Sec. 1. 29-A MRSA §1601-A, sub-§6 is enacted to read:

6.__Fleet insured with commercial automobile coverage.__A company insuring a fleet of 3 or more vehicles with commercial automobile coverage is exempt from the requirements of this section with respect to that fleet.

For the purposes of this subsection, "commercial automobile coverage" means any coverage provided to an insured, regardless of number of vehicles or entity covered, under a commercial automobile, garage or truckers coverage form and rated according to either a commercial manual or a rating rule as filed with and approved by the Bureau of Insurance.__Vehicle type and ownership are not the primary factors in either underwriting the coverage or rating the coverage.__The rating may be subject to individual risk characteristics, including, but not limited to, experience rating, schedule rating, loss rating and deductible rating.

SUMMARY

This bill exempts the insurer of a fleet of 3 or more vehicles with commercial automobile coverage from the requirement to notify the Secretary of State when insurance is cancelled, terminated or lapsed.