02-031-550 Me. Code R. § 7

Current through 2024-46, November 13, 2024

Section 031-550-7 - Penalties against insurers

It is a violation of 24-A M.R.S.A §2382, an unfair trade practice, and an unfair method of competition for the insurer, knowingly or negligently:

(a) to use a workers' compensation rate unless the rate has been filed with the Superintendent for approval ;

(b) to use a workers' compensation rate after it has been disapproved by the Superintendent; or

(c) to refuse to submit information requested by the Superintendent as part of the approval process.

For each violation of this section, subject to the limitations of 24-A M.R.S.A. §2387, the Superintendent shall assess a civil penalty no less than three times the difference between the approved Maine rate and the unauthorized rate used by the insurer, and shall take whatever further enforcement action is warranted by the violation.

02-031 C.M.R. ch. 550, § 7