§ 24-A §2322-A — Joint underwriting, joint reinsurance pool and residual market activities

Maine § 24-A §2322-A

• Jurisdiction: Maine
• Title 24-A: MAINE INSURANCE CODE
• Ch. 25: RATES AND RATING ORGANIZATIONS

Text

1.
Notwithstanding section 2321‑B, subsection 2 and consistent with sections 2325, 2325‑A, 2325‑B and 2366, insurers, rating organizations and advisory organizations participating in joint underwriting, joint reinsurance pools or residual market mechanisms may, in connection with such activity, act in cooperation with each other in the making of rates, rating systems, policy forms, underwriting rules, surveys, inspections and investigations, the furnishing of loss and expense statistics or other information, or conducting research. Joint underwriting, joint reinsurance pools and residual market mechanisms are not considered to be advisory organizations.
2.
Insurers, joint underwriters, joint reinsurance pools and residual market activities are regulated as follows.

Legislative History

PL 1989, c. 797, §§25,37,38 (NEW). PL 2003, c. 671, §B1 (AMD).