CHAPTER 95
S.P. 154 - L.D. 528
An Act To Exempt Insurers of Commercial Vehicle Fleets from the Requirement of Notification to the Secretary of State When Insurance Is Cancelled
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 29-A MRSA §1601-A, sub-§6 is enacted to read:
6. Fleet insured with commercial automobile coverage. A company insuring a fleet of 3 or more vehicles with commercial fleet automobile coverage is exempt from the requirements of this section with respect to that fleet.
For the purposes of this subsection, "commercial automobile coverage" means any coverage provided to an insured, regardless of number of vehicles or entity covered, under a commercial automobile, garage or truckers coverage form and rated according to either a commercial manual or a rating rule as filed with and approved by the Bureau of Insurance. Vehicle type and ownership are not the primary factors in either underwriting the coverage or rating the coverage. The rating may be subject to individual risk characteristics, including, but not limited to, experience rating, schedule rating, loss rating and deductible rating.
Effective September 17, 2005.
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