Maine Revised Statutes Title 24-A Sec. 2392 – Definitions
[PL 1995, c. 289, §11 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 2392
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the Maine Insurance Guaranty Association. See Maine Revised Statutes Title 24-A Sec. 2392
- Board: means the governing board of the Maine Workers' Compensation Residual Market Pool. See Maine Revised Statutes Title 24-A Sec. 2392
- Delinquent insurer: means an insurer that has not timely paid in full that insurer's allocated share pursuant to section 2393, subsection 1, paragraph A, subparagraphs (1) or (2) or section 2393, subsection 1, paragraph B, subparagraphs (1) to (5), except as provided in section 2393, subsection 1, paragraph A, subparagraph (3), division (d) and section 2393, subsection 1, paragraph B, subparagraph (6), division (d). See Maine Revised Statutes Title 24-A Sec. 2392
- Employer: means any employer in the State that, at any time relevant under this chapter, is required under the Workers' Compensation Act to secure workers' compensation benefits for its employees. See Maine Revised Statutes Title 24-A Sec. 2392
- Expense constant: means a premium charge approved by the superintendent that applies to every policy, in addition to other premium charges, covering expenses such as those for issuing, recording and auditing that are common to all workers' compensation policies regardless of premium size. See Maine Revised Statutes Title 24-A Sec. 2392
- Fresh start period: means the period from January 1, 1988 to December 31, 1992. See Maine Revised Statutes Title 24-A Sec. 2392
- Initial surcharge period: means the period from July 1, 1995 to June 30, 2003. See Maine Revised Statutes Title 24-A Sec. 2392
- Insured employer: means an employer in the State that, on or after July 1, 1995, secures or continues to secure workers' compensation benefits under the Workers' Compensation Act for its employees through the purchase of an insurance policy. See Maine Revised Statutes Title 24-A Sec. 2392
- Insurer: means every insurer or group of affiliated insurers authorized to provide workers' compensation insurance in the State at any time during the fresh start period. See Maine Revised Statutes Title 24-A Sec. 2392
- Large deductible policy: means a workers' compensation policy written with a per occurrence deductible in excess of $5,000 or a medical deductible in excess of $500. See Maine Revised Statutes Title 24-A Sec. 2392
- Major insurer: means any insurer that was designated by the superintendent as a servicing carrier in the workers' compensation residual market in the State as of October 1, 1986. See Maine Revised Statutes Title 24-A Sec. 2392
- manual premium: means the workers' compensation premium that would have been applicable to the individual self-insured employer if calculated using the advisory loss costs in effect at the time the surcharge is due multiplied by 1. See Maine Revised Statutes Title 24-A Sec. 2392
- Minor insurer: means any insurer other than a major insurer. See Maine Revised Statutes Title 24-A Sec. 2392
- Net direct written premium: means the Maine direct gross premiums charged less all return premiums, except dividends and savings refunded under participating policies, returned to policyholders for all Workers' Compensation and Occupational Disease Insurance written in this State. See Maine Revised Statutes Title 24-A Sec. 2392
- Plan year: means , for an employer, the period beginning on the self-insured employer's plan approval or renewal date and ending the day before the next plan renewal or anniversary date. See Maine Revised Statutes Title 24-A Sec. 2392
- Policy year: means the following:
[PL 1995, c. 289, §11 (NEW).]
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[PL 1995, c. 619, §1 (NEW); PL 1995, c. 619, §8 (AFF).]
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[PL 1995, c. 289, §11 (NEW).]
[PL 1995, c. 289, §11 (NEW).]
[PL 1995, c. 289, §11 (NEW).]
[PL 1995, c. 289, §11 (NEW).]
[PL 1995, c. 289, §11 (NEW).]
[PL 1995, c. 289, §11 (NEW).]