Chapter 340 - NOTICE OF RULEMAKING

Notice is hereby given that the Superintendent of Insurance proposes Maine Insurance Rule Chapter 340, Mortality Tables for Use in Determining Minimum Reserves and Nonforfeiture Benefits. No public hearing is scheduled. A public hearing will be held if requested by any five interested persons.

The purpose of these proposed amendments is to establish for preneed insurance products minimum mortality standards for reserves and nonforfeiture values, and to require the use of the 1980 Commissioners Standard Ordinary (CSO) Life Valuation Mortality Table for use in determining the minimum standard of valuation of reserves and the minimum standard nonforfeiture values for preneed insurance products. The amendment also makes minor technical corrections to existing portions of the Rule.

This rule is promulgated by the Superintendent pursuant to Title 24-A M.R.S.A. Sections 212, 953 and 2532-A.

All interested persons are invited to submit written comments. Written comments must be received no later than August 1, 2008 at 5:00 p.m. and should be addressed to Vanessa Leon, Maine Bureau of Insurance,
34 State House Station, Augusta, Maine 04333.

A copy of the proposal is attached.

DATED:

__________________________
MILA KOFMAN
Superintendent of Insurance