Inland Marine

LINE OF BUSINESS:	Inland Marine	LINE(S) OF INSURANCE	CODES
		Animal Mortality	9.0001
		Difference in Conditions (DIC)	9.0002
Code:	9.0000	EDP Policies	9.0003
		Pet Insurance	9.0004
		Other Commercial Inland Marine	9.0005
		Other Personal Inland Marine	9.0006
IF CHECKLIST IS NOT APPLICABLE, PLEASE EXPLAIN:

REVIEW REQUIREMENTS	REFERENCE	DESCRIPTION OF REVIEW STANDARDS REQUIREMENTS
GENERAL REQUIREMENTS FOR ALL FILINGS
ELECTRONIC FILINGS	Insurance Bulletin 360 Title 24-A § 2304-A. Rate filings Title 24-A § 2412. Filings, approval of forms	Bureau of Insurance Bulletin 360 Electronic Submission of Rate and Form Filings
COVER LETTER		Cover letters may be attached to the Supporting Documentation Tab or the text entered under the Filing Description located under the General Information tab in SERFF
EFFECTIVE DATE WORDING		Include proposed effective date SERFF General Information tab.
LIMITATIONS/RESTRICTIONS ON TRANSACTING BUSINESS	Title 24-A - §404. Certificate of authority required; enforcement; penalty	Must have certificate of authority to transact business
LINE OF AUTHORITY	Inland Marine	Must have requisite certificate of authority to transact business before submitting rate/rule or form filing
NO FILE OR FILING EXEMPTIONS	Title 24-A - §2304-A. Rate filings Title 24-A - §2412. Filing, approval of forms Title 24-A - §2412-A. Large commercial contracts	Specially rated inland marine risks and inland marine risks, which by general custom of the business are not written according to manual rates or rating plans are exempt from filing; policy forms and rates/rules pertaining to large commercial risks exempt from filing — see statue for criteria and definition of large commercial risk
THIRD PARTY FILERS AUTHORITY	Title 24-A - §2304-A. Rate filings Title 24-A - §2412. Filing, approval of forms	Must include authorization to communicate directly with third party filers
FORMS--POLICY PROVISIONS
ACCESS TO COURTS	Title 24-A - §2433. Jurisdiction of courts, limitation of actions	Maine Courts have jurisdiction.
ACTION AGAINST COMPANY	Title 24-A - §3002. Standard fire policy required; exceptions Title 24-A - §2433. Jurisdiction of courts, limitation of actions	Standard fire policy. Foreign insurers.
AMBIGUOUS & MISLEADING	Title 24-A - §2413. Grounds for disapproval	Forms shall be disapproved by the Superintendent if they contain or incorporate by reference any inconsistent, ambiguous or misleading clauses
APPLICATIONS	Title 24-A - §2411. Representations in applications Title 24-A - §2412. Filing, approval of forms Title 24-A - §2186. Insurance fraud prevention	Must file applications only if to be made part of the policy. All statements are considered representations not warranties. The Maine Fraud Warning must appear permanently affixed on all application (i.e. new business, renewal, supplemental, etc…).
ARBITRATION	Title 24-A - §2433. Jurisdiction of courts, limitation of actions	Binding arbitration is not permitted.
BLANK ENDORSEMENTS	Title 24-A - §2412. Filing, approval of forms	Blank endorsements are considered manuscript forms and generally not acceptable. Each manuscripted change is subject to review and can be filed as a consent to form filing pursuant to 24-A § 2308(2).
CANCELLATION & NON-RENEWAL	Title 24-A § 2908 Cancellation and nonrenewal Title 24-A - §3007. Cancellation and nonrenewal	Statutory grounds required to cancel mid-term and must be included in Maine amendatory endorsement; statutory notice required for both cancellation & non-renewal; Maine amendatory endorsement must include mailing time language.
CONTENT OF POLICIES	Title 24-A - §3002. Standard fire policy required; exceptions Title 24-A - MAINE INSURANCE CODE Title 24-A - Chapter 27, THE INSURANCE CONTRACT Title 24-A - Chapter 39, CASUALTY INSURANCE CONTRACTS	Maine Standard Fire Policy applies. Maine amendatory endorsement must contain cancellation/nonrenewal wording consistent with statute.
CREDIT SCORING	Title 24-A - §2169-B. Use of consumer reports in insurance underwriting Insurance - Bulletin 329	Insurance Bulletin 329 and statute contains provisions relating to the use of credit information and credit insurance scores.
DISCRIMINATION	Title 24-A - §2162. Unfair discrimination, rebates prohibited -- property, casualty, surety insurance	Restrictions on policy provisions related to benefits not associated with loss and reductions in premium association with savings and expenses.
FICTITIOUS GROUPS	Title 24-A - §2172. Fictitious groups prohibited	Prohibited.
FRAUD WARNING	Title 24-A - §2186. Insurance fraud prevention	Statutory (or substantially similar) wording must be included on all applications (i.e. new business, renewal, supplemental, etc…) and claim forms.
GROUP POLICIES	Title 24-A - §2951. Group property and casualty insurance	Inland Marine NOT among permitted products.
NOTICE OF CANCELLATION	Title 24-A §2908 Cancellation and nonrenewal Title 24-A §3007 Cancellation and nonrenewal	Minimum 10 days advance notice required for cancellation & must allow for 3 days mail time, i.e., proof of mailing is not proof of receipt until the third calendar day after mailing; Also, notice must inform insured of right to request a hearing within 45 days of receipt of notice.
NOTICE OF NON-RENEWAL	Title 24-A §2908 Cancellation and nonrenewal Title 24-A §3007 Cancellation and nonrenewal	Minimum 30 days advance notice required for nonrenewal & must allow for 3 days mail time, i.e., proof of mailing is not proof of receipt until the third calendar day after mailing.
PAYMENT OF LOSS TIME PERIOD	Title 24-A §2436. Interest on overdue payments	Payment within 30 days and interest on overdue payments of 1.5% per month
PERMISSABLE REASONS FOR CANCELLATION	Title 24-A §2908 Cancellation and nonrenewal Title 24-A §3007 Cancellation and nonrenewal	See statute for permissible grounds.
PRIVACY NOTICE	Title 24-A - §2206. Notice of insurance information practices	See Title 24-A, Ch.24 generally for insurance information and privacy protection.
REBATES	Title 24-A - §2162. Unfair discrimination, rebates prohibited -- property, casualty, surety insurance Title 24-A - §2163. Receipt of rebate, illegal inducement prohibited Insurance - Bulletin 233	Sales inducements rebates prohibited unless contained in policy.
SUIT	Title 24-A - §2433. Jurisdiction of courts, limitation of actions	Insured must be given 2 years from date of loss to bring suit against insurer.
TERRORISM	Insurance - Bulletin 348 Title 24-A - §3002. Standard fire policy required; exceptions	Cannot exclude Standard Fire Policy perils and does not apply to personal lines.
VOIDANCE	Title 24-A §2411. Representations in applications	Do not allow insurers to void coverage for concealment, misrepresentation or fraud except in compliance with Maine case law. See American Home Assurance Co. v. Ingeneri, 479 A.2d 897 (Me. 1984).
WARRANTIES	Title 24-A §2411. Representations in applications	Statements on applications must be considered representations not warranties.
RATE, RULE, RATING PLAN, CLASSIFICATION, AND TERRITORY FILING REQUIREMENTS
ADOPTIONS OF RATE SERVICE ORGANIZATIONS (RSO) FILINGS	Title 24-A §2304-B. Reference filings Insurance - Bulletin 176	Insurer may satisfy rate filing requirements by adopting advisory organization filings and filing loss costs multiplier.
BILLING FEES (INSTALLMENTS, LATE, NSF & REINSTATEMENT)	Title 24-A - §2304-A. Rate filings	Considered part of rating plan.
COMPETITION	Title 24-A - §2306. Disapproval of filing	May support filing by citing specific competitors filing.
CONSENT-TO-RATE	Title 24-A - §2308. Excess rates	Permitted if rating manual filing previously filed does not contemplate the specific risk being assumed.
CREDIBILITY	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	Credibility standards must be supported.
CREDIBILITY AND OTHER FACTORS	Title 24-A - §2303. Making of rates	Rate or loss cost multiplier calculation should reflect credibility and trend factors of insurer.
CREDIT SCORING AND REPORTS	Title 24-A - §2169-B. Use of consumer reports in insurance underwriting Insurance - Bulletin 329	Insurance Bulletin 329 and statute contain provisions relating to the use of credit information and credit insurance scores.
DISCOUNTS	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	Surcharges and credits must be filed and supported.
EXPENSE MODIFICATION PLAN		Considered part of rating plan.
EXPENSES	Title 24-A - §2303. Making of rates	Rate or loss cost multiplier calculation should reflect expenses of insurer.
EXPERIENCE	Title 24-A - §2303. Making of rates	Rate or loss cost multiplier calculation should reflect experience of insurer.
EXPERIENCE RATING		Considered part of rating plan.
INDIVIDUAL RISK RATING	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	Specially rated inland marine risks or risks which by general custom are not written according to manual rates or rating plans.
JUDGMENT	Title 24-A - §2303. Making of rates	Rate or loss cost multiplier calculation should reflect judgment of insurer.
LARGE DEDUCTIBLE		Considered part of rating plan.
LOSS COST MULTIPLIERS	Title 24-A - §2304-B. Reference filings Insurance - Bulletin 176	Insurer may satisfy rate filing requirements by adopting advisory organization filings and filing loss costs multiplier.
LOSS COSTS	Title 24-A - §2304-B. Reference filings Insurance - Bulletin 176	Insurer may satisfy rate filing requirements by adopting advisory organization filings and filing loss costs multiplier.
MINIMUM PREMIUM RULES		Considered part of rating plan.
MULTI-TIER		Considered part of rating plan.
OTHER FEES		Considered part of rating plan.
PAYMENTS PLANS		Considered part of rating plan.
PREMIUMS		Considered part of rating plan.
PRICING	Title 24-A - §2302-A. Definitions Title 24-A §2303. Making of rates Title 24-A §2304-A. Rate filings Title 24-A §2304-B. Reference filings Insurance - Bulletin 176	All aspects of pricing must be filed and supported and/or may adopt advisory organization reference filing and file loss costs multiplier.
PROFIT LOADING	Title 24-A §2303. Making of rates	Rate or loss cost multiplier calculation may reflect profit loading and must include consideration for investment income.
RATE RANGES		Considered part of rating plan.
RATE/LOSS COST SUPPORTING INFORMATION	Title 24-A - §2302-A. Definitions Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings Title 24-A - §2304-B. Reference filings Insurance - Bulletin 176	All aspects of pricing must be filed and supported and/or may adopt advisory organization reference filing and filing loss costs multiplier.
RATING PLAN REQUIREMENTS	Title 24-A §2304-A. Rate filings Title 24-A §2304-B. Reference filings Insurance - Bulletin 176	All aspects of pricing must be filed and supported and/or may adopt advisory organization reference filing and file loss costs multiplier.
RETROSPECTIVE RATING		Considered part of rating plan.
RETURN ON EQUITY/INVESTMENT INCOME	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	Profit must give consideration to investment income. Manual rates, minimum premiums, class rates, rating schedules or rating plans, every other rating rule, and every modification to the foregoing should be filed and supported.
SCHEDULE RATING		Considered part of rating plan.
SERVICE CHARGES		Considered part of rating plan.
SMALL DEDUCITBLE		Considered part of rating plan.
SUPPORTING DATA	Title 24-A. - §2302-A. Definitions Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings Insurance - Bulletin 176	All aspects of pricing must be filed and supported and/or may adopt advisory organization reference filings and file loss costs multiplier.
SURCHARGES		Considered part of rating plan.
TRENDING	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings Title 24-A - §2304-B. Reference filings Insurance - Bulletin 176	All aspects of pricing must be filed and supported and/or may adopt advisory organization reference filing and file loss costs multiplier.
WRAP-UP RATING		Considered part of rating plan.

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