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This document is a Consent Agreement authorized by 5 M.R.S.A. § 9053(2) entered into by and among Prudential Insurance Company of America (hereafter "Prudential") and the Superintendent of the Maine Bureau of Insurance (hereafter also the "Superintendent"). The purpose is to resolve, without resort to an adjudicatory proceeding, issues relative to a Bureau Staff consumer complaint investigation. FACTS 1. Prudential is licensed as an insurance company pursuant to the laws of the State of Maine. 2. The Superintendent of Insurance is the official charged with administering and enforcing Maine’s insurance laws and regulations. 3. Title 24-A M.R.S.A. § 220(2) states as follows: "All insurers and other persons required to be licensed pursuant to this Title shall respond to all lawful inquiries of the superintendent that relate to resolution of consumer complaints involving the licensee within 14 days of receipt of the inquiry and to all other lawful inquiries of the superintendent within 30 days of receipt." 4. On November 23, 1998, Bureau Staff wrote to Prudential inquiring after a consumer complaint by Maine Heart Surgical Associates. 5. On January 6, 1999, Bureau Staff sent a certified letter to Prudential apprising the company of its continuing failure to respond.
Consent Agreement _____________________________________________________________________ 6. As of March 9, 1999, Bureau Staff had received no response from Prudential.
CONCLUSIONS OF LAW 7. Prudential acknowledges its failure to respond to one or more lawful inquiries of the Superintendent within the statutorily mandated time period as required by Title 24- A M.R.S.A. §220(2). COVENANTS 8. A formal hearing in this matter is waived and no appeal will be made. 9. At the time of executing this Agreement, Prudential will pay to the Maine Bureau of Insurance a penalty in the amount of four hundred dollars ($400.00) payable to the Treasurer of the State of Maine. 10. At the time of executing this Agreement, Prudential will provide the response requested in paragraph 4 above. 11. In consideration of Prudential’s execution of and compliance with the terms of this Consent Agreement, the Superintendent of Insurance agrees to forgo pursuing any disciplinary measures or other civil sanction for the actions described in paragraphs other than those agreed to in this Consent Agreement.
MISCELLANEOUS 12. Prudential understands and acknowledges that this Agreement will constitute a public record within the meaning of 1 M.R.S.A. § 402, and will be available for public inspection and copying as provided for by 1 M.R.S.A. § 408. 13. It is understood by the parties to this Agreement that nothing herein shall affect any rights or interests that any person not a party to this Agreement may possess.
Consent Agreement _____________________________________________________________________ 14. This Consent Agreement may only be modified by the written consent of the parties. 15. Prudential has been advised of its right to consult with counsel and has, in fact, consulted with counsel before executing this Agreement.
Dated: _____________, 1999 For: Prudential Insurance Company of America By: ________________________________ ________________________________ ________________________________
Subscribed and sworn to before me this ________ day of _____________________, 1999
______________________________
Consent Agreement _____________________________________________________________________
Dated: ___________, 1999 ________________________________
Subscribed and sworn to before me this _____ day of __________, 1999
______________________ STATE OF MAINE
Dated: ___________, 1999 ________________________________
Last Updated: August 22, 2012 |
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