02-031 C.M.R. ch. 260, § 2 - Manner in Which Notice to be Given
Current through 2022-14, April 6, 2022
In order to comply with the provisions of 14 M.R.S.A. §167 an insurer must provide notice in the form prescribed by section 1 above whenever the policy is issued or renewed. An insurer is not required to give the notice upon a renewal effected by issuance of a continuation certificate pursuant to 24-A M.R.S.A. §2421, provided, that the notice was previously given to the insured in accordance with this regulation. The required wording may appear on an insurance binder, on the face of a policy jacket, as a separate endorsement, or within the policy language in a manner reasonably intended to give notice.
This notice requirement applies to any policy outstanding on, and effective on or after January 1, 1982. Pursuant to Title 24-A M.R.S.A. Section2412, individual insurers must submit the proposed form or endorsement to the Superintendent of Insurance for approval, or this filing requirement may be satisfied on behalf of member or subscriber companies by an authorized rating organization.
Statutory Authority.--14 M.R.S.A.
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