Maine § 24-A §6405 Disclosure

Maine Statutes

§ 24-A §6405 — Disclosure

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 77 BUSINESS TRANSACTED WITH PRODUCER-CONTROLLED PROPERTY OR CASUALTY INSURER

Before the effective date of any policy placed with a controlled insurer by a controlling producer or a controlling producer's subproducer, the controlling producer shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain and enforce a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the controlling producer and that the subproducer has notified or will notify the insured.

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Before the effective date of any policy placed with a controlled insurer by a controlling producer or a controlling producer's subproducer, the controlling producer shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain and enforce a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the controlling producer and that the subproducer has notified or will notify the insured.

Maine § 24-A §6405 (Disclosure) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.