02-031 C.M.R. ch. 231, § 10 - Miscellaneous Provisions

A. Review Procedures

The review process for applications for a Certificate of Authority shall be conducted in accordance with the following procedures.

(1) Application reviews will be conducted continuously throughout the year. The Superintendent may withhold final determination on applications filed after October 1 of each year until 30 days after receipt of the annual financial statements which are due March 1 of the following year.

(2) The Financial Analysis Division shall make a recommendation to the Superintendent concerning applications which have been reviewed and findings reached thereon. The Superintendent shall consider the recommendation and make a decision on the application. Written notice of the decision shall be mailed to the Applicant within 30 days after the date of decision.

(3) Unless there is good cause for expediting or postponing review, applications will be considered in the order in which they are filed. An Applicant is not entitled to priority treatment on the ground that affiliated insurers are licensed in this State.

(4) The Applicant may expect a period of at least two months before final review of the application, in order, inter alia, to allow for background investigations, inquiry regarding claims settlement practices, and the gathering of any necessary information not filed with the initial application. Additional time will be required, if it is necessary to wait for the Applicant to provide additional information or a response to an inquiry.

(5) If an Applicant has any tax liability owing to this State, the Application will be withdrawn from consideration and will not be accepted for filing until the tax liability is fully discharged.

(6) Any person aggrieved by a decision on an application for a Certificate of Authority may seek an administrative hearing before the Superintendent under 24-AM.R.S.A. §229, by filing a written request with the Bureau within 90 days after the complainant learned or reasonably should have learned of the decision.

B. Continuing Duties of Applicant

The Applicant must keep filings current. Any document on file must be updated promptly, if there is any change to it, either while the application is pending or after the Certificate of Authority is granted.

Notes

02-031 C.M.R. ch. 231, § 10