Maine Revised Statutes

Me. Rev. Stat. tit. 24-A, § 4432 (2026)

Purpose

✓ current as of May 2026

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The purpose of this subchapter is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, and to provide an association to assess the cost of such protection among insurers. [PL 1969, c. 561 (NEW).]

SECTION HISTORY

PL 1969, c. 561 (NEW).

Notes of Decisions

Cited in 7 cases, 1990–2007 · leading case: Pinkham v. Morrill, 622 A.2d 90 (Me. 1993).

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Pinkham v. Morrill, 622 A.2d 90 (Me. 1993). · cites it 3× “24-A M.R.S.A. § 4432 (1990) (emphasis added).”

Jackson Brook Inst., Inc. v. Maine Ins. Guar. Ass'n, 2004 ME 140 (Me. 2004). “” 24-A M.R.S.A. § 4432 (2000). In order to effectuate its statutory purpose, the statute is to be liberally construed.”

Ventulett v. Maine Ins. Guar. Ass'n, 583 A.2d 1022 (Me. 1990). “24-A M.R.S.A. § 4432. That “mechanism” is a fund to which member insurers who do business in Maine must contribute in proportion to the premiums they collect here.”

Maine Ins. Guar. Ass'n v. Folsom, 2001 ME 63 (Me. 2001). “24-A M.R.S.A. § 4432 (2000). One of MIGA’s duties is to pay certain “covered claims” against insolvent insurers.”

Liberty Mut. Ins. v. Superintendent of Ins., 1997 ME 22 (Me. 1997). “24-A M.R.SA. § 4432 (1990). The Act also created the Maine Insurance Guaranty Association (MIGA) to effectuate the purposes of the Act.”

Belanger v. North Am. Specialty Ins., 504 F.3d 147 (1st Cir. 2007). · cites it 2× “See 24-A M.R.S.A. § 4432. Certain types of insurers are required to join MIGA and pay assessments to the Association as a condition of doing business in Maine.”

Purcell v. Mehlhorn (Me. Super. Ct 2007). · cites it 2× “" 24-A M.R.S.A. § 4432 (2007). The Legislature has stated that the provisions of the MICA Act are to be liberally construed in accord with this purpose.”

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