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By Order dated July 10, 2007, the Maine Superintendent of Insurance, through his designated hearing officer Bureau of Insurance Attorney Pamela Stutch, granted a limited waiver to Katherine T. Lord of Chesterville, Maine, to participate in the business of insurance pursuant to 18 United States Code § 1033. The Order limited Ms. Lord’s participation in the business of insurance to the position of Marketing Manager at Pinetree Retirement Planning, P.A., (“Pinetree”) as described in the job description made a part of her waiver application. The Order further permitted Ms. Lord to be employed at Pinetree in such other capacity as would not require her to engage in cash processing or allow her access to premium collections. The Order stated that should Ms. Lord seek employment in the business of insurance in any manner other than as described therein, she would seek a further waiver from the Maine Bureau of Insurance or from the insurance regulatory official in the state or territory where she is employed, if not Maine at that time.
By facsimile received by the Maine Bureau of Insurance on October 5, 2007, Ms. Lord petitioned to have the Order revised to permit her to sell insurance products to the general public on behalf of Pinetree. Melinda L. Small, President of Pinetree, submitted a letter dated October 18, 2007, in support of the petition. Ms. Small’s letter, in addition to Ms. Lord’s petition, are hereby incorporated into the hearing record in this matter.
Ms. Small confirmed that in her new position, Ms. Lord would be an Insurance Agent (producer) for Pinetree. She stated that all client applications are submitted and reviewed directly by Pinetree, agents are not allowed to receive or accept cash payments, any withdrawals of annuities are sent directly to clients, and that she would personally conduct one-on-one meetings with Ms. Lord. She noted that Pinetree conducts periodic client reviews to monitor its agents and to ensure compliance with Pinetree’s standards and customer satisfaction and that Ms. Lord would be subject to these same reviews.
In light of the additional information submitted, this office finds that Ms. Lord has satisfactorily demonstrated that she is entitled to a waiver of the prohibition of employment in the insurance industry provided for in 18 U.S.C. §1033 to allow her to work as a licensed Insurance Producer at Pinetree. Accordingly, this office grants Ms. Lord a limited waiver subject to conditions noted below.
The Order dated July 10, 2007, is vacated and pursuant to 18 U.S.C. §1033, (e)(2), Katherine T. Lord of Chesterville, Maine, is hereby granted a waiver to engage in the business of insurance subject to the following limitations and conditions:
In the event that Ms. Lord seeks or intends to engage in the business of insurance in any manner other than as described in (1) and (2), above, she will seek a further waiver from this office or from the insurance regulatory official in the state or territory where she will be employed.
This Revised Waiver is effective as of October 29, 2007.
Notice of Appeal Rights
This Order is a final agency action of the Superintendent of Insurance within the meaning of the Maine Administrative Procedure Act. It may be appealed to the Superior Court in the manner provided in 24-A M.R.S.A. §236 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 this Order may initiate an appeal on or before 40 days after the date appearing below.
Last Updated: August 22, 2012
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