The Maine Bureau of Insurance, or MEBOI for short, is responsible for a wide variety of insurance-related tasks in the commonwealth of Maine. According to an online statement, “The mission of the Maine Bureau of Insurance is to regulate the insurance industry for solvency and consumer protection.” The Maine Bureau of Insurance’s website hosts a plethora of useful information for not only the average Maine insurance consumer, but for both insurance agents and companies as well.

Maine’s Bureau of Insurance helps their state’s consumers by offering consumer information and participating in programs to help protect them. Satisfaction surveys and complaint forms are easily filled out and submitted to help the MEBOI launch investigations. Publications, both in English and Spanish, are found on the website that inform consumers on auto, health, home & life insurance. Special topics, such as financial privacy rights, can also be located within this section.

A comprehensive licensee search has also been placed on the website to allow any one to search all licensed insurance professionals and companies that deal with Maine insurance. A wealth of information on how to register and apply for a license is also found in a similar section.

Many services for both the companies and agents are offered by the Maine Bureau of Insurance. Services for insurance companies include fee schedules, reporting requirements and tax information, form filing review checklists, as well as full listings of authorized insurance companies within the state of Maine. The services for the insurance producers and agents slightly differ, with an additional section on education and insurance exams and different listings.

Resources for employers on how to handle insurance-related tasks are also offered by the Maine Bureau, including electronic health claims submissions and information on workers’ compensation. Insurance laws, rules & decisions are also posted for easy reference. Bulletins offer news on current insurance topics in the state of Maine, while a FAQs section answers common questions spanning the entire insurance industry.

According to a press release dated April 3, 2008, the Maine Bureau of Insurance has fined MEGA Life and Health Insurance $1 million and requested they pay back $4.6 million, plus interest, to consumers for improperly determining insurance premiums. The MEBOI seems very proficient and successful when it comes to investigating fraudulent claims and providing justice within the right context.

In addition to standing up for the consumers, the Maine Bureau of Insurance truly does do a great job in ensuring a stable insurance environment for the residents of Maine while providing fair practice for both insurance companies and agents.