July 31 UPDATE: Due to a delay in the close of Maine's 2015 legislative, the effective date of the law has become Oct. 15, 2015.
A new law in Maine expressly allows an insurer to cancel a property insurance policy for violation of terms or conditions of the policy. The law becomes effective 90 days after adjournment of the state legislature, which is scheduled for June 17, 2015.
AAIS will be revising certain amendatory endorsements to reflect this change. Program affiliates in affected lines will be notified by bulletin of filing action.
AAIS Advisory notices are posted periodically to announce AAIS product developments, and to provide news items that are relevant to our program users. Advisory notices are news summaries that paraphrase documents which should be consulted directly for complete, authoritative information.