Order of United Commercial Travelers of America - Producer Services : Bureau of Insurance

INFORMATION FOR INSURANCE PRODUCERS (LIFE AND HEALTH)
July 2008

The Order of United Commercial Travelers of America (UCT), an Ohio-based fraternal benefit society, has stopped writing new business in Maine, effective July 1, 2008.

UCT’s primary line of business in Maine is Medicare supplement coverage.

The Bureau of Insurance is not able to provide additional information at this time because this is an ongoing case.

If you are a producer and have pending applications with UCT, please contact Arthur G. Hosford, staff attorney at 207-624-8429 or via email Arthur.G.Hosford.Jr@Maine.gov.

Consumers should contact Glenn Griswold, Director of Consumer Healthcare Division at 207‑624-8494 or via email at Glenn.J.Griswold@Maine.gov or 1-800-300-5000.

General reminder about insurance coverage through a fraternal:

Under Maine’s state insurance law, fraternal benefit societies are subject to reduced financial requirements compared to traditional insurers. Some fraternals are not rated by A.M. Best or similar financial rating institutions.
Unlike coverage through an insurance company, coverage provided by a fraternal is not covered by a guaranty fund. This means that if a fraternal cannot pay claims because it is bankrupt, the enrolled person will be responsible for paying claims that should have been paid by the fraternal.
Fraternal benefits are assessable. This means that if the fraternal cannot pay claims, the members –persons with coverage through the fraternal – may be required to pay their proportional share of the deficiency.

For additional information, see Letter to Residents Appointed with Fraternal Benefit Societies.

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