MAINE INSURANCE - QUESTIONS
FREQUENTLY MISSED QUESTIONS AND
ANSWERS ELABORATION
s
How much time does a person who was a party to a hearing have to appeal the order by the
Superintendent? - 30 days
As a prerequisite to maintaining a license, licensees must complete a continuing education requirement
every: - 2 years
If Jerry's insurance producer's license expires, how much time does he have to be reinstated without
retaking the Maine insurance licensing examination? - 2 years
What is the maximum life insurance death benefit liability to the Maine Life and Health Guaranty
Association for an individual? - 300,000
If an insurance producer, changes their business address, how much time does she have to inform the
Superintendent? - 30 days
What is the maximum prison sentence for someone who continues to be involved in the insurance
business after their insurance producer license has been suspended? - 6 months
How much time does an insurance licensee have to apply a received premium? - 30 days
What is the minimum civil penalty for a corporation convicted of an insurance law violation? - 2000
If an insurance producer, changes their business telephone number, how much time does she have to
inform the Superintendent? - 30 days
, What is the maximum major medical insurance liability to the Maine Life and Health Guaranty
Association for an individual? - 500,000
How much time does a person who was NOT a party to a hearing have to appeal the order by the
Superintendent? - 40 days
What is the maximum civil penalty for a corporation convicted of an insurance law violation? - 15,000
How much time does a producer who fails to pay their licensing fee have to pay before their license is
suspended? - 90 days
How many days does an insurer have to inform the Superintendent of a producer's termination? - 30
days
If an insurance producer, changes their business telephone number, how much time does she have to
inform the Superintendent? - 30 days
How much time does an insured normally have to file a notice of claim with their insurer after a health
occurrence? - 20 days
If the Superintendent fails to act, how much time does someone have to file an appeal? - 6 months
Within how many days after informing the Superintendent of a producer's termination does the insurer
have to inform the producer? - 15 days
The Superintendent may not issue a license to a person whose license has been revoked for at least: - 1
year
What is the maximum annuity benefit liability to the Maine Life and Health Guaranty Association for an
individual? - 250k
FREQUENTLY MISSED QUESTIONS AND
ANSWERS ELABORATION
s
How much time does a person who was a party to a hearing have to appeal the order by the
Superintendent? - 30 days
As a prerequisite to maintaining a license, licensees must complete a continuing education requirement
every: - 2 years
If Jerry's insurance producer's license expires, how much time does he have to be reinstated without
retaking the Maine insurance licensing examination? - 2 years
What is the maximum life insurance death benefit liability to the Maine Life and Health Guaranty
Association for an individual? - 300,000
If an insurance producer, changes their business address, how much time does she have to inform the
Superintendent? - 30 days
What is the maximum prison sentence for someone who continues to be involved in the insurance
business after their insurance producer license has been suspended? - 6 months
How much time does an insurance licensee have to apply a received premium? - 30 days
What is the minimum civil penalty for a corporation convicted of an insurance law violation? - 2000
If an insurance producer, changes their business telephone number, how much time does she have to
inform the Superintendent? - 30 days
, What is the maximum major medical insurance liability to the Maine Life and Health Guaranty
Association for an individual? - 500,000
How much time does a person who was NOT a party to a hearing have to appeal the order by the
Superintendent? - 40 days
What is the maximum civil penalty for a corporation convicted of an insurance law violation? - 15,000
How much time does a producer who fails to pay their licensing fee have to pay before their license is
suspended? - 90 days
How many days does an insurer have to inform the Superintendent of a producer's termination? - 30
days
If an insurance producer, changes their business telephone number, how much time does she have to
inform the Superintendent? - 30 days
How much time does an insured normally have to file a notice of claim with their insurer after a health
occurrence? - 20 days
If the Superintendent fails to act, how much time does someone have to file an appeal? - 6 months
Within how many days after informing the Superintendent of a producer's termination does the insurer
have to inform the producer? - 15 days
The Superintendent may not issue a license to a person whose license has been revoked for at least: - 1
year
What is the maximum annuity benefit liability to the Maine Life and Health Guaranty Association for an
individual? - 250k
