Burglary and Theft

LINE OF BUSINESS:	Burglary & Theft	LINE(S) OF INSURANCE	CODES
		Commercial	26.0001
		Personal	26.0002
Code:	26.0000


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. Filing, 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 on SERFF General Information
LIMITATIONS/RESTRICTIONS ON TRANSACTING BUSINESS	Title 24-A - §404. Certificate of authority required; enforcement; penalty	Must have certificate of authority to transact business
FILING EXEMPTIONS	Title 24-A - §2412-A. Large commercial contracts	Large commercial risks exempt from filing — refer to statute for criteria and definition of large commercial risk
LINE OF AUTHORITY	Burglary and Theft	Must have requisite certificate of authority to transact business before submitting rate/rule/form filings
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 Rate Filing Requirements Rate/Rule/Form Filing Procedures
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 - §2433. Jurisdiction of courts, limitation of actions	Insured must be given 2 years from date of loss to bring suit against insurer
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	The insurance contract must contain statutory grounds for cancellation and nonrenewal, the number of days notice and the number of days mail time required to deem conclusive proof of receipt.
CONTENT OF POLICIES	Title 24-A - §2901. Contracts subject to general provisions Title 24-A - MAINE INSURANCE CODE Title 24-A - Chapter 27, THE INSURANCE CONTRACT Title 24-A - Chapter 39, CASUALTY INSURANCE CONTRACTS	Contracts subject to provisions of Casualty Chapter 39 and general provisions of Chapter 27
Credit Scoring Notice	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
DISCRIMINATION	Title 24-A - §2162. Unfair discrimination, rebates prohibited -- property, casualty, surety insurance	Restrictions on policy provisions relating to benefits not associated with loss and reductions in premium association with savings and expenses
FICTITIOUS GROUPS	Title 24-A - §2172. Fictitious groups	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	Burglary and Theft NOT among permitted products.
Notice of Cancellation	Title 24-A § 2908 Cancellation and Nonrenewal
Notice of Non-renewal	Title 24-A § 2908 Cancellation and Nonrenewal
Payment of Loss Time Period	Title 24-A - §2436. Interest on overdue payments	Payment within thirty days and interest on overdue payments of 1.5% per month
Permissible Reasons for Cancellation	Title 24-A § 2908 Cancellation and Nonrenewal
Permissible Reasons for Non-renewal	Title 24-A § 2908 Cancellation and Nonrenewal
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
SUBROGATION	Title 24-A - §2910-A. Subrogation; medical payments coverage	Policy may not provide for subrogation or priority over an insured for medical payments
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 the insurer
Terrorism	Insurance - Bulletin 348	Permitted on this line of business but cannot exclude Standard Fire Policy perils
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 are deemed to be 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.
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.
Billing Fees (installments, late, NSF & reinstatement)	Title 24-A - §2304-A. Rate filings	Considered part of rating plan.
CONSENT-TO-RATE	Title 24-A - §2308. Excess rates	Consent to rate and form requirements for individual risk filings
CREDIT SCORING AND REPORTS	Title 24-A - §2169-B. Use of consumer reports in insurance underwriting	Insurance Bulletin 329 and statute contain provisions relating to the use of credit information and credit insurance scores
CREDIBILITY AND OTHER FACTORS	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	Credibility standards must be supported
DISCOUNTS	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	Credits must be filed
GROUP POLICIES	Title 24-A - §2951. Group property and casualty insurance	Burglary and Theft NOT among permitted products.
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.
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 filings and filing loss costs multiplier.
Minimum Premium Rules		Considered part of rating plan.
Multi-tier		Considered part of rating plan.
Payment Plans		Considered part of rating plan.
Premiums		Considered part of rating plan.
Service Charges		Considered part of rating plan.
Surcharges		Considered part of rating plan.
Other Fees		Considered part of rating plan.
RATE RANGES		Considered part of rating plan.
RATING PLAN REQUIREMENTS	Title 24-A - §2304-A. Rate filings	All aspects of pricing must be filed and supported and/or may adopt advisory organization reference filings and filing loss costs multiplier.
Expense Modification Plan		Considered part of rating plan.
Experience Rating		Considered part of rating plan.
Large Deductible		Considered part of rating plan.
Retrospective Rating		Considered part of rating plan.
Schedule Rating		Considered part of rating plan.
Small Deductible		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 filings and filing loss costs multiplier.
Competition	Title 24-A - §2306. Disapproval of filing	May support filing by citing specific competitors filing.
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 and loss costs multiplier calculation should reflect experience of insurer.
Judgment	Title 24-A - §2303. Making of rates	Rate or loss costs multiplier calculation should reflect judgment of insurer.
Profit Loading	Title 24-A - §2303. Making of rates	Rate or loss costs multiplier calculation may reflect profit loading and must include consideration for investment income.
RETURN ON EQUITY/DOCUMENT/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
RISK CLASSIFICATION	Title 24-A - §2303. Making of rates	Risks may be grouped by classifications for the establishment of rates and minimum premiums
TRENDING	Title 24-A - §2303. Making of rates Title 24-A - §2304-A. Rate filings	All aspects of pricing must be filed and supported by experience and/or may adopt advisory organization reference filing and file loss costs multiplier

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