Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 440 - MAINE WORKERS' COMPENSATION RESIDUAL MECHANISM
Subchapter II - MAINE WORKERS' COMPENSATION RESIDUAL MARKET POOL
Section 031-440-II-9 - Administration
Current through 2024-38, September 18, 2024
The Board shall designate a Plan manager. The Plan manager shall be responsible for monitoring all actuarial activities of the Plan and for the provision of actuarial services necessary in the conduct of the Plan's affairs, and shall be responsible for the handling, recording, accounting and reporting of all Plan financial transactions. The Plan manager's responsibilities shall include, but not be limited to, the following:
A. Repealed as of November 5, 1995.
B. Repealed as of November 5,
C. Accounts. The maintenance of deposit accounts for holding funds and securities of the Pool consistent with the provisions of section 16 of this subchapter;
D. Enforcement and reporting. The enforcement of adherence to these rules by all members, and the reporting of members who do not adhere to these rules to the Board and the Superintendent;
E. Reporting forms. The requiring of certain forms to be used by member insurers for the periodic reporting to the Plan manager of all data deemed relevant by the Plan manager, and to advise the Superintendent whenever any insurer has failed to provide such a report within thirty (30) days after its due date;
F. Legal actions. The maintenance of legal actions in the name of the Pool when necessary for collection of debts owed to the Pool or otherwise for the enforcement of such other rights as may inure to the Pool and as directed by the Board;
G. Assignments. Processing of applications for coverage and the making of servicing assignments where appropriate; and
H. Monitoring and enforcement. Monitoring and enforcement of servicing performance and data reporting standards applicable to servicing carriers and implementation of such enforcement mechanisms as are adopted by the Board.
