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Home > Agendas > 2008-2009 > P&FR > Bureau of Insurance

2008-2009 Regulatory Agendas

02-031
Bureau of Insurance

AGENCY UMBRELLA-UNIT NUMBER: 02-031
AGENCY NAME: Department of Professional and Financial Regulation, Bureau of Insurance

CONTACT PERSON: Thomas M. Record, Esq., Senior Staff Attorney, 34 State House Station, Augusta, ME 04333-0034. Tel: (207) 624-8424, thomas.m.record@maine.gov

EMERGENCY RULES ADOPTED SINCE THE LAST REGULATORY AGENDA: None

CONSENSUS-BASED RULE DEVELOPMENT: None anticipated

EXPECTED 2008-2009 RULEMAKING ACTIVITY:

Workers’ Compensation Insurance

Amendments to Chapter 250: Workers’ Compensation Self-Insurance
STATUTORY AUTHORITY: 24-A M.R.S.A. §212 and 39-A M.R.S.A. §403
PURPOSE: to amend current rule to reflect a recent statutory change relating to the working capital offset provision for security calculations and other changes necessary to reflect current business practices.
ANTICIPATED SCHEDULE: Summer-Fall 2008
AFFECTED PARTIES: workers’ compensation self-insurers

Amendments to or Repeal and Replacement of Chapter 560: Workers’ Compensation Insurance – Employee Leasing
STATUTORY AUTHORITY: 24-A M.R.S.A. §§ 212, 2178, 2364, 2366; 32 M.R.S.A. §14055
PURPOSE: to implement revisions to the NAIC Model Rule on workers’ compensation insurance provided with respect to employee leasing arrangements
ANTICIPATED SCHEDULE: Summer-Fall 2008
AFFECTED PARTIES: workers’ compensation insurers, professional employee organizations

Amendment to Chapter 730: Standards for Acceptance of Reinsurance of Workers’ Compensation Self-Insurance
STATUTORY AUTHORITY: Title 24-A M.R.S.A. §§ 212, 222, 410,412, 413, 421, 422, and 731-B, and Title 39-A M.R.S.A. §403
PURPOSE: consistency with amendments to Rule Chapter 740
ANTICIPATED SCHEDULE: Summer 2008
AFFECTED PARTIES: workers’ compensation self-insurers

Property and Casualty Insurance

None

Amendments to Rule: Requirements for Health Insurance Rate Filings and Data Reporting
STATUTORY AUTHORITY: 24-A M.R.S.A. §§212, 2736-C(2)(H) and 2007 PL c. 629, Part M
PURPOSE: to reflect new rating rules, pooling requirements and the repeal of the savings offset payment
ANTICIPATED SCHEDULE: Fall-Winter 2008
AFFECTED PARTIES: health carriers

Amendments to Rule Chapter 945: Annual Report Supplement for Health Insurers
STATUTORY AUTHORITY: 24-A M.R.S.A. §§ 212 and 423-D
PURPOSE: to amend the rule to reflect the new assessment on claims enacted by 2007 PL. c. 629 and the repeal of the savings offset payment
ANTICIPATED SCHEDULE: Winter-Spring 2009
AFFECTED PARTIES: health insurers, HMOs

NEW RULE: Closed Blocks of Business
STATUTORY AUTHORITY: 24-A M.R.S.A. §§ 212, 2736-C(2)(H)
PURPOSE: to establish procedures and practices that facilitate the implementation of the statute, including notice requirements
ANTICIPATED SCHEDULE: Summer-Fall 2009
AFFECTED PARTIES: health carriers

NEW RULE (Contingent): Maine Individual Reinsurance Association
STATUTORY AUTHORITY: 24-A M.R.S.A. §§ 212, 3903(3)
PURPOSE: If Board of Directors of the Maine Individual Reinsurance Association fails to adopt a plan of operation and suitable articles and bylaws within 90 days after the appointment of the Board, the superintendent of insurance is required to adopt rules to effectuate the requirements
ANTICIPATED SCHEDULE: contingent on actions of Board
AFFECTED PARTIES: Maine Individual Reinsurance Association

NEW RULE: Health Insurance Pilot Projects; Persons Under 30
STATUTORY AUTHORITY: 24-A M.R.S.A. §§ 212, 2736-C(10)
PURPOSE: to procedures and policies that facilitate the implementation of a pilot project pursuant to this subsection, including, but not limited to, a process for submitting a pilot project proposal, minimum requirements for approval of a pilot project and any requirements for minimum benefits
ANTICIPATED SCHEDULE: Summer 2008
AFFECTED PARTIES: health carriers in the individual market, consumers

Life Insurance

Amendments to Chapter 340: Mortality Tables for Use in Determining Minimum Reserves and Nonforfeiture Benefits
STATUTORY AUTHORITY: 24-A M.R.S.A. §§212, 953 and 2532-A
PURPOSE: to provide specific reserve standards applicable to credit life insurance as provided for by NAIC Model Regulation
ANTICIPATED SCHEDULE: Pending
AFFECTED PARTIES: credit life insurers

New Rule: Life Insurance; Notice of Cancellation
STATUTORY AUTHORITY: 24-A M.R.S.A. §§212 and 2556
PURPOSE: to implement the provisions of 2007 PL c. 40 which relates to notices of cancellation of individual life insurance policies
ANTICIPATED SCHEDULE: Pending
AFFECTED PARTIES: life insurers and their individual policyholders

MIscellaneous

Amendments to Chapter 160: Eligible Surplus Lines Insurers
STATUTORY AUTHORITY: 24-A M.R.S.A. §212 and Chapter 19
PURPOSE: to update process for applying for surplus lines authority
ANTICIPATED SCHEDULE: Fall 2008
AFFECTED PARTIES: surplus lines insurers

Amendments to Chapter 740: Credit for Reinsurance
STATUTORY AUTHORITY: 24-A M.R.S.A. §731-B
PURPOSE: to modernize and conform to NAIC initiatives
ANTICIPATED SCHEDULE: Summer 2008
AFFECTED PARTIES: insurers

New Rule: Audit Standards
STATUTORY AUTHORITY: 24-A M.R.S.A. §212, 221-A
PURPOSE: to adopt the NAIC Model Audit Standards
ANTICIPATED SCHEDULE: Late 2008
AFFECTED PARTIES: insurers