02-031-470 Me. Code R. § 5
Current through 2025-03, January 15, 2025
If the insurer has not established the final premium 120 days after the policy period ends, or any extension pursuant to Section 7 below, the insurer is prohibited from billing or collecting any additional premium exceeding the latest billed premium immediately prior to the 120-day time limit. However, if the insurer has failed to perform a final premium audit within the 120-day time limit, the insured, upon written request to the insurer, is entitled to a final premium audit for the purpose of determining if the insured has been overcharged.
02-031 C.M.R. ch. 470, § 5