02-031-560 Me. Code R. § 7
Current through 2024-46, November 13, 2024
All insurers shall audit any policy issued pursuant to Section 4 of this rule within 90 days of the policy effective date and may conduct quarterly audits thereafter. The purpose of the audit will be to determine whether all classifications, experience modification factors, and estimated payroll utilized with respect to the development of the premium charged to the lessor are appropriate. An audit conducted pursuant to this section does not prevent or relieve an insurer of any other audit right or responsibility it may have.
02-031 C.M.R. ch. 560, § 7