§2951. Group property and casualty insurance
1.
Group coverage permitted.
The following lines of property and casualty insurance may be written on a group basis, subject to the requirements of this section and other applicable law:
A.
Liability insurance issued to a risk purchasing group in compliance with chapter 72‑A;
[PL 2001, c. 138, §16 (NEW).]
B.
Credit involuntary unemployment insurance issued to a debtor group in compliance with chapter 37; and
[PL 2001, c. 138, §16 (NEW).]
C.
Other lines of insurance designated by the superintendent in compliance with rules adopted pursuant to section 2953.
[PL 2001, c. 138, §16 (NEW).]
[PL 2001, c. 138, §16 (NEW).]
2.
Terms of coverage.
A policy must provide insured group members with terms of coverage that are no less favorable to the insured than would be required for comparable nongroup policies, at rates consistent with the requirements of this Title.
[PL 2001, c. 138, §16 (NEW).]
3.
Certificate of coverage.
An insured group member must be issued a certificate of coverage adequately describing that insured's rights and responsibilities under the group policy in a manner satisfactory to the superintendent, delivered in the same time and manner as is required for the delivery of comparable nongroup policies.
[PL 2001, c. 138, §16 (NEW).]
SECTION HISTORY
PL 2001, c. 138, §16 (NEW).