Maine proposes overhaul of surplus lines insurer rules

In an earlier notice, the Superintendent of the Maine Bureau of Insurance, within the Department of Professional and Financial Regulation, proposed to repeal Rule 160: “Eligible Surplus Lines Insurers Summary Requirements for Eligibility Status to Transact ‘Export Lines’ of Insurance Regarding Risks Resident Located or to be Performed in Maine.” In its place, the Department would adopt Rule Chapter 161: “Surplus Lines Insurers.” The Bureau of Insurance states that the new rule will replace Rule 160 and update provisions relating to surplus lines insurers to reflect changes made in statute by PL 2025, Chapter 53 (LD 1837); a measure signed on June 17, 2025 as Public Law 2025, Chapter 348, including the repeal and replacement of 24-A M.R.S. § 2009 revising Maine’s surplus lines notice requirements, effective September 24, 2025.