Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 710 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITIONS FOR INSURANCE COMPANIES
Section 031-710-3 - Scope
Current through 2024-38, September 18, 2024
This rule applies to all risk-bearing entities regulated by the Superintendent and doing business in this State, as follows:
A. For purposes of this rule, "insurance carrier" means an insurer authorized or required to be authorized under 24-A M.R.S.A. §404, a nonprofit organization authorized to provide benefit plans under 24 M.R.S.A. §2301, a health maintenance organization, or a domestic risk retention group that is a captive insurer.
B. To the limited extent consistent with the nature of the regulated entity's operations and the scope of the Superintendent's statutory authority, the provisions of this rule that are applicable to insurance carriers also apply to special purpose reinsurance vehicles, eligible surplus lines insurers, mutual assessment plan insurers, fraternal benefit societies, foreign risk retention groups, multiple-employer welfare arrangements, captive insurers that are not risk retention groups, service contract providers that do not maintain reimbursement insurance policies qualifying under 24-A M.R.S.A. §7103(5)(A), and group workers' compensation self-insurers.
