Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 180 - INSURANCE HOLDING COMPANY SYSTEM MODEL RULE WITH REPORTING FORMS AND INSTRUCTIONS
Section 031-180-16 - Alternative and Consolidated Registrations

A. Any authorized insurer may file a registration statement on behalf of any affiliated insurer or insurers which are required to register under Subsection 8 of the Act. A registration statement may include information not required by the Act regarding any insurer in the insurance holding company system, even if the insurer is not authorized to do business in this State. In lieu of filing a registration statement on Form B, the principal insurance company in the insurance holding company system may file a copy of the registration statement or similar report which it is required to file in its state of domicile, provided that the statement or report contains information substantially similar to that required to be furnished on Form B.

B. The question of whether the filing insurer is the principal insurance company in the insurance holding company system is a question of fact and an insurer filing a registration statement or report in lieu of Form B on behalf of an affiliated insurer shall set forth a brief statement of facts which will substantiate the filing insurer's claim that it, in fact, is the principal insurer in the insurance holding company system.

C. With the prior approval of the Superintendent, an unauthorized insurer may follow any of the procedures which could be done by an authorized insurer under Subsection A above.

D. An authorized insurer is not required to obtain the prior approval of the Superintendent in order to file on behalf of one or more affiliated insurers under Subsection A. The Superintendent, however, may require individual filings upon a determination that such filings are necessary in the interest of clarity, ease of administration, or the public good.