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| Home > Statutes > Usa Maine |
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USA Statutes : maine
Title : Title 24-A. MAINE INSURANCE CODE
Chapter : Chapter 41. PROPERTY INSURANCE CONTRACTS
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Title 24-A - §3001. Contracts subject to general provisions
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3001. Contracts subject to general provisions
All contracts of property insurance covering subjects located in this State are subject to this chapter, to the applicable
provisions of chapter 27 (the insurance contract) and to other applicable provisions of this Title.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3002. Standard fire policy required; exceptions
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3002. Standard fire policy required; exceptions
1. No insurer may issue fire insurance policies on property in this State other than those of the Maine standard fire insurance
policy which shall contain the following consideration and insuring clause, assignment clause and the general conditions and
stipulations set forth after these consideration, insuring and assignment clauses:
Consideration and Insuring Clause
div>
In Consideration of the Provisions and Stipulations herein or added hereto and of the premium above specified, this Company,
for the term of .......... from .......... at 12:01 a.m. (Standard Time) to .......... at 12:01 a.m. (Standard Time) at location
of property involved, to an amount not exceeding the amount(s) above specified, does insure .......... and legal representatives,
to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost
to repair or replace the property with material of like kind and quality within a reasonable time after such loss, without
allowance for any increased cost of repair or reconstruction by reason of any ordinance or law regulating construction or
repair, and without compensation for loss resulting from interruption of business or manufacture, nor in any event for more
than the interest of the insured, against all DIRECT LOSS BY FIRE, LIGHTNING AND BY REMOVAL FROM PREMISES ENDANGERED BY THE
PERILS INSURED AGAINST IN THIS POLICY, EXCEPT AS HEREINAFTER PROVIDED, to the property described herein while located or contained
as described in this policy, or pro rata for five days at each proper place to which any of the property shall necessarily
be removed for preservation from the perils insured against in this policy, but not elsewhere.
p align="center">Assignment Clause
div>
Assignment of this policy shall not be valid except with the written consent of this Company.
div>
This policy is made and accepted subject to the foregoing provisions and stipulations and those hereinafter stated, which
are hereby made a part of this policy, together with such other provisions, stipulations and agreements as may be added hereto,
as provided in this policy.
p align="center">General Conditions and Stipulations
div>
Concealment, fraud. This entire policy shall be void if, whether before or after a loss, the insured has willfully concealed
or misrepresented any material fact or circumstance concerning this insurance or the subject thereof, or the interest of the
insured therein, or in case of any fraud or false swearing by the insured relating thereto.
div>
Uninsurable and excepted property. This policy shall not cover accounts, bills, currency, deeds, evidences of debt, money
or securities; nor, unless specifically, named hereon in writing, bullion or manuscripts.
div>
Perils not included. This Company shall not be liable for loss by fire or other perils insured against in this policy caused,
directly or indirectly by: (a) enemy attack by armed forces, including action taken by military, naval or air forces in resisting
an actual or an immediately impending enemy attack; (b) invasion; (c) insurrection; (d) rebellion; (e) revolution; (f) civil
war; (g) usurped power; (h) order of any civil authority except acts of destruction at the time of and for the purpose of
preventing the spread of fire, provided that such fire did not originate from any of the perils excluded by this policy; (i)
neglect of the insured to use all reasonable means to save and preserve the property at and after a loss, or when the property
is endangered by fire in neighboring premises; (j) nor shall this Company be liable for loss by theft.
div>
Other insurance. Other insurance may be prohibited or the amount of insurance may be limited by endorsement attached hereto.
div>
Conditions suspending or restricting insurance. Unless otherwise provided in writing added hereto this Company shall not be
liable for loss occurring (a) while the hazard is increased by any means within the control or knowledge of the insured; or
p align="center"> (b) while a described building, whether intended for occupancy by owner or tenant, is vacant or unoccupied beyond a period
of sixty consecutive days; or
p align="center"> (c) as a result of explosion or riot, unless fire ensues, and in that event for loss by fire only.
div>
Other perils or subjects. Any other peril to be insured against or subject of insurance to be covered in this policy shall
be by endorsement in writing hereon or added hereto.
div>
Added provisions. The extent of the application of insurance under this policy and of the contribution to be made by this
Company in case of loss, and any other provision or agreement not inconsistent with the provisions of this policy, may be
provided for in writing added hereto, but no provision may be waived except such as by the terms of this policy is subject
to change.
div>
Waiver provisions. No permission affecting this insurance shall exist, or waiver of any provision be valid, unless granted
herein or expressed in writing added hereto. No provision, stipulation or forfeiture shall be held to be waived by any requirement
or proceeding on the part of this Company relating to appraisal or to any examination provided for herein.
div>
Cancellation of policy. This policy shall be cancelled at any time at the request of the insured, in which case this Company
shall, upon demand and surrender of this policy, refund the excess of paid premium above the customary short rates for the
expired time. This policy may be cancelled at any time by this Company by giving to the insured a ten days' written notice
of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which
excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that said excess premium (if not
tendered) will be refunded on demand.
div>
Mortgagee interests and obligations. If loss hereunder is made payable, in whole or in part, to a designated mortgagee not
named herein as the insured, such interest in this policy may be cancelled by giving to such mortgagee a ten days' written
notice of cancellation.
div>
If the insured fails to render proof of loss such mortgagee, upon notice, shall render proof of loss in the form herein specified
within sixty (60) days thereafter and shall be subject to the provisions hereof relating to appraisal and time of payment
and of bringing suit. If this Company shall claim that no liability existed as to the mortgagor or owner, it shall, to the
extent of payment of loss to the mortgagee, be subrogated to all the mortgagee's rights of recovery, but without impairing
mortgagee's right to sue; or it may pay off the mortgage debt and require an assignment thereof and of the mortgage. Other
provisions relating to the interests and obligations of such mortgagee may be added hereto by agreement in writing.
div>
Pro rata liability. This Company shall not be liable for a greater proportion of any loss than the amount hereby insured shall
bear to the whole insurance covering the property against the peril involved, whether collectible or not.
div>
Requirements in case loss occurs. The insured shall give immediate written notice to this Company of any loss, protect the
property from further damage, forthwith separate the damaged and undamaged personal property, put it in the best possible
order, furnish a complete inventory of the destroyed, damaged and undamaged property, showing in detail quantities, costs,
actual cash value and amount of loss claimed; and within sixty days after the loss, unless such time is extended in writing
by this Company, the insured shall render to this Company a proof of loss, signed and sworn to by the insured, stating the
knowledge and belief of the insured as to the following: The time and origin of the loss, the interest of the insured and
of all others in the property, the actual cash value of each item thereof and the amount of loss thereto, all encumbrances
thereon, all other contracts of insurance, whether valid or not, covering any of said property, any changes in the title,
use, occupation, location, possession or exposures of said property since the issuing of this policy, by whom and for what
purpose any building herein described and the several parts thereof were occupied at the time of loss and whether or not it
then stood on leased ground, and shall furnish a copy of all the descriptions and schedules in all policies and, if required,
verified plans and specifications of any building, fixtures or machinery destroyed or damaged. The insured, as often as may
be reasonably required, shall exhibit to any person designated by this Company all that remains of any property herein described,
and submit to examinations under oath by any person named by this Company, and subscribe the same; and, as often as may be
reasonably required, shall produce for examination all books of account, bills, invoices and other vouchers, or certified
copies thereof if originals be lost, at such reasonable time and place as may be designated by this Company or its representative,
and shall permit extracts and copies thereof to be made.
Appraisal. In case the insured and this Company shall fail to agree as to the actual cash value or the amount of loss, then, on the
written demand of either, each shall select a competent and disinterested appraiser and notify the other of the appraiser
selected within twenty days of such demand. The appraisers shall first select a competent and disinterested umpire; and failing
for fifteen days to agree upon such umpire, then, on request of the insured or this Company, such umpire shall be selected
by a judge of a court of record in the state in which the property covered is located. The appraisers shall then appraise
the loss, stating separately actual cash value and loss to each item; and, failing to agree, shall submit their differences,
only, to the umpire. An award in writing, so itemized, of any two when filed with this Company shall determine the amount
of actual cash value and loss. Each appraiser shall be paid by the party selecting that appraiser and the expenses of appraisal
and umpire shall be paid by the parties equally.
div>
Company's options. It shall be optional with this Company to take all, or any part, of the property at the agreed or appraised
value, and also to repair, rebuild or replace the property destroyed or damaged with other of like kind and quality within
a reasonable time, on giving notice of its intention so to do within thirty days after the receipt of the proof of loss herein
required.
div>
Abandonment. There can be no abandonment to this Company of any property.
div>
When loss payable. The amount of loss for which this Company may be liable shall be payable sixty days after proof of loss,
as herein provided, is received by this Company and ascertainment of the loss is made either by agreement between the insured
and this Company expressed in writing or by the filing with this Company of an award as herein provided.
Suit. No suit or action on this policy for the recovery of any claim shall be sustainable in any court of law or equity unless
all the requirements of this policy shall have been complied with, and unless commenced within two years next after inception
of the loss.
div>
Subrogation. This Company may require from the insured an assignment of all right of recovery against any party for loss to
the extent that payment therefor is made by this Company.
[1989, c. 316, §1 (amd).]
2. The insurer may use an endorsement or rider attached to its printed policy forms used in other states in order, where necessary,
to bring the terms of such form into compliance with the above provisions.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3003. Combination coverages
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3003. Combination coverages
Any policy or contract otherwise subject to section 3002 (standard fire policy required; exceptions), which includes either
on an unspecified basis as to the coverage or for a single premium coverage against the peril of fire and substantial coverage
against other perils need not comply with such provisions, provided:
[1969, c. 132, § 1 (new).]
1. Such policy or contract shall afford coverage, with respect to the peril of fire, not less than the coverage afforded by
such Maine standard fire policy;
[1969, c. 132, § 1 (new).]
2. That such coverage as to the peril of fire shall be made subject without change to the same general provisions and stipulations
as those of such standard fire policy;
[1969, c. 132, § 1 (new).]
3. The provisions in relation to mortgagee interests and obligations in such standard fire policy shall be incorporated therein
without change;
[1969, c. 132, § 1 (new).]
4. Such policy or contract is complete as to all of its terms without reference to the standard form of fire insurance policy
or any other policy;
[1969, c. 132, § 1 (new).]
5. The superintendent is satisfied that such policy or contract complies with the provisions hereof.
[1973, c. 585, § 12 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3004-A. Actual cash value
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3004-A. Actual cash value
1. Actual cash value. "Actual cash value", as used in section 3002, means the replacement cost of an insured item of property at the time of loss,
less the value of physical depreciation as to the item damaged. "Physical depreciation" means a value as determined according
to standard business practices.
[1989, c. 316, §2 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3004. Lines numbered consecutively
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3004. Lines numbered consecutively
The lines of the conditions of the standard fire insurance policy shall be numbered consecutively at the option of the superintendent.
[1973, c. 585, § 12.]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3005. Cancellation of standard fire policy for nonpayment of premium
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3005. Cancellation of standard fire policy for nonpayment of premium
An insurer issuing fire insurance policies on property in this State, under the standard form required by section 3002, may
cancel any such policy in the manner provided by law without tendering to the assured a ratable proportion of the premium,
if the premium has not been paid to the insurer or its agent, or to a duly licensed insurance broker through whom the contract
of insurance was negotiated.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3006. Willful violations
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3006. Willful violations
Any insurer or agent who shall make, issue or deliver a policy of fire insurance in willful violation of sections 3002 or
3003 shall forfeit for each offense not less than $50 nor more than $200, but the policy shall nevertheless be binding upon
the insurer issuing the same.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3007. Cancellation and nonrenewal
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 1: STANDARD FIRE POLICY
§3007. Cancellation and nonrenewal
1. As used in this section, unless the context indicates otherwise, the following terms have the following meanings.
A. "Cancellation" means termination of a policy at a date other than its expiration date.
[1985, c. 671, §2 (new).]
B. "Expiration date" means the date upon which coverage under a policy ends. It also means, for a policy written for a term
longer than one year or with no fixed expiration date, each annual anniversary date of the policy.
[1985, c. 671, §2 (new).]
C. "Nonpayment of premium" means the failure or inability of the named insured to discharge any obligation in connection with
the payment of premium on a policy of insurance subject to this section, whether the payments are payable directly to the
insurer or its agent or indirectly payable under a premium finance plan or extension of credit.
[1985, c. 671, §2 (new).]
D. "Nonrenewal" means termination of a policy at its expiration date.
[1985, c. 671, §2 (new).]
E. "Renewal" or "to renew" means the issuance of, or the offer to issue by an insurer or an affiliate of an insurer, a policy
succeeding a policy previously issued and delivered by the same insurer or an affiliated insurer or the issuance of a certificate
or notice extending the terms of an existing policy for a specified period beyond its expiration date. For purposes of this
section, the transfer of a policy from an insurer to an affiliate is considered a policy renewal.
[2005, c. 114, §3 (amd).]
[2005, c. 114, §3 (amd).]
2. Except as provided by subsection 8, no contract of property insurance may be cancelled by an insurer prior to the expiration
of the policy, except for one or more of the following grounds:
A. Nonpayment of premium;
[1985, c. 671, §2 (new).]
B. Fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining the policy, continuing
the policy or in presenting a claim under the policy;
[1985, c. 671, §2 (new).]
C. Substantial change in the risk which increases the risk of loss after insurance coverage has been issued or renewed, including,
but not limited to, an increase in exposure due to regulation, legislation or court decision;
[1985, c. 671, §2 (new).]
D. Failure to comply with reasonable loss control recommendations;
[1985, c. 671, §2 (new).]
E. Substantial breach of contractual duties, conditions or warranties; or
[1985, c. 671, §2 (new).]
F. Determination by the superintendent that the continuation of a class or block of business to which the policy belongs will
jeopardize a company's solvency or will place the insurer in violation of the insurance laws of this State or any other state.
[1985, c. 671, §2 (new).]
The grounds listed in paragraphs A to E shall be contained in all policies issued, issued for delivery or renewed on or after
the effective date of this section. Insurers shall have 30 days from the effective date of this section to notify insureds
of these grounds for cancellation on policies issued or issued for delivery before the effective date of this section.
[1985, c. 671, §2 (new).]
3. If a policy has been issued for a term longer than one year and, for additional premium consideration, a premium has been
guaranteed, the insurer may not refuse to renew or increase the policy premium for the term of that policy.
[1985, c. 671, §2 (new).]
4. If an insurer offers or purports to renew a contract, but on less favorable terms to the insured or at higher rates, and
a higher rating plan, the new terms or rates and rating plan may take effect on the renewal date if the insurer has provided
the insured notice as required by this section. If the insurer has not so notified the contract holder, the contract holder
may elect to cancel the renewal policy within the 30-day period after receipt of the notice or delivery. Earned premium for
the period of coverage for such time as the renewal contract may have been in force shall be calculated pro rata at the lower
of the current or previous year's rate. If the insured accepts the renewal, the premium increase, if any, and other changes
shall be effective immediately following the prior policy's expiration or anniversary date. This section does not apply if
the change is a rate, form or plan filed with the superintendent and applicable to the entire class of business to which the
policy belongs or to a premium increase based on the altered nature or extent of the risk insured against.
[1985, c. 671, §2 (new).]
5. Cancellation or nonrenewal is not effective until notice is received by the insured as follows.
A. To the extent that section 3002 is applicable, the notice of cancellation shall be given as provided for in that section.
If section 3002, is not applicable, cancellation shall not be effective prior to 10 days after receipt by the insured of a
notice of cancellation. The notice shall state the effective date of and the reason or reasons for cancellation.
[1985, c. 671, §2 (new).]
B. Nonrenewal subject to this section is not effective prior to 30 days after receipt of notice written by the insured. Prior
to the date of renewal of a policy that has been transferred by an insurer to an affiliate, the insured must receive notice
of any changes to the terms of the policy that are less favorable to the insured.
[2005, c. 114, §4 (amd).]
C. A post-office certificate of mailing to the named insured at his last known address shall be conclusive proof of receipt
of notice on the 3rd calendar day after mailing.
[1985, c. 671, §2 (new).]
[2005, c. 114, §4 (amd).]
6. Any insured who has received a notice of an insurer's intent to cancel a policy may, within 45 days of the receipt of the
notice, request a hearing before the superintendent. The purpose of this hearing shall be limited to establishing the existence
of the proof or evidence given by the insurer in its notice of cancellation. The burden of proof of the reason for cancellation
shall be upon the insurer. The superintendent shall have the authority to order that a policy remain in force both pending
and, if the superintendent finds in favor of the insured, subsequent to a hearing. If the superintendent finds in favor of
the insurer at a hearing, the superintendent may order the policy to remain in force for 14 days to allow the insured to obtain
other coverage.
[1989, c. 172, §6 (amd).]
7. Except as provided in Title 10, chapter 210, no insurer or licensed agent or employee of the insurer may be held liable
in any civil action for statements made in a notice of cancellation or nonrenewal or at a hearing held under this section
if the statements were made in good faith and, in the case of cancellation, are reasonably related to the grounds for cancellation.
[1985, c. 671, §2 (new).]
8. This notice does not apply to any insurance policy that has not been previously renewed if the policy has been in effect
less than 60 days at the time notice of cancellation is mailed or otherwise delivered, except as provided in subsection 1,
paragraph A and subsection 5, paragraphs A and C. This section does not apply to any policy subject to the Maine Property
Insurance Cancellation Control Act, subchapter V. This section does not apply to any policy issued pursuant to any assigned
risk plan. The superintendent may suspend, in whole or in part, the applicability of this section to any insurer if, in the
superintendent's discretion, its application will endanger the ability of the insurer to fulfill its contractual obligation.
[1991, c. 25, §2 (amd).]
9. This section applies to all contracts of property insurance, except surplus lines contracts, delivered or issued for delivery
in this State, both before and after the effective date of this section. Provisions in this section relating to nonrenewal
of policies shall take effect 30 days after the effective date of this section.
[1989, c. 172, §6 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3020. Policy and deposit note one contract; insolvency; liability of insured; note surrendered
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 2: DEPOSIT NOTES
§3020. Policy and deposit note one contract; insolvency; liability of insured; note surrendered
1. A policy of insurance issued by a fire or marine insurer, domestic or foreign, and a deposit note given therefor are one
contract. A loss under such policy or other equitable claims may be proved in defense to the note, though it was indorsed
or assigned before it was due.
[1969, c. 132, § 1 (new).]
2. When an insurer becomes insolvent, the maker of the note is only liable for the equitable proportion thereof which accrued
during the solvency. If the insolvency occurs within 60 days of the date of the note, it is void except for the amount of
the maker's claim, if any, on the insurer. No insured shall be held to contribute to any losses or expenses beyond the amount
of his deposit note. At the expiration of his term of insurance, his note, on payment of all assessments for which it is liable,
shall be relinquished to him, except as provided in section 3021.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3021. Lien on insured real estate
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 2: DEPOSIT NOTES
§3021. Lien on insured real estate
Any fire insurer shall have a lien against the insured, on the buildings insured and the land appurtenant thereto, for the
amount at any time due on the note referred to in section 3020, to commence from the time of the recording of the same, and
to continue 60 days after the expiration of the policy on which such note is given, if the insurer causes a certificate of
its claim to such lien, signed by the secretary, to be recorded by the register of deeds for the county or district. During
the pendency of such lien, an attachment of such property, in a civil action on the note in favor of the insurer, has priority
of all other attachments or claims. Execution, when recovered, may be levied on it accordingly.
[1969, c. 132, §1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3022. Lien continues on deceased's property; policy descends to estate
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 2: DEPOSIT NOTES
§3022. Lien continues on deceased's property; policy descends to estate
Upon the death of a member, the lien of the insurer remains good on the property insured to the amount due on the deposit
note, and the policy descends to the executor or administrator of the deceased for the benefit of the estate during its continuance,
unless voluntarily surrendered or forfeited by the charter of the insurer.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3030. Lien established; application of payments
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 3: LIEN OF MORTGAGEES ON POLICIES
§3030. Lien established; application of payments
The mortgagee of any real estate or the mortgagee of any personal property shall have a lien upon any policy of insurance
against loss by fire procured thereon by the mortgagor, to take effect from the time he files with the insurer, at its home
office, a written notice, briefly describing his mortgage, the estate conveyed thereby and the sum remaining unpaid thereon.
If the mortgagor, by a writing by him signed and filed with the secretary, consents that the whole of the sum secured by the
policy, or so much as is required to discharge the amount due on the mortgage at the time when a loss occurs, shall be applied
to the payment of the mortgage, it shall be so paid by the insurer and the mortgagee's receipt therefor shall be a sufficient
discharge of the insurer.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3031. Enforcement of lien
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 3: LIEN OF MORTGAGEES ON POLICIES
§3031. Enforcement of lien
If the mortgagor does not consent as provided for in section 3030, the mortgagee of any real estate may, at any time within
60 days after a loss, and the mortgagee of any personal property may at any time within 30 days after a loss, enforce his
lien by a civil action against the mortgagor, and the insurer as his trustee, in which judgment may be rendered for what is
found due from the insurer upon the policy, notwithstanding the time of payment of the whole sum secured by the mortgage has
not arrived, and which action shall be commenced and service made on the trustee within such 60 or 30 days.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3032. Application of amount recovered
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 3: LIEN OF MORTGAGEES ON POLICIES
§3032. Application of amount recovered
The amount recovered under section 3031 shall be applied first to the payment of the costs of the civil action and officer's
fees on the execution and next to the payment of the amount due on the mortgage. The balance, if any, shall be retained by
the insurer and paid to the mortgagor. If the insurer assumes the defense, it shall be liable to the plaintiff for costs in
the same manner as the principal defendant, defending the action, would be.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3033. Priority of mortgagees
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 3: LIEN OF MORTGAGEES ON POLICIES
§3033. Priority of mortgagees
When 2 or more mortgagees claim the benefit of sections 3030 to 3032, their rights shall be determined according to the priority
of their claims and mortgages by the principles of law.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3034. Mortgagee's policy void, unless consented to
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 3: LIEN OF MORTGAGEES ON POLICIES
§3034. Mortgagee's policy void, unless consented to
When any mortgagee claims the benefit of sections 3030 to 3033, any policy of insurance which he had procured or subsequently
procures on his interest in the same property by virtue of his mortgage is void, unless consented to by the insurer insuring
the mortgagor's interest.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3040. Insurance on furniture, owned jointly by husband and wife
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 4: GENERAL PROVISIONS
§3040. Insurance on furniture, owned jointly by husband and wife
Insurance effected by a husband or wife on a dwelling house owned by the insured and on the furniture therein is valid for
all the furniture, although part is owned by the husband and part by the wife.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3041. Time limit for adjusting, paying fire loss; penalty
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 4: GENERAL PROVISIONS
§3041. Time limit for adjusting, paying fire loss; penalty
1. In case of physical loss by fire to property insured by any insurer, the insurer or its representative shall begin adjustment
of such loss within 20 days after the receipt of the notice of loss provided for by the policy.
[1969, c. 132, § 1 (new).]
2. In any statute relating to fire insurance or in any policy of fire insurance, reference to the date of loss or the time
when a loss occurs shall mean the day of the fire against which the policy insures.
[1969, c. 132, § 1 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3042. Loss information to be supplied
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 4: GENERAL PROVISIONS
§3042. Loss information to be supplied
1. Request for information. Every insurer shall provide loss information concerning an insurance policy to its insured within 30 calendar days of the
receipt of a written request from the insured or an insurance agent or other authorized representative of the insured. An
insurer may not cancel or refuse to renew an insurance policy for the nonpayment of premium during any period within which
the insurer fails to provide the loss information requested under this section, unless the insured requests that information
fewer than 45 calendar days prior to the expiration date of the insurance policy.
[1989, c. 696, §2 (new).]
2. Transmittal of request. If an insured requests loss information from an insurance agent or an authorized representative of the insured, the representative
or agent shall transmit the request for loss information to the insurer within 4 working days.
[1989, c. 696, §2 (new).]
3. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Insurance policy" means the insurance policy relating to the loss information requested pursuant to this section.
[1989, c. 696, §2 (new).]
B. "Loss information" means the following items: the name of the insured, the date of the loss, the date the claim was received
by the insurer, a description of the loss, any amount paid by the insurer on account of the loss, any amount reserved for
the loss and whether the claim is open or closed.
[1989, c. 696, §2 (new).]
[1989, c. 696, §2 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3048-A. Hearings
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3048-A. Hearings
Unless otherwise specified, all hearings held under this subchapter shall conform to the procedures set forth in the Maine
Administrative Procedure Act, Title 5, chapter 375, subchapter IV.
[1977, c. 694, § 427 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3049. Notice of cancellation; reasons
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3049. Notice of cancellation; reasons
No policy may be cancelled except by notice to the insured as provided in this subchapter. No notice of cancellation of a
policy shall be effective unless it is based on one or more of the following reasons:
[1973, c. 239 (new).]
1. Nonpayment of premium, including nonpayment of any additional premiums, calculated in accordance with the current rating
manuel of the insurer, justified by a physical change in the insured property or a change in its occupancy or use. No notice
of cancellation for nonpayment of premium shall be effective unless deemed received under section 3050 after the premium due
date;
[1979, c. 347, §8 (amd).]
2. Conviction of the named insured of a crime having as one of its necessary elements an act increasing any hazard insured
against;
[1973, c. 239 (new).]
3. Discovery of fraud or material misrepresentation by any one of the following:
A. The insured or the insured's representative in obtaining the insurance; or
[2003, c. 671, Pt. A, §3 (amd).]
B. The named insured in pursuing a claim under the policy;
[1973, c. 239 (new).]
[2003, c. 671, Pt. A, §3 (amd).]
4. Discovery of either:
A. Negligent acts or omissions by the insured substantially increasing any of the hazards insured against; or
[2003, c. 671, Pt. A, §4 (new).]
B. A failure to disclose a material fact in relation to the application for insurance that would, if coverage is effectuated
without knowledge by the insurer, substantially alter the terms of the policy;
[2003, c. 671, Pt. A, §4 (new).]
[2003, c. 671, Pt. A, §4 (rpr).]
5. Physical changes in the insured property that result in the property becoming uninsurable;
[2003, c. 671, Pt. A, §5 (amd).]
6. The insured property is vacant and custodial care is not maintained on the property;
[2003, c. 671, Pt. A, §6 (new).]
7. The presence of a trampoline on the premises if the insured is notified that the policy will be cancelled if the trampoline
is not removed and the trampoline, after notice, remains on the property 30 or more days after the date of notice;
[2003, c. 671, Pt. A, §6 (new).]
8. The presence of a swimming pool upon the insured property that is not fenced in, in accordance with the standards established
in Title 22, section 1631, if the pool remains in noncompliance with those standards for 30 days after notice by the insurer
of the defective condition and intent to cancel the policy;
[2003, c. 671, Pt. A, §6 (new).]
9. A loss occasioned by a dog bite, unless, after notice of cancellation or nonrenewal is received, the insured removes the
dog; or
[2003, c. 671, Pt. A, §6 (new).]
10. Failure to comply with reasonable loss control recommendations within 90 days after notice from the insurer.
[2003, c. 671, Pt. A, §6 (new).]
div>
This section does not apply to any policy or coverage that has been in effect less than 90 days at the time notice of cancellation
is received by the named insured, or 120 days in the case of residential property that is expected to be continuously unoccupied
for 3 months in any 12-month period and that is other than the insured's primary residence, unless it is a renewal policy.
An insured does not have the right to a hearing before the Superintendent of Insurance for the purpose of contesting cancellation
of a new policy that has been in force less than 90 days or 120 days in the case of residential property other than the insured's
primary residence that is expected to be continuously unoccupied for 3 months in any 12-month period.
[2003, c. 671, Pt. A, §7 (amd).]
div>
This section shall not apply to the nonrenewal of a policy.
[1977, c. 414, §1 (new).]
div>
"Nonpayment of premium" means failure of the named insured to discharge when due any of his obligations in connection with
the payment of premium on the policy, or any installment of a premium, whether the premium is payable directly to the insurer
or its agent or indirectly under any premium finance plan or extension of credit.
[1979, c. 35 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3050. Delivery of notice
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3050. Delivery of notice
A notice of cancellation of a policy is not effective unless received by the named insured at least 20 days prior to the effective
date of cancellation, or, when the cancellation is for nonpayment of premium, at least 10 days prior to the effective date
of cancellation. A postal service certificate of mailing to the named insured at the insured's last known address is conclusive
proof of receipt on the 5th calendar day after mailing.
[2005, c. 114, §5 (amd).]
div>
Except for a policy that has been in effect for less than 60 days at the time notice of cancellation is received by the named
insured, the reason for cancellation must accompany the notice, together with a notice of the right to apply for a hearing
before the Superintendent of Insurance within 30 days, as provided in section 3054.
[2005, c. 114, §5 (amd).]
div>
Prior to the date of renewal of a policy that has been transferred by an insurer to an affiliate, the insured must receive
notice of any changes to the terms of the policy that are less favorable to the insured.
[2005, c. 114, §5 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3051. Notice of intent
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3051. Notice of intent
An insurer may not fail to renew a policy except by notice to the insured as provided in this subchapter. A notice of intention
not to renew is not effective unless received by the named insured at least 30 days prior to the expiration date of the policy.
A post office certificate of mailing to the named insured at the insured's last known address is conclusive proof of receipt
on the 3rd calendar day after mailing. The reason must accompany the notice of intent not to renew, together with notification
of the right to apply for a hearing before the Superintendent of Insurance within 30 days as provided.
[2003, c. 671, Pt. A, §8 (amd).]
div>
The reason or reasons for the intended nonrenewal action must accompany the notice of intent not to renew and the reason or
reasons must be explicit. Explanations such as "underwriting reasons," "underwriting experience," "loss record," "location
of risk," "credit report" and similar insurance terms are not by themselves acceptable explanations of an insurer's intended
nonrenewal of a policy insuring property of the kind defined in section 3048. The reason for nonrenewal must be a good faith
reason and related to the insurability of the property or a ground for cancellation pursuant to section 3049.
[2003, c. 671, Pt. A, §8 (amd).]
div>
This section does not apply:
[2003, c. 671, Pt. A, §8 (amd).]
1. If the insurer has manifested its willingness to renew;
[2005, c. 114, §6 (amd).]
2. If the insured fails to pay any premium due or any advance premium required by the insurer for renewal; or
[2005, c. 114, §7 (amd).]
3. If the insured has transferred a policy to an affiliate.
[2005, c. 114, §8 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3052. Duplicate coverage
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3052. Duplicate coverage
If an insured obtains a replacement policy which provides equal or more extensive coverage for any property designated in
both policies, the first insurer's coverage of such property may be terminated by failure to renew as of the effective time
and date of the replacement policy, whether or not the first insurer complies with all provisions of section 3051.
[1973, c. 239 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3053. Renewal not a waiver or estoppel
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3053. Renewal not a waiver or estoppel
Renewal of a policy shall not constitute a waiver or estoppel with respect to grounds for cancellation which existed before
the effective date of renewal.
[1973, c. 239 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3054. Hearing before Superintendent of Insurance
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3054. Hearing before Superintendent of Insurance
A named insured who has received a statement of reason for cancellation, or of reason for an insurer's intent not to renew
a policy, may, within 30 days of the receipt of a statement of reason, request a hearing before the Superintendent of Insurance.
The purpose of this hearing is limited to establishing the existence of the proof or evidence used by the insurer in its reason
for cancellation or intent not to renew. The burden of proof of the reason for cancellation or intent not to renew is on the
insurer. If an insurer's reason for nonrenewal is not based on a ground for cancellation permitted under section 3049, the
insurer must provide proof or evidence that the reason for nonrenewal is a good faith reason and related to the insurability
of the property. A statement from the insurer that the risk does not meet the insurer's underwriting guidelines alone is
not considered sufficient proof or evidence. The superintendent shall adopt rules for carrying out this section. The superintendent
may order the policy to continue in effect both pending and, if the superintendent finds in favor of the insured, subsequent
to a hearing. If the superintendent finds in favor of the insurer at a hearing, the superintendent may order the policy to
remain in force for 14 days to allow the insured to obtain other coverage.
[2003, c. 671, Pt. A, §9 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3055-A. Discontinuance of a line of business
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3055-A. Discontinuance of a line of business
If an insurer files a plan with the superintendent to discontinue business in a line of insurance subject to this subchapter,
the superintendent may authorize the nonrenewal of policies in that line of business if the plan filed by the insurer demonstrates
the availability of substantially similar coverage in the admitted market. The nonrenewal of a policyholder pursuant to this
section may not be considered by an insurer in future coverage determinations. An insurer may resume transacting business
in a line of insurance discontinued pursuant to this section upon written notification to the superintendent.
[2005, c. 49, §2 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3055. Superintendent's authority to suspend
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3055. Superintendent's authority to suspend
In the event of impairment or serious financial difficulty of an insurer or insurers, the superintendent shall have the authority
to suspend the provisions of the Maine Property Insurance Cancellation Control Act from applying to the policies of the financially
distressed insurer or insurers.
[1977, c. 414, § 6 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3056. Nonliability for certain statements
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3056. Nonliability for certain statements
1. Notices. Except as provided in Title 10, chapter 210, no insurer or licensed agent or employee of the insurer may be held liable in
any civil action for statements made in a notice of cancellation or intent not to renew under this chapter if:
A. The statements were made in good faith;
[1979, c. 112, § 2 (new).]
B. The statements are reasonably related to the reason for cancellation or intent not to renew; and
[1979, c. 112, § 2 (new).]
C. In the case of a notice of cancellation, the reason for cancellation is a reason permitted under section 3049.
[1979, c. 112, § 2 (new).]
[1979, c. 112, § 2 (new).]
2. Hearings. Except as provided in Title 10, chapter 210, no person may be held liable in any civil action for statements made or information
given at a hearing held under this chapter if:
A. The statements were made or the information was given in good faith;
[1979, c. 112, § 2 (new).]
B. The statements or the information are reasonably related to the reason for cancellation or intent not to renew; and
[1979, c. 112, § 2 (new).]
C. In the case of a hearing held on a notice of cancellation, the reason for cancellation is a reason permitted under section
3049.
[1979, c. 112, § 2 (new).]
[1979, c. 112, § 2 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3057. Actions related to age of dwelling prohibited
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3057. Actions related to age of dwelling prohibited
An insurance company authorized to transact business in this State may not cancel or refuse to issue or renew a property insurance
policy subject to this subchapter solely on the basis of the age of the dwelling and without consideration of the current
condition of the property.
[2003, c. 671, Pt. A, §10 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3058. Refusal based on previous owner's losses
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3058. Refusal based on previous owner's losses
An insurance company authorized to transact business in this State may not refuse to issue a property insurance policy subject
to this subchapter for the sole reason that a previous owner of the property submitted claims for losses to the property.
[2003, c. 671, Pt. A, §10 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 24-A - §3059. Insurer valuation of property; increase in premium; notice
Title 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
Subchapter 5: MAINE PROPERTY INSURANCE CANCELLATION CONTROL ACT
§3059. Insurer valuation of property; increase in premium; notice
1. Increase in valuation. If an insurer determines that the stated insured value of a property covered by a policy subject to this subchapter should
be increased to depict more accurately its current value and the increase in valuation will result in an increase in premium
for the policy, then the increase in the stated insured value and the corresponding increase in premium may be implemented
only at the time of renewal.
[2003, c. 671, Pt. A, §10 (new).]
2. Notice. If an insurer increases the stated insured value in accordance with subsection 1, then the insurer must provide notice to
the named insured on the policy at least 30 days prior to the effective date of the renewal policy stating the reason for
the increase in premium and the amount of premium increase associated with the increase in valuation. The notice also must
state that upon written request by the named insured the insurer will disclose the specific reasons and specific property
characteristics that contributed to the resulting increase in stated value.
[2003, c. 671, Pt. A, §10 (new).]
3. Exemptions. This section does not apply to routinely scheduled increases in valuation under the policy based on inflation or to increases
in the stated insured value of a property agreed to by the insured.
[2003, c. 671, Pt. A, §10 (new).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
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