Publication Date
2023-07-07
effective date
2023-10-19
jurisdiction
Maine Revising Pet Insurance Producer Requirements
Effective October 19, 2023, Maine has revised Pet Insurance Producer requirements for Residents and Non Residents.
Producers who sell, solicit, or negotiate pet insurance products are subject to the requirements below. a.   A producer must be appropriately licensed and complete training covering the following topics:           I.   preexisting conditions and waiting periods;          II.   the differences between pet insurance and                noninsurance wellness programs;         III.   hereditary disorders, congenital anomalies or                disorders and chronic conditions and how pet                insurance policies interact with those conditions or                disorders; and          IV.   rating, underwriting, renewal, and other related                administrative topics. b.   An insurer must ensure that any producer holding an appointment has been appropriately trained on the features of any pet insurance product offered by the producer. c.   A person licensed in any of the following lines of authority may sell, solicit, and negotiate pet insurance:           I.   property;          II.   accident and health or sickness; or         III.   personal lines.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.
icon
analyzed
icon
pending
icon
effective
info
This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
Licensing

Future-Proof Your Business

Get a Demo