02-031-231 Me. Code R. § 5
An insurer domiciled outside the United States that desires to establish a United States Branch with the State of Maine as its port of entry pursuant to 24-AM.R.S.A. §413-A must submit an application for a Certificate of Authority on the most current Uniform Certificate of Authority Primary Application form, or its successor form, published by the National Association of Insurance Commissioners, or its successor organization, with such modifications as the Superintendent may specify. The Applicant shall provide all information requested therein or explain in writing to the Superintendent why a particular request is inapplicable to a port of entry application. The Applicant shall provide such additional information as the Superintendent may request in the course of reviewing the application, sufficient to demonstrate compliance with the following requirements, except to the extent that particular requirements may be waived or modified by the Superintendent upon a finding that they are not applicable to the circumstances of the application:
The Applicant must hold a valid Certificate of Authority from its jurisdiction of domicile which authorizes it to transact those kinds of insurance it proposes to transact in this State. If the Applicant does not write a significant volume of business in its own jurisdiction of domicile, or operates from a home office outside its jurisdiction of domicile, it must explain the reasons to the satisfaction of the Superintendent.
The Applicant must comply with the requirements of Bureau of Insurance Rule 860, including the establishment of a United States trust account and proof that the account will be adequately funded consistent with the Applicant's business plan for its United States branch.
The Applicant shall not use a business name deceptively similar to that of any insurer currently holding a valid Certificate of Authority. No application will be entertained that proposes to use a name that has been reserved by another business entity with the Superintendent or the Maine Secretary of State, until the period of reservation has expired or the reserved name has been withdrawn.
The Superintendent shall evaluate the Applicant's historic business experience in light of the factors set forth in Subsection 3(E), modified to the extent necessary to give appropriate consideration to the differences between operational practices and financial standards within and outside the United States.
The Applicant must provide proof that it will be able to fulfill its obligations in a sound and responsible manner, in this State and in all other jurisdictions in which the Applicant plans to operate. Factors to be considered by the Superintendent shall include, without limitation:
02-031 C.M.R. ch. 231, § 5