§3701. Purpose 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 level of service and savings consistent with reasonable applicable actuarial standards and the sound financial […]
§3702. Definitions 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. [PL 1991, c. 615, Pt. D, §1 (NEW).] 2. Company. “Company” […]
§3703. Establishment 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 inconsistent with the provisions contained in this chapter. Notwithstanding any other law to […]
§3704-A. Initial funding and operation (REPEALED) SECTION HISTORY PL 1991, c. 885, §C5 (NEW). PL 1997, c. 661, §7 (RP).
§3704. Prerequisites to operations (REPEALED) SECTION HISTORY PL 1991, c. 615, §D1 (NEW). PL 1991, c. 885, §C4 (RP).
§3705. Nonstate agency 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 […]
§3706. Reports and information 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 previous year and containing a statement […]
§3707. Powers of the board 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 administration of the […]
§3708. General powers 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 administration of a workers’ compensation insurer; […]
§3709. President and chief executive officer 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 to its policyholders and claimants. […]
§3710. Funding; surplus 1. Initial funding. [PL 1997, c. 661, §9 (RP).] 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 […]
§3711. Operation of the company 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, and not authorized, either individually or as part of […]
§3712-A. Divisions (REPEALED) SECTION HISTORY PL 1997, c. 661, §11 (NEW). PL 2001, c. 350, §5 (RP).
§3712. Divisions (REPEALED) SECTION HISTORY PL 1991, c. 885, §C8 (NEW). RR 1993, c. 1, §65 (COR). PL 1995, c. 560, §G9 (AMD). PL 1997, c. 661, §10 (RP).
§3713. Authority to contract with licensed producers The company may contract with licensed producers to submit applications and otherwise assist applicants and insureds. [PL 1997, c. 661, §12 (AMD).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW). PL 1997, c. 661, §12 (AMD).
§3714. Accounting; assessments The following provisions apply to the financial operation of the company. [PL 2001, c. 350, §6 (AMD).] 1. Separate accounting. [PL 2001, c. 350, §7 (RP).] 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 […]
