24-A §3702. Definitions - Maine Statutes

Title 24-A: MAINE INSURANCE CODE

Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY HEADING: PL 1991, C. 615, PT. D, §1 (NEW)

§3702. Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [1991, c. 615, Pt. D, §1 (NEW).]

1. Board. "Board" means the Board of Directors of the Maine Employers' Mutual Insurance Company.

[ 1991, c. 615, Pt. D, §1 (NEW) .]

2. Company. "Company" means the Maine Employers' Mutual Insurance Company created in section 3703.

[ 1991, c. 615, Pt. D, §1 (NEW) .]

3. Division.

[ 2001, c. 350, §2 (RP) .]

3-A. Maine-based employer. "Maine-based employer" means an employer with a principal place of business located in this State.

[ 1995, c. 551, §3 (NEW) .]

4. Superintendent. "Superintendent" means the Superintendent of Insurance.

[ 1991, c. 885, Pt. C, §2 (NEW) .]

5. Voluntary market. "Voluntary market" means the workers' compensation insurance market in which insurance companies voluntarily offer coverage to applicants who meet the insurers' underwriting standards or guidelines.

[ 1991, c. 885, Pt. C, §2 (NEW) .]

6. Workers' compensation residual market mechanism. "Workers' compensation residual market mechanism" means the instrument to provide coverage to employers not able to obtain coverage in the voluntary market that immediately preceded the Maine Employers' Mutual Insurance Company.

[ 2001, c. 350, §3 (AMD) .]

SECTION HISTORY

1991, c. 615, §D1 (NEW). 1991, c. 885, §C2 (AMD). 1995, c. 551, §3 (AMD). 1997, c. 661, §2 (AMD). 2001, c. 350, §§2,3 (AMD).