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In Re ACCELERATION NATIONAL
INSURANCE COMPANY


DOCKET NO. INS-01-2505

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ORDER OF SUSPENSION

 

On March 7, 2001, the Superintendent issued an interim order suspending the Maine certificate of authority of Acceleration National Insurance Company, pursuant to 24-A M.R.S.A. § 417(3), because Acceleration National has been placed in liquidation by the State of Ohio.

The Liquidator has advised the Superintendent that Acceleration National does not contest the suspension but does not waive its statutory right to hearing. Accordingly, the Superintendent convened an adjudicatory hearing to determine whether the suspension should remain in force, pursuant to 24-A M.R.S.A. § 417(3), and provided written notice to Acceleration National in the interim order of suspension. The Superintendent appointed Bureau of Insurance Attorney Robert Alan Wake to hear and decide this case pursuant to 24-A M.R.S.A. § 210.

The hearing was held as scheduled at 9:00 a.m. on March 22, 2001. Acceleration National did not appear. Bureau of Insurance Director of Financial Analysis Enya Carter appeared and provided a copy of the interim order of suspension and a copy of the Final Order of Liquidation issued by the Franklin County (Ohio) Court of Common Pleas, Covington, Rehabilitator v. Acceleration National Ins. Co., No. 00CVH 11-10534 (McGrath, J.), Feb. 28, 2001.

Pursuant to 5 M.R.S.A. § 9058(1), the Superintendent hereby takes official notice of the Final Order of Liquidation, and accordingly finds that good and sufficient cause exists for suspending Acceleration National’s certificate of authority pursuant to 24-A M.R.S.A. § 417(3).

It is therefore ORDERED that Acceleration National Insurance Company’s certificate of authority to transact insurance in Maine shall remain SUSPENDED indefinitely. Pursuant to 24-A M.R.S.A. §§ 229 and 419(1), Acceleration National Insurance Company may at any time file with the Superintendent a request to lift the suspension upon a showing that valid grounds for suspension no longer exist, and may petition for an adjudicatory hearing if the request to lift the suspension is denied.

This Decision and Order is a final agency action of the Superintendent of Insurance within the meaning of the Maine Administrative Procedure Act. It is appealable to the Superior Court in the manner provided in 24-A M.R.S.A. § 236 (2000) and M.R. Civ. P. 80C. Any party to the hearing may initiate an appeal within thirty days after receiving this notice. Any aggrieved non-party whose interests are substantially and directly affected by the Superintendent’s decision may initiate an appeal on or before May 1, 2001. There is no automatic stay pending appeal; application for stay may be made in the manner provided in 5 M.R.S.A. § 11004.

 

PER ORDER OF THE SUPERINTENDENT OF INSURANCE

 

MARCH 22, 2001 ____________________________
ROBERT ALAN WAKE
DESIGNATED HEARING OFFICER

 


 

 

Last Updated: January 22, 2014