Title 24-A, Title 24-A

The Maine Employers' Mutual Insurance Company is established for the purposes of providing workers' compensation insurance and employers' liability insurance incidental to and written in connection with workers' compensation coverage to employers of this State at the highest leve…

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1991, c. 615, Pt. D, §1 (NEW).] 1. Board. "Board" means the Board of Directors of the Maine Employers' Mutual Insurance Company. 2. Company. "Company" means the M…

The Maine Employers' Mutual Insurance Company is established as an assessable domestic mutual insurance company subject to all the requirements and standards of this Title that are applicable to cash plan insurers unless specifically exempted from or which are clearly inconsisten…

The company is not considered a state agency or instrumentality of the State for any purpose. The company is not and may never be supported in any way by the State's General Fund or any guaranty by the State, any state agency or a division of the State. The State may not borrow o…

1. Annual report. In addition to any other reports required by this Title, the board shall submit an annual report to the Governor and the joint standing committee of the Legislature having jurisdiction over insurance matters indicating the business done by the company during the…

The board has full power, authority and jurisdiction over the company. [PL 1991, c. 885, Pt. C, §8 (NEW).] 1. General authority. The board may perform all acts necessary or convenient in the exercise of any power, authority or jurisdiction over the company, either in the administ…

1. Powers. For the specific purpose of exercising the responsibilities granted in this chapter and effectuating the purposes of this chapter, the company has the powers otherwise granted to a casualty insurer and may: A. Hire employees or enter into contracts relating to the admi…

1. Appointment. The board shall appoint a president who shall serve as chief executive officer and who is responsible for the operation of the company. The president must be qualified by education and experience to manage an organization with financial and operational obligations…

1. Initial funding. 2. Ongoing funding. The company: A. [PL 2001, c. 350, §4 (RP).] B. May assess its policyholders for additional funds to meet operating needs or as required by law; and [PL 1995, c. 551, §5 (AMD).] C. May provide premium payment plans and premium financing prog…

1. Coverage availability. On or after January 1, 1993, the company shall provide workers' compensation and incidental employers' liability coverage to employers otherwise entitled to coverage, but not able to or not electing to purchase coverage in the voluntary insurance market,…

The company may contract with licensed producers to submit applications and otherwise assist applicants and insureds.

The following provisions apply to the financial operation of the company. [PL 2001, c. 350, §6 (AMD).] 1. Separate accounting. 2. Rates. Rates developed and filed by the company must be in accordance with chapter 25, subchapter II‑B. Rates filed within the rate-band are considere…

"Reciprocal" insurance is that resulting from an interchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interchange being effectuated through an "attorney-in-fact" common to all such persons.

1. All authorized reciprocal insurers shall be governed by those sections of this chapter not expressly made applicable to domestic reciprocals. 2. Existing authorized reciprocal insurers shall after January 1, 1970 comply with this chapter, and shall make such amendments to thei…

1. A reciprocal insurer may, upon qualifying therefore as provided for by this Title, transact any kind or kinds of insurance defined by this Title, other than life or title insurances. 2. Such an insurer may purchase reinsurance upon the risk of any subscriber, and may grant rei…

A reciprocal insurer shall: [PL 1969, c. 132, §1 (NEW).] 1. Have and use a business name. The name shall include the word "reciprocal," or "interinsurer," or "interinsurance," or "exchange," or "underwriters," or "underwriting" or "association." 2. Sue and be sued in its own name…

1. "Attorney", as used in this chapter, refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm or corporation. 2. The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in this State, shall not…

1. Twenty-five or more persons domiciled in this State may organize a domestic reciprocal insurer and make application to the superintendent for a certificate of authority to transact insurance. 2. The proposed attorney shall fulfill the requirements of and shall execute and file…

1. The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer. 2. The superintendent may refuse to grant a certificate of authority, and may file a complaint with the District Court seeking suspension or revocation of a certifi…

1. The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers. 2. The power of attorney must set forth: A. The powers of the attorney; [PL 1969, c. 132, §1 (NEW).] B. If a domestic reciprocal insurer, th…

Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No such modification shall be effective retroactively, nor as to any insurance cont…

1. Concurrently with the filing of the declaration provided for in section 3856, the attorney of a domestic reciprocal insurer shall file with the superintendent a bond in favor of this State for the benefit of all persons damaged as a result of breach by the attorney of the cond…

In lieu of the bond required under section 3860, the attorney may maintain on deposit with the Treasurer of State through the office of the superintendent, a like amount in cash or in value of securities qualified under this Title as insurers' investments, and subject to the same…

Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall…

1. Legal process must be served upon a domestic reciprocal insurer by serving the insurer's attorney at that attorney's principal offices. 2. Any judgment based upon legal process so served shall be binding upon each of the insurer's subscribers as their respective interests may …

The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms such funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer, and, except upon liquidation of the insurer, sha…

In determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules: [PL 1969, c. 132, §1 (NEW); PL 1973, c. 585, §12 (AMD).] 1. The superintendent shall charge as liabilities the same reserves as are required of incorporated insurers…

Individuals, partnerships and corporations of this State may make application, enter into agreement for and hold policies or contracts in or with and be a subscriber of any domestic, foreign or alien reciprocal insurer. Any corporation now or hereafter organized under the laws of…

1. The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt. 2. Not less than 2/3 of such committee shall be subscribers other than the attorney, or any person employed by, representing,…

1. The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual, several and proportionate liability, and not joint. 2. Except as to a nonassessable policy, each subscriber has a contingent assessm…

1. No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for 30 days. 2. Any such judgment is binding upon each subscriber only in such proportion as the subs…

1. Assessments may from time to time be levied upon subscribers of a domestic reciprocal insurer liable therefor under the terms of their policies by the attorney upon approval in advance by the subscribers' advisory committee and the superintendent; or by the superintendent in l…

Every subscriber of a domestic reciprocal insurer having contingent liability is liable for, and shall pay the subscriber's share of any assessment, as computed and limited in accordance with this chapter, if: [RR 2021, c. 1, Pt. B, §319 (COR).] 1. While the subscriber's policy i…

No one policy or subscriber as to such policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year, in excess of the amount provided for in the power of attorney or in the subsc…

1. If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock and surplus required to be maintained by a domestic stock insurer authorized to transact like kinds of insurance, upon application of the attorney and as approved b…

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus, and the return of any unused premium, savings or credits then s…

1. A domestic reciprocal insurer upon affirmative vote of not less than 2/3 of its subscribers who vote on such merger pursuant to due notice and the approval of the superintendent of the terms therefor, may merge with another reciprocal insurer or be converted to a stock or mutu…

1. If the assets of a domestic reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall forthwith make up the deficien…

This chapter may be known and cited as "the Maine Guaranteed Access Reinsurance Association Act."

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2011, c. 90, Pt. B, §8 (NEW).] 1. Association. "Association" means the Maine Guaranteed Access Reinsurance Association under section 3953. 2. Board. "Board" means…

1. Guaranteed access reinsurance mechanism established. The Maine Guaranteed Access Reinsurance Association is established as a nonprofit legal entity. As a condition of doing business in the State, an insurer that has issued or administered medical insurance within the previous …

1. Liability. The board and its employees may not be held liable for any obligations of the association. A cause of action may not arise against the association; the board, its agents or its employees; a member insurer or its agents, employees or producers; or the superintendent …

1. Duties. The association shall: A. Establish administrative and accounting procedures for the operation of the association; [PL 2011, c. 90, Pt. B, §8 (NEW).] B. Select an association administrator in accordance with section 3956; [PL 2011, c. 90, Pt. B, §8 (NEW).] C. Collect t…

1. Selection of administrator. The board shall select an insurer or 3rd-party administrator through a competitive bidding process to administer the reinsurance provided by the association. 2. Contract with administrator. The administrator selected pursuant to subsection 1 serves …

1. Assessments. For the purpose of providing the funds necessary to carry out the powers and duties of the association under section 3955, the board shall assess insurers at such a time and for such amounts as the board finds necessary. Assessments are due not less than 30 days a…

1. Reinsurance amount. A member insurer offering an individual health plan under section 2736‑C must be reinsured by the association to the level of coverage provided in this subsection and is liable to the association for any applicable reinsurance premium at the rate establishe…