				insurer seeking approval, or interest held by the insurer filing the notice in
				the affiliated parties.
(g) Where
				the transaction is with a non-affiliate, the name(s) of the affiliate(s) which
				will receive, in whole or in substantial part, the proceeds of the
				transaction.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 191 - HEALTHMAINTENANCE ORGANIZATIONS › Section 031-191-1 - Purpose

Current through 2024-29, July 17, 2024
This rule clarifies application submission requirements for
				  applicants seeking a health maintenance organization (HMO) certificate of
				  authority, includingstandards for HMOs set forth in Chapter 56 which do not
				  appear in
				  24-A M.R.S.
				  §4203(3).It also
				  subjects HMOs to other standards consistent with the requirements of Title 24-A
				  Chapter 56 and 56-A.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 191 - HEALTHMAINTENANCE ORGANIZATIONS › Section 031-191-2 - Authority

Current through 2024-29, July 17, 2024
This rule is adopted by the Superintendent pursuant to
				  24-A M.R.S.
				  §§212,
				  4202-A(1),
				  4218,
				  4222-A and
				  4309.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 191 - HEALTHMAINTENANCE ORGANIZATIONS › Section 031-191-3 - Applicability and Scope

Current through 2024-29, July 17, 2024
This rule shall apply to all health maintenance
				  organizations (HMOs) as defined by
				  24-A
				  M.R.S.§4202-A(10),
				  except that the Superintendent may waive or modify certain requirements for
				  HMOs granted limited authority under
				  24-A M.R.S.
				  §4202-A(10)(A) (for
				  example, an HMO licensed to offer only Medicare Advantage plans) if the
				  Superintendent determines that those requirements were intended to apply only
				  to full-service HMOs.
[Drafting Note:In addition to the requirements of this rule,
				  HMOs are subject to the requirements of Title 24-A, Chapter 56, Chapter 56-A,
				  and Bureau of Insurance Rule Chapter 850.Nonprofit Hospital or Medical Service
				  Organizations as defined by
				  24
				  M.R.S.§2301 should also refer to Title
				  24 Chapter 19.HMOs should note that Title 24 and Title 24-A Chapter 56
				  incorporate by reference other chapters and sections of Title 24-A, and that
				  this list of applicable rules and statutes may not be comprehensive and is
				  subject to change.]
All group policies and certificatesand individual contracts
				  written, issued, or renewed in this State on or after January 1, 2018shall
				  conform with Section
				  9 of this rule.For purposes of this
				  rule, all contracts are deemed to be renewed no later than the next yearly
				  anniversary of the contract or evidence of coverage.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 031 - BUREAU OF INSURANCE › Chapter 191 - HEALTHMAINTENANCE ORGANIZATIONS › Section 031-191-5 - Definitions

Current through 2024-29, July 17, 2024
For purposes of this rule, the definitions of
				  24-A
				  M.R.S.§4202-A apply,unless the context
				  indicates otherwise.