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 031-550-7 - Penalties against insurers

Universal Citation: 02 ME Code Rules ยง 031-550-7

Current through 2024-38, September 18, 2024

It is a violation of 24-A M.R.S.A §2382, an unfair trade practice, and an unfair method of competition for the insurer, knowingly or negligently:

(a) to use a workers' compensation rate unless the rate has been filed with the Superintendent for approval ;

(b) to use a workers' compensation rate after it has been disapproved by the Superintendent; or

(c) to refuse to submit information requested by the Superintendent as part of the approval process.

For each violation of this section, subject to the limitations of 24-A M.R.S.A. §2387, the Superintendent shall assess a civil penalty no less than three times the difference between the approved Maine rate and the unauthorized rate used by the insurer, and shall take whatever further enforcement action is warranted by the violation.

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