CHAPTER 671

S.P. 692 - L.D. 1853

An Act To Amend the Laws Relating to Property and Casualty

Insurance and To Authorize the Superintendent of Insurance

To Establish a Mandatory Market Assistance Program

Be it enacted by the People of the State of Maine as follows:

PART A

Sec. A-1. 24-A MRSA §2304-A, sub-§1, as repealed and replaced by PL 1991, c. 377, §10, is amended to read:

1. Every insurer shall file with the superintendent, except as to inland marine risks, which by general custom of the business are not written according to manual rates or rating plans, every manual rate, minimum premium, class rate, rating schedule or rating plan and every other rating rule, and every modification of any of the foregoing which that it proposes to use. Every such The filing must state the effective date of the filing, and indicate the character and extent of the coverage contemplated. Every such The filing must be made not less than 30 days in advance of the stated effective date unless that 30-day requirement is waived by the superintendent. The effective date may be suspended by the superintendent for a period of time not to exceed 60 days, except that the effective date for filings made electronically may not be suspended.