Insurance License Hub

The Maine Third Party Administrator license

Third Party Administrator

Collects premiums or settles claims on somebody else's coverage. Maine's statute calls the holder an administrator and the Bureau's own list calls it a third party administrator. The bond scales with the money passing through, and the license dies the moment the bond lapses.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 File the application and the bond

    No state exam for this license

    What the application has to carry

    • The names, addresses and official positions of everybody responsible for the conduct of the administrator's affairs, including every member of the board of directors, board of trustees, executive committee or other governing board, the principal officers of a corporation or the partners of a partnership; the specific type of business the administrator will engage in; and the application fee at 601(18)

    and the fidelity bond, sized by the money held

    • A fidelity bond in favor of the Treasurer of State, continuous in form, from a surety company authorized in Maine, at the greater of $50,000 or 5% of the contributions and premiums projected to pass through the administrative trust fund and 5% of the claims and claim expenses projected to be held in the claims and settlement account for Maine residents in the coming year, capped at $1,000,000, plus a surety bond at the superintendent's discretion

    Maine calls this an administrator rather than a third-party administrator, and its own list of licensees uses both names on the same page. 1902 makes the license a precondition of acting or of professing to act as one and adds a criminal penalty for going without, a fine of $100 to $1,000 or imprisonment for less than a year or both, which is heavier than anything attached to producing without a license here. 1901(1) is the definition and the exclusions are where the work is: fourteen of them, running from an employer administering its own employees' plan to a licensed Maine adjuster "whose activities are limited to the adjustment of claims" and a licensed agent or broker "whose activities are limited to the scope of that license", so holding another Maine license and staying inside it is the commonest reason not to need this one. 1905(2) makes the license name the business types the holder may engage in, and 1905(5) requires a fresh application to amend them, so the scope is on the certificate rather than in the statute. There is no examination, no course and no net worth test. What there is instead is the bond at 1904, and it is unusual in three ways: it is a fidelity bond rather than a surety bond, with the surety bond left to the superintendent's discretion on top; it is sized by projection of the coming year's money rather than by a flat figure, at 5% of the trust fund and 5% of the claims account with a $50,000 floor and a $1,000,000 ceiling; and 1904(3) makes the consequence of losing it automatic, "The administrator's license automatically terminates if the bond required by this section is not in force", with the license to be returned for cancellation within 30 days. 1905(1) also lets the superintendent buy a credit and investigative report on the applicant from an independent agency and charge the applicant a flat amount for it, with the contents confidential. The fee is $100 to issue and $100 a year at 601(18).

    Read at legislature.maine.gov on 2026-08-19

No national seller sells a course for this license. Nothing could: 1903 lists what the application must carry and none of it is an examination or a course. The qualification that costs money here is the fidelity bond at 1904, sized at 5% of the money projected to pass through in the coming year.