Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 740 - CREDIT FOR REINSURANCE
Section 031-740-8 - Accredited reinsurers

Universal Citation: 02 ME Code Rules ยง 031-740-8
Current through 2024-38, September 18, 2024

Pursuant to Title 24 A M.R.S.A. §731- B(1)(B-1), the Superintendent shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer which has been accredited as a reinsurer in this State at all times for which statutory financial statement credit is claimed under this section. If the Superintendent determines that an accredited reinsurer has failed to meet or maintain any of the qualifications for accreditation, the Superintendent may suspend or revoke the reinsurer's accreditation after written notice and opportunity for hearing. Credit for reinsurance shall not be allowed under this section if the assuming insurer's accreditation has been revoked by the Superintendent or if the reinsurance was ceded while the assuming insurer's accreditation was under suspension by the Superintendent.

Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.