reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-A - Insurance Department › Section 400-A:68 - Redundancy Elimination Report.

[RSA 400-A:68 repealed by 2023, 79:400, effective October 1, 2024.]
400-A:68 Redundancy Elimination Report. –
The department of insurance, in collaboration with the prescription drug affordability board established in RSA 126-BB, shall issue a report on the elimination of redundancies related to the collection, analysis, and reporting on prescription drug prices between the two organizations, including proposed legislation on such elimination, with the overarching goal of promoting efficiency and economy. This report shall be submitted to the health and human services oversight committee established in RSA 126-A:13, the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before October 1, 2024.
Source.
2023, 79:399, eff. July 1, 2023.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:1 - Purpose.

400-B:1 Purpose. –
The intent of this chapter is to provide clear record retention and production instruction to entities licensed by the department.
Source.
2005, 221:1, eff. Sept. 3, 2005.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:2 - Definitions.

400-B:2 Definitions. –
All definitions contained in RSA 417 are hereby incorporated by reference. In addition, for the purposes of this chapter:
I. "Application and accompanying records" means any written or electronic application form, any enrollment form, any document or record thereof, used to add coverage under any existing policy, questionnaire, telephone interview form, paramedical interview form, or any other document used to question or underwrite an applicant for any policy issued by an insurer or for any declination of coverage by an insurer.
II. "Claim file and accompanying records" means the file maintained to show clearly the inception, handling, and disposition of each claim. The claim file shall be sufficiently clear and specific so that pertinent events and dates of these events can be reconstructed.
III. "Complaint" means any written or electronically transmitted communication primarily expressing a grievance.
IV. "Declination" or "declined underwriting file" means all written or electronic records concerning coverage for which an application has been submitted to the insurer or its producer but the insurer has made a determination not to issue a policy or not to add additional coverage when requested.
V. "Department" means the insurance department.
VI. "Examiner" means a market conduct examiner or any other examiner authorized or designated by the commissioner to conduct an examination pursuant to this chapter.
VII. "Grievance" for health insurance purposes, means a written complaint submitted by or on behalf of a covered person regarding the:
(a) Availability, delivery, or quality of health services, including a complaint regarding an adverse determination made pursuant to utilization review;
(b) Claims payment, handling, or reimbursement for health care services; or
(c) Matters pertaining to the contractual relationship between a covered person and a health carrier.
VIII. "Inquiry" means a specific question, criticism, or request made in writing to an insurer by an examiner.
IX. "Related entity" includes a person authorized to act on behalf of the insurer in connection with the business of insurance.
Source.
2005, 221:1. 2006, 196:14. 2009, 178:2, eff. Sept. 11, 2009.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:3 - Records Required for Market Conduct Purposes.

400-B:3 Records Required for Market Conduct Purposes. –
I. An insurer or related entity licensed to do business in this state shall maintain its books, records, and documents in a manner so that the commissioner can readily ascertain during an examination the insurer's compliance with state insurance laws and rules and with the standards outlined in the NAIC Market Regulation Handbook, including, but not limited to, company operations and management, policyholder service, marketing, producer licensing, underwriting, rating, complaint/grievance handling, and claims practices.
II. For a health insurer, the insurer or related entity shall maintain its books, records, and documents in a manner so that the practices of the insurer regarding network adequacy, utilization review, quality assessment and improvement, and provider credentialing may be ascertained during a market conduct examination.
III. These records shall be retained for the current year plus 5 years.
IV. The producer of record, if the insurer does not maintain such information, shall maintain a file for each policy sold, and the file shall contain all work papers and written communications in his or her possession pertaining to the policy documented therein. These records shall be retained for the current year plus 5 years.
V. During an examination of the insurer, the insurer shall provide a copy of the written contract entered into with each third party vendor or service provider as requested by an examiner within the time frames set forth in RSA 400-B:10.
Source.
2005, 221:1. 2009, 178:3, eff. Sept. 11, 2009.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:6 - Licensing Records.

400-B:6 Licensing Records. –
Records to be maintained relating to the insurer's compliance with licensing requirements shall include the licensing records of each producer associated with the insurer. Licensing records shall be maintained to show clearly the licensing status of the producer at the time of solicitation, negotiation, or procurement, as well as the dates of the appointments and terminations of each producer. A screen print from the producer database (PDB) may serve to provide adequate proof only of a producer's current licensing status.
Source.
2005, 221:1, eff. Sept. 3, 2005.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:7 - Complaint Records.

400-B:7 Complaint Records. –
The complaint records required to be maintained under RSA 417 shall include a complaint log or register, or grievance log or register for health insurers, in addition to the actual written complaints. The complaint log or register shall show clearly the total number of complaints for the current year plus the immediately preceding 5 years, the classification of each complaint by line of insurance and by complainant, the nature of each complaint, the insurer's disposition of each complaint, the time it took to process each complaint, and the complaint number assigned by the department, if applicable. If the insurer maintains the file in a computer format, the reference in the complaint log or register for locating the documentation shall be an identifier such as the policy number or other code. The codes shall be provided to the examiners at the time of an examination.
Source.
2005, 221:1. 2006, 196:15, eff. July 30, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:8 - Format of Records.

400-B:8 Format of Records. –
I. Any record required to be maintained by an insurer may be created and stored in the form of paper, photograph, magnetic, mechanical, or electronic medium; or any process that accurately forms a durable reproduction of the record, so long as the record is capable of duplication to a hard copy that is as legible as the original document. Documents that are produced and sent to an insured by use of a template and an electronic mail list shall be considered to be sufficiently reproduced if the insurer can provide proof of mailing of the document and a copy of the template. Documents that require the signature of the insured or insurer's producer shall be maintained in any format listed in this chapter; provided, that evidence of the signature is preserved in that format.
II. The maintenance of records in a computer-based format shall be archival in nature, to preclude the alteration of the record after the initial transfer to a computer format. Upon request of an examiner, all records shall be capable of duplication to a hard copy that is as legible as the original document. The records shall be maintained according to written procedures developed and adhered to by the insurer. The written procedures shall be made available to the commissioner during an examination.
III. Photographs, microfilms, or other image-processing reproductions of records shall be equivalent to the originals and may be certified as the same in actions or proceedings before the commissioner unless inconsistent with RSA 541-A.
Source.
2005, 221:1, eff. Sept. 3, 2005.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:9 - Location of Files.

400-B:9 Location of Files. –
I. All records required to be maintained under this chapter shall be kept in a location that will allow the records to be produced for examination within the time period required. When, under normal circumstances, someone other than the insurer maintains a required record or type of record, the other person's responsibility to maintain the records shall be set forth in a written agreement, a copy of which shall be maintained by the insurer and shall be available to the examiners for purposes of examination.
II. If required by law or otherwise available, the insurer shall maintain disaster preparedness or disaster recovery procedures that include provisions for the maintenance or reconstruction of original or duplicate records at another location. These procedures shall be provided for review during the examination.
Source.
2005, 221:1, eff. Sept. 3, 2005.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:10 - Time Limits to Provide Records and to Respond to Examiners.

400-B:10 Time Limits to Provide Records and to Respond to Examiners. –
I. Initial data requests shall be submitted to a company at least 30 days prior to the commencement of the on-site examination, desk audit, or other form of review to provide ample time for the company to prepare the materials requested by the examining state. Paragraphs II and III shall apply to requests for supplemental data and information not anticipated at the time of the initial request as specified herein.
II. As a means to facilitate the examination and to aid in the examination in accordance with RSA 400-A:37, an insurer shall provide any requested document or written response to an inquiry submitted by an examiner within 10 working days, or such other time period as mutually agreed upon by the examiner and the insurer. When the requested document or response is not produced by the insurer within the specified time period, a violation shall be deemed to have occurred unless the insurer can demonstrate to the satisfaction of the commissioner that the requested record cannot reasonably be provided within the specified time period of the request.
III. Additional records requested by the commissioner shall be made available for the examination upon the date specified by the examiner-in-charge.
Source.
2005, 221:1, eff. Sept. 3, 2005.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:11 - Confidential Materials.

400-B:11 Confidential Materials. –
Original records required to be provided during a market conduct examination shall be returned to the insurer following the examination. If the records relate to an inquiry made by an examiner, copies of the records shall become a part of the work papers of the examination. Examination work papers obtained as part of a market conduct examination are privileged and confidential and not subject to the provisions of RSA 91-A.
Source.
2005, 221:1, eff. Sept. 3, 2005.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:12 - Penalties.

400-B:12 Penalties. –
Any insurer or related entity who knowingly violates any provision of this chapter may, upon hearing, except where other penalty is expressly provided, be subject to suspension or revocation of its certificate of authority or license, and an administrative fine not to exceed $2,500 per violation.
Source.
2008, 153:3, eff. June 6, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 400-B - Market Conduct Record Retention and Production › Section 400-B:13 - Rulemaking.

400-B:13 Rulemaking. –
The commissioner may adopt rules, pursuant to RSA 541-A, as necessary for the purposes of this chapter.
Source.
2015, 91:1, eff. Aug. 4, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:1-a - Purposes; Miscellaneous Insurance.

401:1-a Purposes;  Miscellaneous Insurance. –
I. Any corporation formed or authorized for the purpose of conducting one or more of the kinds of insurance found in RSA 401:1, or licensed or authorized pursuant to RSA 405, shall be permitted to conduct other kinds of insurance not enumerated in RSA 401:1 as the commissioner may permit by rule pursuant to paragraph II below.
II. If the commissioner determines that there exists a kind of insurance which is not enumerated in RSA 401:1 and such kind of insurance is properly the subject of insurance, and is in the public interest, the commissioner may by rule adopted under RSA 541-A permit corporations to conduct said kind or kinds of insurance as miscellaneous insurance. Corporations may conduct miscellaneous insurance in combination with one or more other kinds of insurance specified in RSA 401:1 as permitted by the commissioner. However, no corporation shall conduct a kind of miscellaneous insurance unless that kind of miscellaneous insurance has been specifically permitted by the commissioner.
III. An insurance company or other insurer need not have its physical license or authorization amended to permit it to write a kind of miscellaneous insurance provided the company or other insurer has been notified by the commissioner of a decision made pursuant to paragraph II.
Source.
1983, 15:4, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:2 - Incorporators.

401:2 Incorporators. –
For the formation of such a corporation there shall be not less than 10 incorporators, who shall be residents of this state.
Source.
1917, 80:2. PL 272:2. RL 322:2.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:3 - Capital Stock.

401:3 Capital Stock. –
Such a corporation may have a capital stock or may do business on the mutual plan. No such mutual corporations shall be incorporated after the first of July, 1969, to transact any kinds of insurance business on the assessment plan requiring as a condition for granting insurance the signing of a premium deposit note by the insured, which note is given for the purpose of establishing a limit of liability to assessment. Any such company currently licensed and operating on such plans shall be restricted to the lines of business in which it was engaged on July 1, 1969, provisions of RSA 401:7 notwithstanding.
Source.
1917, 80:3. PL 272:3. RL 322:3. 1947, 182:2. RSA 401:3. 1969, 293:4, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:4 - Paid-up Capital.

401:4 Paid-up Capital. –
All stock companies organized under the provisions of this chapter shall have a paid-up capital of at least $800,000.
Source.
1917, 80:4. PL 272:4. RL 322:4. 1947, 182:3. RSA 401:4. 1965, 51:1. 1969, 283:1, eff. June 25, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:5 - Combinations of Business.

401:5 Combinations of Business. –
Articles of agreement of such a stock or mutual company may provide for the transaction of any combinations of 2 or more kinds of insurance authorized by RSA 401:1 except that specified by paragraph III of said section which may only be combined with insurance specified in paragraph IV or V, or both. The articles of agreement of a mutual company issuing assessable policies may not provide for the transaction of any but the following combinations of business: That specified in paragraph I of RSA 401:1 with that specified in paragraph II; That specified in paragraphs III, IV, and V or any 2 of said paragraphs; That specified in paragraphs IV, V, VI, and VII or in any 2 or more of said paragraphs, unless such company shall have and maintain a policyholders' surplus of at least $400,000.
Source.
1917, 80:5. PL 272:5. 1939, 25:2. RL 322:5. 1947, 182:4. RSA 401:5. 1969, 283:2, eff. June 25, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:6 - Certification of Agreement.

401:6 Certification of Agreement. –
The articles of agreement shall be submitted to the insurance commissioner, who shall examine same. The commissioner shall not approve the articles of agreement of a company until he is satisfied, by such examination as he may make and such evidence as he may require, that: (1) the incorporators are of good repute and intend in good faith to operate the company; (2) the company has capable management; (3) the company has a reasonable prospect for success in the kind or kinds of business which it proposes to transact; (4) the actuarial projections, policy forms, rates, dividends, commissions, and other expenses contemplated as well as reinsurance, market and taxes are sound and reasonable; and (5) the articles of agreement otherwise comply with the law. Upon satisfying himself that the foregoing requirements have been met, the commissioner shall so certify by an endorsement upon said articles of agreement, which shall then be recorded in accordance with the provisions of RSA 293-A:1.20 and RSA 293-A:2.02 provided that copies of the original documents filed with the secretary of state shall also be filed with the insurance commissioner.
Source.
1917, 80:6. PL 272:6. 1937, 24:1. RL 322:6. RSA 401:6. 1969, 283:11. 1983, 15:5. 1992, 255:8, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:7 - Amendment of Charter or Articles of Incorporation.

401:7 Amendment of Charter or Articles of Incorporation. –
Any insurance company organized under the laws of the state, whether by special charter or under the general law, shall be entitled to amend its charter or articles of incorporation, so as to acquire the authority to do any or all kinds of insurance business which corporations organized under the provisions of this chapter are authorized to do, and may otherwise amend its charter or articles, in any manner not inconsistent with this chapter, by a majority vote of all its stock, or, if a mutual company, by a majority vote of those members present and voting, at a meeting called for that purpose. Any such company may, with approval of the commissioner, increase or reduce its capital stock and, subject to the limitations hereinafter provided, may change the par value of the shares of its capital stock at a meeting called for the purpose, by vote of its stockholders as provided by RSA 293-A:10.01 through RSA 293-A:10.09. The par value of the shares of stock of any such company now outstanding or hereafter issued may be such an amount as the commissioner may approve.
Source.
1917, 80:7. PL 272:7. 1933, 145:1. RL 322:7. RSA 401:7. 1955, 6:1. 1983, 15:6. 1992, 255:9, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:8 - Certification of Amendments.

401:8 Certification of Amendments. –
All proposed amendments, duly certified to by the president and secretary of such company, shall be submitted to the commissioner for examination and endorsement of approval in the same manner as provided by this chapter as to the original articles of agreement. Copies of all documents required by this section to be submitted to the commissioner shall be filed with him.
Source.
1917, 80:7. PL 272:8. 1937, 24:2. RL 322:8. RSA 401:8. 1983, 15:7, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:9 - Record.

401:9 Record. –
Such articles of amendment shall thereupon be recorded as provided in RSA 401:6, and shall then be deemed to be part of the charter or articles of the company.
Source.
1917, 80:7. PL 272:9. RL 322:9.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:10 - Applicability of General Corporation Law.

401:10 Applicability of General Corporation Law. –
Insurance corporations organized under the laws of this state, whether by special charter or by the general law, shall be subject to only those provisions of the laws relating to corporations in general that are not inconsistent with the provisions of Title XXXVII, the insurance code.
Source.
1917, 80:9. PL 272:10. RL 322:10. RSA 401:10. 1971, 232:1. 1973, 235:9. 1983, 15:8, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:11 - Merger of Insurance Companies.

401:11 Merger of Insurance Companies. –
I. Subject to the approval of the insurance commissioner as provided by law, any insurance corporation organized under the laws of this state, whether by special charter or under the general law, except mutual insurance companies, may merge or consolidate with any other corporation or corporations in the manner provided in RSA 293-A.
II. Subject to the approval of the insurance commissioner of the plan of merger, any mutual insurance company or other voluntary insurance corporation organized under the laws of this state, whether by special charter or under general law, may merge or consolidate with any like corporation or corporations in the manner provided in RSA 292 and by a majority vote of those members voting in person or by proxy at a meeting called for that purpose.
Source.
1971, 232:2. 1983, 15:9. 2002, 207:31, eff. July 15, 2002.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:12 - Clerk; Registered Agent; Registered Office.

401:12 Clerk;  Registered Agent;  Registered Office. –
In lieu of the provisions of RSA 293-A:8.40(c), every insurer subject to this chapter may have and continuously maintain in this state a clerk who shall be the registered agent of the insurer and who shall be an individual resident of this state whose residence or business office shall be the registered office of the insurer.
Source.
1983, 15:10. 1992, 255:10, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:13 - Officers.

401:13 Officers. –
I. The officers of an insurer who is subject to the provisions of this chapter shall consist of a president, a clerk or secretary who shall be the agent for service of process, and a treasurer, each of whom shall be elected by the board of directors at a time and in a manner as may be prescribed by the bylaws. Such other officers and assistant officers and agents as may be deemed necessary may be elected or appointed by the board of directors or chosen in such other manner as may be prescribed by the bylaws. Any 2 or more offices may be held by the same person.
II. All officers and agents of the insurer, as between themselves and the insurer, shall have the authority to perform the duties in the management of the insurer as may be provided in the bylaws, or as may be determined by resolution of the board of directors not inconsistent with the bylaws.
Source.
1983, 15:10, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:14 - Restated Articles of Incorporation.

401:14 Restated Articles of Incorporation. –
A copy of all restated articles of incorporation to the extent they are adopted shall be filed with the insurance department.
Source.
1983, 15:10, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:15 - Name.

401:15 Name. –
Corporations subject to regulation by the insurance commissioner shall not be subject to the requirements of RSA 293-A:4.01(a)(1) pertaining to the designation of the corporate status and the corporate name but shall be subject to all other provisions of RSA 293-A:4.01, except that any filings, including trade names, shall be subject to the examination by and approval of the insurance commissioner before filing with the secretary of state.
Source.
1983, 15:10. 1992, 255:11, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:16 - Name Reservation.

401:16 Name Reservation. –
I. The reservation of the name of an insurer, including trade names, shall be made by filing an application, executed by the applicant with the insurance commissioner to reserve a specified name, and by paying a fee as set by RSA 400-A:29. If the commissioner finds that the name is available for use, he shall reserve the name for the exclusive use of the applicant for a period of 120 days.
II. The right to the exclusive use of a specified name, including trade names, so reserved may be transferred to any other person or corporation by filing, with the office of the insurance commissioner, a request for the transfer, executed by the applicant for whom the name was reserved, by specifying the name and address of the transferee and other information as required by the insurance commissioner and by paying a fee equal to the original application fee.
Source.
1983, 15:10, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:17 - Perpetual Existence; Presumption.

401:17 Perpetual Existence;  Presumption. –
Unless otherwise expressly approved by the commissioner, all insurance companies or other insurers subject to this chapter shall have perpetual existence.
Source.
1983, 15:10, eff. April 6, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401 - Incorporation and Powers of Insurance Companies › Section 401:18 - Maximum Risk Retention.

401:18 Maximum Risk Retention. –
The maximum net amount of risk which may be retained by a property and liability company for an individual risk shall be no greater than 10 percent of the company's capital and surplus.
Source.
1990, 92:3, eff. June 9, 1990.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:7 - Supervisory Colleges.

401-B:7 Supervisory Colleges. –
I. Power of Commissioner. With respect to any insurer registered under RSA 401-B:4, and in accordance with paragraph III, the commissioner shall also have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this chapter. The powers of the commissioner with respect to supervisory colleges include, but are not limited to, the following:
(a) Initiating the establishment of a supervisory college;
(b) Clarifying the membership and participation of other supervisors in the supervisory college;
(c) Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor;
(d) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and
(e) Establishing a crisis management plan.
II. Expenses. Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the commissioner's participation in a supervisory college in accordance with paragraph III, including reasonable travel expenses. For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the commissioner may establish a regular assessment to the insurer for the payment of these expenses.
III. Supervisory College. In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers in accordance with RSA 401-B:6, the commissioner may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. The commissioner may enter into agreements in accordance with RSA 401-B:8, III providing the basis for cooperation between the commissioner and the other regulatory agencies, and the activities of the supervisory college. Nothing in this section shall delegate to the supervisory college the authority of the commissioner to regulate or supervise the insurer or its affiliates within its jurisdiction.
Source.
2013, 152:1, eff. Jan. 1, 2014.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:9 - Rules and Orders.

401-B:9 Rules and Orders. –
The commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules and orders as shall be necessary to carry out the provisions of this chapter. To assist in the review of any transaction, or to otherwise determine compliance with this chapter, the commissioner may retain, without appropriation under RSA 9 and without qualifying as a department expenditure under RSA 4:15, attorneys, appraisers, independent actuaries, independent certified public accountants, or other professionals and specialists, the cost of which shall be borne by the company subject to such review. The company shall pay the retained professional or specialists directly for their costs. The commissioner shall conduct oversight of such independent reviewers in a manner that is consistent with standards for the use of independent reviewers established by the National Association of Insurance Commissioners in its Financial Condition Examiners Handbook and Market Regulation Handbook and shall ensure that costs are reasonable for the work performed.
Source.
2013, 152:1. 2017, 218:6, eff. July 10, 2017.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:12 - Receivership.

401-B:12 Receivership. –
Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may proceed as provided in RSA 402-C to take possession of the property of such domestic insurer and to conduct its business.
Source.
2013, 152:1, eff. Jan. 1, 2014.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:13 - Recovery.

401-B:13 Recovery. –
I. If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer:
(a) From any parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the amount of distributions (other than distributions of shares of the same class of stock) paid by the insurer on its capital stock; or
(b) Any payment in the form of a bonus, termination settlement, or extraordinary lump sum salary adjustment made by the insurer or its subsidiary to a director, officer or employee, where the distribution or payment pursuant to subparagraphs (a) or (b) is made at any time during the one year preceding the petition for liquidation, conservation or rehabilitation, as the case may be, subject to the limitations of paragraphs II-IV.
II. No distribution shall be recoverable if the parent or affiliate shows that when paid the distribution was lawful and reasonable, and that the insurer did not know and could not reasonably have known that the distribution might adversely affect the ability of the insurer to fulfill its contractual obligations.
III. Any person who was a parent corporation or holding company or a person who otherwise controlled the insurer or affiliate at the time the distributions were paid shall be liable up to the amount of distributions or payments under paragraph I which the person received. Any person who otherwise controlled the insurer at the time the distributions were declared shall be liable up to the amount of distributions that would have been received if they had been paid immediately. If 2 or more persons are liable with respect to the same distributions, they shall be jointly and severally liable.
IV. The maximum amount recoverable under this section shall be the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse any guaranty funds.
V. To the extent that any person liable under paragraph III is insolvent or otherwise fails to pay claims due from it, its parent corporation or holding company or person who otherwise controlled it at the time the distribution was paid shall be jointly and severally liable for any resulting deficiency in the amount recovered from the parent corporation or holding company or person who otherwise controlled it.
Source.
2013, 152:1, eff. Jan. 1, 2014.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:14 - Revocation, Suspension, or Nonrenewal of Insurer's License.

401-B:14 Revocation, Suspension, or Nonrenewal of Insurer's License. –
Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and opportunity to be heard, suspend, revoke or refuse to renew the insurer's license or authority to do business in this state for such period as the commissioner finds is required for the protection of policyholders or the public. Any such determination shall be accompanied by specific findings of fact and conclusions of law.
Source.
2013, 152:1, eff. Jan. 1, 2014.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:15 - Appeal.

401-B:15 Appeal. –
I. Judicial Review, Mandamus. Any person aggrieved by any act, determination, rule, regulation, or order of any other action of the commissioner pursuant to this chapter may appeal in accordance with RSA 541. The court shall conduct its review without a jury and by trial de novo, except that if all parties, including the commissioner, so stipulate, the review shall be confined to the record. Portions of the record may be introduced by stipulation into evidence in a trial de novo as to those parties so stipulating.
II. The filing of an appeal pursuant to this section shall stay the application of any rule, regulation, order, or other action by the commissioner to the appealing party unless the court, after giving the party notice and an opportunity to be heard, determines that a stay would be detrimental to the interest of policyholders, shareholders, creditors or the public.
III. Any person aggrieved by any failure of the commissioner to act or make a determination required by this chapter may petition the Merrimack county superior court for a writ of mandamus or a peremptory mandamus directing the commissioner to act or make a determination.
Source.
2013, 152:1, eff. Jan. 1, 2014.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-B - Insurance Holding Companies › Section 401-B:16 - Time Limits for Agency Action.

401-B:16 Time Limits for Agency Action. –
The time limits specified in this chapter for the commissioner to act on any holding company application, petition, or request and the provisions in this chapter under which an application, petition, or request may or may not be deemed to be approved when the commissioner does not act after a specified period of time shall control, and RSA 541-A:29 and RSA 541-A:29-a shall not apply.
Source.
2018, 279:21, eff. Jan. 1, 2019.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:1 - Purpose and Scope.

401-C:1 Purpose and Scope. –
I. The purpose of this chapter is to provide the requirements for maintaining a risk management framework and completing Own Risk and Solvency Assessment (ORSA) and provide guidance and instructions for filing an ORSA summary report with the insurance commissioner of this state.
II. The requirements of this chapter shall apply to all insurers domiciled in this state unless exempt pursuant to RSA 401-C:6.
III. The general court finds and declares that the ORSA summary report will contain confidential and sensitive information related to an insurer or insurance group's identification of risks material and relevant to the insurer or insurance group filing the report. This information will include proprietary and trade secret information that has the potential for harm and competitive disadvantage to the insurer or insurance group if the information is made public. It is the intent of this chapter that the ORSA summary report shall be a confidential document filed with the commissioner, that the ORSA summary report will be shared only as stated in this chapter and to assist the commissioner in the performance of his or her duties, and that in no event shall the ORSA summary report be subject to public disclosure.
Source.
2013, 152:2, eff. Jan. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:2 - Definitions.

401-C:2 Definitions. –
In this chapter:
I. For the purpose of conducting an ORSA, "insurance group" means those insurers and affiliates included within an insurance holding company system as defined in RSA 401-B.
II. "Insurer" shall have the same meaning as set forth in RSA 401-C:2, except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.
III. "Own risk and solvency assessment" or "ORSA" means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurance group's current business plan, and the sufficiency of capital resources to support those risks.
IV. "ORSA guidance manual" means the current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the National Association of Insurance Commissioners (NAIC) and as amended from time to time. A change in the ORSA guidance manual shall be effective on the January 1 following the calendar year in which the changes have been adopted by the NAIC.
V. "ORSA summary report" means a confidential high-level summary of an insurer or insurance group's ORSA.
Source.
2013, 152:2, eff. Jan. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:3 - Risk Management Framework.

401-C:3 Risk Management Framework. –
An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.
Source.
2013, 152:2, eff. Jan. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:4 - ORSA Requirement.

401-C:4 ORSA Requirement. –
Subject to RSA 401-C:6, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA shall be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.
Source.
2013, 152:2, eff. Jan. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:5 - ORSA Summary Report.

401-C:5 ORSA Summary Report. –
I. Upon the commissioner's request, and no more than once each year, an insurer shall submit to the commissioner an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual, applicable to the insurer and/or the insurance group of which it is a member. Notwithstanding any request from the commissioner, if the insurer is a member of an insurance group, the insurer shall submit the report or reports required by this section if the commissioner is the lead state commissioner of the insurance group as determined by the procedures within the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners.
II. The report shall include a signature of the insurer or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process attesting to the best of his or her belief and knowledge that the insurer applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee thereof.
III. An insurer may comply with paragraph I by providing the most recent and substantially similar reports provided by the insurer or another member of an insurance group of which the insurer is a member to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA guidance manual. Any such report in a language other than English shall be accompanied by a translation of that report into the English language.
Source.
2013, 152:2, eff. Jan. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:7 - Contents of ORSA Summary Report.

401-C:7 Contents of ORSA Summary Report. –
I. The ORSA summary report shall be prepared consistent with the ORSA guidance manual subject to the requirements of paragraph II. Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner.
II. The review of the ORSA summary report, and any additional requests for information, shall be made using similar procedures currently used in the analysis and examination of multi-state or global insurers and insurance groups. To assist in the review of ORSA summary reports, the commissioner may retain, without appropriation under RSA 9 and without qualifying as a department expenditure under RSA 4:15, attorneys, appraisers, independent actuaries, independent certified public accountants, or other professionals and specialists, the cost of which shall be borne by the company subject to such review. The company shall pay the retained professional or specialists directly for their costs. The commissioner shall conduct oversight of such independent reviewers in a manner that is consistent with standards for the use of independent reviewers established by the National Association of Insurance Commissioners in its Financial Condition Examiners Handbook and Market Regulation Handbook and shall ensure that costs are reasonable for the work performed. The amount paid by the company under this paragraph in any fiscal year shall be applied as a nontransferable credit against and to the extent of the company's administrative fee under RSA 400-A:39 in the subsequent fiscal year and not thereafter.
Source.
2013, 152:2. 2017, 218:7, eff. July 10, 2017. 2022, 143:3, eff. Aug. 6, 2022.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:9 - Sanctions.

401-C:9 Sanctions. –
Any insurer failing, without just cause, to timely file the ORSA summary report as required in this chapter shall be required, after notice and hearing, to pay a penalty of $2,500 for each day's delay, to be recovered by the commissioner and the penalty so recovered shall be paid into the general revenue fund of this state. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
Source.
2013, 152:2, eff. Jan. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 401-C - Own Risk and Solvency Assessment › Section 401-C:10 - Severability Clause.

401-C:10 Severability Clause. –
If any provision of this chapter, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or applications, and to that end the provisions of this chapter are severable.
Source.
2013, 152:2, eff. Jan. 1, 2015.