Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 550 - CALCULATION OF PREMIUM FOR INTERSTATE WORKERS' COMPENSATION INSURANCE RISKS AND RATE FILING REQUIREMENTS
Section 031-550-4 - Definitions

Universal Citation: 02 ME Code Rules ยง 031-550-4
Current through 2024-38, September 18, 2024

"Policy, insurer and employer" refer to any workers' compensation insurance policy within the scope of this Rule and to the parties to that policy.

"Maine exposure" means all business activity covered by the policy that is subject to Maine workers' compensation law and not simultaneously subject to a law of some other state that would permit the insurer to charge a higher workers' compensation premium.

"Maine rate" means the premium rate filed by the insurer and approved by the Maine Superintendent of Insurance for use for the risks covered by the policy.

. "Rating Plan" means a plan approved by the Maine Superintendent of Insurance which allows for a schedule of credits or debits based upon risk factors which are not reflected in an insurer's manual rates or an employer's experience modification factor.

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