Get Started

Directors and Officers (D&O) Insurance in Maine

Maine treats corporations formed before its Business Corporation Act took effect as having an articles-based director monetary-liability limit unless later amended; newer corporations can adopt a similar provision in their articles. Confirm the company’s formation date, filed charter, and incorporation jurisdiction before comparing that protection with D&O terms. 1,2

What Is Directors And Officers?

D&O insurance can help pay covered defense costs and losses from claims against company leaders over management decisions. If your organization has a board or executives, check whether the company itself is insured and whether legal bills reduce the limit. Read the national Directors and officers guide.

What to Watch for in Maine

  • Formation Date Changes the Charter Review

    Maine’s transition rule deems the articles of a corporation formed before the Business Corporation Act’s effective date to contain the permitted director-liability limit; later amendments can repeal or narrow it for later conduct. For a newer company, verify whether its articles adopted the provision at all. 1

  • Articles Cannot Remove the Listed Exceptions

    A Maine articles clause cannot eliminate liability for an unauthorized financial benefit, intentional harm, a violation of § 13-C-833, or an intentional criminal-law violation. Ask how the policy handles those claims and whether it distinguishes director from officer capacity. 1

  • A Court Can Allow Expenses After an Adverse Finding

    Under § 13-C-855, a court may order indemnification or advance expenses when fair and reasonable; after a director is adjudged liable in a specified proceeding, indemnification is limited to reasonable expenses. Ask when the policy advances defense costs while that request is pending. 2

Who Regulates Insurance in Maine

Maine Bureau of Insurance

The Maine Bureau of Insurance licenses producers and companies, enforces Maine insurance laws, and investigates property and casualty complaints including commercial coverage complaints. You can use its state lookup or complaint service to check a license or raise an insurance issue. 3,4,5

Surplus-lines tax and stamping office

Reported tax rate: 3% of gross direct premium when Maine is the insured's home state Maine charges 3% of gross direct premium when it is the insured's home state; your broker handles the tax and may include it with the premium. Surplus-lines policies are outside Maine guaranty-association protection. Maine generally requires a diligent search, with an exempt-commercial-purchaser exception requiring broker disclosure and the purchaser's written request. 6,7,8

Providers With Documented State Licenses

These providers publish a national listing for Directors and officers; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Maine. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • CoalitionCoalition Insurance Solutions, Inc.Insurance producer, Surplus-lines broker · checked 2026-09-28Coalition’s license page lists producer and surplus-lines licenses for Coalition Insurance Solutions, Inc. in all 50 states and the District of Columbia. The page separately lists insurers; this record covers the brokerage entity only. 10
  • CorgiCorgi Insurance Services, Inc.Insurance producer · checked 2026-09-28Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. 11
  • TechInsuranceSpecialty Program Group LLCInsurance producer · checked 2026-09-28TechInsurance’s current licensing page names Specialty Program Group LLC / SPG Insurance Solutions and lists state license numbers, but labels Rhode Island “Individual licenses” rather than identifying a license for the named agency. RI is omitted because this disclosure does not establish agency authority there; this is a search limitation, not an assertion that the company is unlicensed. The remaining state entries are company-reported and are not an insurance product availability map. 14
  • VouchVouch Specialty Insurance Services, LLCInsurance producer, Surplus-lines broker · checked 2026-09-28Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. 15

Questions to Ask Before You Buy in Maine

  1. Was the corporation formed before the Maine Business Corporation Act took effect, and have its articles changed since?
  2. Does the policy treat the four statutory carveouts differently from claims within the articles limit?
  3. Will the insurer advance defense costs while a court considers indemnification after an adverse finding?

Directors And Officers in Maine: FAQ

Do older Maine corporations have a director-liability limit in their articles by default? 1

Yes. The transition provision deems the articles of a corporation formed before the Business Corporation Act took effect to include the permitted director monetary-liability limit, unless later amended to repeal or restrict it for later conduct. 1

Can a Maine court order indemnification after a director is found liable? 2

Yes. A court may order indemnification or an expense advance if fair and reasonable, but after a specified adverse adjudication the director’s indemnification is limited to reasonable expenses. 2

Directors And Officers in Other States

Other Coverage in Maine

Sources

  1. Maine Revised Statutes, Title 13-C, Chapter 2: Incorporation. Maine Legislature, Office of the Revisor of Statutes; § 202(2)(D), (4), optional liability provision, exceptions, and transition rule for pre-Act corporations. Accessed 2026-09-28.
  2. Maine Revised Statutes, Title 13-C, Chapter 8: Directors and Officers. Maine Legislature, Office of the Revisor of Statutes; §§ 852(4), 855, indemnification restrictions and court-ordered relief. Accessed 2026-09-28.
  3. Maine Bureau of Insurance. Maine Bureau of Insurance; Homepage and commercial insurance resources. Accessed 2026-09-28.
  4. Insurance License Lookup. Maine Bureau of Insurance; State-designated producer/company search. Accessed 2026-09-28.
  5. File an Insurance Complaint. Maine Bureau of Insurance; State complaint process and contact. Accessed 2026-09-28.
  6. 36 M.R.S. §2531. Maine Legislature; 36 M.R.S. §2531(1)-(2), current page: home-state basis; 3% tax; producer pays on chapter 19 surplus lines. Accessed 2026-09-28.
  7. 24-A M.R.S. §4433. Maine Legislature; Surplus-lines contracts excluded from guaranty association. Accessed 2026-09-28.
  8. 24-A M.R.S. §2002-A. Maine Legislature; ECP disclosure and written-request procedure. Accessed 2026-09-28.
  9. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  10. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  11. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  12. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  13. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
  14. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
  15. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

Get Help With Insurance Buying and Renewals.

Get help buying coverage and managing renewals, with less paperwork for your team. Start with a free consultation.

Talk to Spot