reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:15 - Escrow or Trust Accounts.

402-D:15 Escrow or Trust Accounts. –
I. A public adjuster who receives, accepts, or holds any moneys on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the moneys in an interest bearing escrow or trust account in a financial institution which is insured by an agency of the federal government in their home state.
II. All funds held in an escrow or trust account and interest accruing thereon shall be the property of the insured and shall be held pursuant to a written agreement signed by the insured and the public adjuster.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:16 - Record Retention.

402-D:16 Record Retention. –
I. A public adjuster shall maintain a complete record of each transaction as a public adjuster. The records required by this section shall include, at a minimum, the following:
(a) Name of the insured.
(b) Date, location, and amount of the loss.
(c) Copy of the contract between the public adjuster and the insured.
(d) Name of the insurer, and the amount, expiration date and number of each policy carried with respect to the loss.
(e) An itemized statement of the insured's recoveries.
(f) An itemized statement of all compensation received by the public adjuster, from any source whatsoever, in connection with the loss.
(g) A register of all moneys received, deposited, disbursed, or withdrawn in connection with a transaction with an insured, including fee transfers and disbursements from a trust account and all transactions concerning all interest bearing accounts.
(h) Name of the public adjuster who executed the contract.
(i) Name of the attorney representing the insured, if applicable, and the name of the claims representative of the insurance company.
(j) Evidence that the requirements of RSA 402-D:11 have been satisfied.
II. Records shall be maintained for at least 5 years after the termination of the transaction with an insured and shall be open to examination by the commissioner at all times.
III. Records submitted to the commissioner in accordance with this section that contain personal identifying information, shall be treated as confidential by the commissioner and shall not be subject to RSA 91-A. However, in order to assist in the performance of the commissioner's duties, the commissioner may share documents, materials, or other information, including the confidential documents, materials, or other information with other state, federal and international regulatory agencies, with the National Association of Insurance Commissioners (NAIC) and its affiliates and subsidiaries, and with state, federal and international law enforcement authorities; provided, that the recipient agrees to maintain the confidentiality of the information provided. Such parties shall agree in writing prior to receiving the information to provide to it the same confidential treatment as required by this paragraph, unless the prior written consent of the person to which it pertains has been obtained.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:17 - Standards of Conduct of Public Adjuster.

402-D:17 Standards of Conduct of Public Adjuster. –
I. A public adjuster shall be honest and fair in all communications with the insured, the insurer, and the public.
II. A public adjuster shall not solicit, or attempt to solicit, an insured during the progress of a loss-producing occurrence, as defined in the insured's insurance contract.
III. A public adjuster shall not permit an unlicensed employee or representative of the public adjuster to advertise, engage insureds, furnish reports, or present bills to insureds, or in any manner whatsoever to conduct business for which a license is required under this chapter.
IV. A public adjuster shall not have a direct or indirect financial interest in any aspect of the claim, other than the salary, fee, commission, or other consideration established in the written contract with the insured.
V. A public adjuster shall not require any interest in salvage of property subject to the contract with the insured unless the public adjuster obtains written permission from the insured after settlement of the claim with the insurer.
VI. The public adjuster shall abstain from referring or directing the insured to get needed repairs or services in connection with a loss from any person:
(a) With whom the public adjuster has a financial interest; or
(b) From whom the public adjuster may receive direct or indirect compensation for the referral.
VII. A public adjuster shall not enter into a contract with an insured where the public adjuster knows or should know that the insured will obtain full recovery without the services of an adjuster.
VIII. No public adjuster shall have any interest in any construction firm, salvage firm, building appraisal firm, motor vehicle repair shop or any other firm which performs any work in conjunction with damages caused by an insured loss. The word "firm" shall include any corporation, partnership, association, joint stock company, or person.
IX. Any compensation or anything of value received by a public adjuster shall be disclosed by such adjuster to the insured in writing including the source and amount of such.
X. No public adjuster may employ, be employed by, or be in partnership with or receive or pay any remuneration whatsoever to or from any licensed insurance producer, insurer, or employee of an insurer arising out of the activities as a public adjuster.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:18 - Reporting of Actions.

402-D:18 Reporting of Actions. –
I. The public adjuster shall report to the commissioner any administrative action taken against the public adjuster in another jurisdiction or by another governmental agency in this state within 30 days of the final disposition of the matter. This report shall include a copy of the order, consent to order, or other relevant legal documents.
II. Within 30 days of the initial pretrial hearing date, the public adjuster shall report to the commissioner any criminal prosecution of the public adjuster taken in any jurisdiction. The report shall include a copy of the initial complaint filed, the order resulting from the hearing, and any other relevant legal documents.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:19 - Additional Penalty.

402-D:19 Additional Penalty. –
In addition to any of the penalties provided in this chapter, any person who shall act within this state as a public adjuster without being licensed as provided in this chapter shall be guilty of a class A misdemeanor. Any licensee who in the course of his or her work as a public adjuster shall misrepresent his or her identity or the identity of his or her principal or employer, or who shall wrongfully divulge information obtained by him or her in his or her capacity as a public adjuster may be subject to an administrative fine not to exceed $2,500. Additionally, the commissioner may order a refund of any moneys gained or obtained, or restitution of any valuable consideration received.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:20 - Rulemaking Authority.

402-D:20 Rulemaking Authority. –
The commissioner may adopt rules, pursuant to RSA 541-A, as are necessary or proper to carry out the purposes of this chapter.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-D - Public Adjusters › Section 402-D:21 - Severability.

402-D:21 Severability. –
If any provision of this chapter, or the application thereof to any person or circumstances, is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or applications, and to this end the provisions of this chapter are severable.
Source.
2006, 9:1, eff. May 2, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-E - Managing General Agents › Section 402-E:1 - Definitions.

402-E:1 Definitions. –
In this chapter:
I. "Actuary" means a person who is a member in good standing of the American Academy of Actuaries.
II. "Insurer" means any person, firm, association or corporation duly licensed in this state as an insurance company pursuant to title XXXVII.
III. (a) "Managing general agent" (MGA) means any person, firm, association or corporation who negotiates and binds ceding reinsurance contracts on behalf of an insurer or manages all or part of the insurance business of an insurer, including the management of a separate division, department or underwriting office, and acts as an agent for such insurer whether known as a managing general agent, manager or other similar term, who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross direct written premiums equal to or more than 5 percent of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year together with one or more of the following:
(1) Adjusts or pays claims in excess of $200,000; or
(2) Negotiates reinsurance on behalf of the insurer.
(b) Notwithstanding subparagraph (a), the following persons shall not be considered as MGAs for the purposes of this chapter:
(1) An employee of the insurer.
(2) A U.S. manager of the United States branch of an alien insurer.
(3) An underwriting manager which, pursuant to contract, manages all insurance operations of the insurer other than those managed by the insurer itself, is under common control with the insurer, subject to RSA 401-B, the holding company regulatory act, and whose compensation is not based on the volume of premiums written.
(4) The attorney-in-fact authorized by and acting for the subscribers of a reciprocal insurer or inter-insurance exchange under powers of attorney.
IV. "Underwrite" means the authority to accept or reject risk on behalf of the insurer.
Source.
1991, 95:1. 2003, 144:4, eff. Jan. 1, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-E - Managing General Agents › Section 402-E:2 - Licensure.

402-E:2 Licensure. –
I. No person, firm, association, corporation, or other entity shall act as an MGA until an MGA license has been issued by the commissioner. The license shall be renewed annually thereafter so long as the MGA complies with applicable law and rules and upon remittance of the renewal fee.
II. No person, firm, association, or corporation shall act in the capacity of an MGA with respect to risks located in this state for an insurer licensed in this state, unless such person is a licensed producer in this state.
III. No person, firm, association, or corporation shall act in the capacity of an MGA representing an insurer domiciled in this state with respect to risks located outside this state unless such person is licensed as a producer in this state, pursuant to the provisions of this chapter. Such license may be a nonresident license.
IV. The commissioner may require a bond in an amount acceptable to the commissioner for the protection of the insurer.
V. The commissioner may require the MGA to maintain an errors and omissions policy.
VI. The commissioner may require financial and other data in form and context satisfactory to the commissioner as part of the license application process.
Source.
1991, 95:1. 1997, 284:2, eff. Jan. 1, 1998.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-E - Managing General Agents › Section 402-E:4 - Duties of Insurers.

402-E:4 Duties of Insurers. –
I. The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each MGA with which it has done business.
II. If an MGA establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the MGA. This is in addition to any other required loss reserve certification.
III. The insurer, at least 2 times each year, shall conduct an on-site review of the underwriting and claims processing operations of the MGA.
IV. Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer, who shall not be affiliated with the MGA.
V. Within 30 days of entering into or termination of a contract with an MGA, the insurer shall provide written notification of such appointment or termination to the commissioner. Notices of appointment of an MGA shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and any other information the commissioner may request.
VI. An insurer shall review its books and records each quarter to determine if any producer has become an MGA. If the insurer determines that a producer has become an MGA, the insurer shall promptly notify the producer and the commissioner of such determination, and the insurer and producer shall fully comply with the provisions of this chapter within 30 days.
VII. An insurer shall not appoint to its board of directors an officer, director, employee, subproducer, or controlling shareholder of its MGAs. This paragraph shall not apply to relationships governed by RSA 401-B.
Source.
1991, 95:1, eff. Jan. 1, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-E - Managing General Agents › Section 402-E:5 - Examination Authority.

402-E:5 Examination Authority. –
I. The acts of the MGA are considered to be the acts of the insurer on whose behalf it is acting. An MGA may be examined as if it were the insurer.
II. The commissioner may designate examiners or consultants, as appropriate, to perform an audit of an MGA when the commissioner considers an audit necessary. The audit shall be conducted at the expense of the MGA. MGA's shall make all records and books of account available to the examiners or consultants, and shall otherwise facilitate the performance of the audit.
Source.
1991, 95:1. 1997, 284:4, eff. Jan. 1, 1998.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-E - Managing General Agents › Section 402-E:6 - Penalties and Liabilities.

402-E:6 Penalties and Liabilities. –
I. If the commissioner finds after notice and hearing that any person has violated any provision of this chapter, or rules adopted pursuant to this chapter, the commissioner may order:
(a) For each separate violation, a penalty in an amount of $2,500.
(b) Revocation or suspension of the producer's license.
(c) The MGA to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this chapter committed by the MGA.
(d) Any other applicable penalty provided for in the insurance law.
I-a. Any person who shall practice or attempt to practice as an MGA in this state without a license shall be guilty of a class A misdemeanor if a natural person, or guilty of a felony if any other person.
II. Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants and auditors.
Source.
1991, 95:1. 1997, 284:5. 2005, 206:4, eff. Jan. 1, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-E - Managing General Agents › Section 402-E:7 - Rulemaking.

402-E:7 Rulemaking. –
The commissioner of the insurance department may adopt rules, under RSA 541-A, necessary for the implementation and administration of this chapter.
Source.
1991, 95:1. 2002, 207:45, eff. July 15, 2002.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:3 - Required Contract Provisions; Reinsurance Intermediary-Brokers.

402-F:3 Required Contract Provisions;  Reinsurance Intermediary-Brokers. –
Transactions between an RB and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:
I. The insurer may terminate the RB's authority at any time.
II. The RB shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing, to the RB, and remit all funds due to the insurer within 30 days of receipt.
III. All funds collected for the insurer's account shall be held by the RB in a fiduciary capacity in a bank that is a qualified U.S. financial institution, as defined in RSA 402-F:1, X.
IV. The RB shall comply with the written standards established by the insurer for the cession or retrocession of all risks.
V. The RB shall disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
VI. The RB shall comply with RSA 402-F:4.
Source.
1991, 200:1. 2007, 255:2, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:4 - Books and Records; Reinsurance Intermediary-Brokers.

402-F:4 Books and Records;  Reinsurance Intermediary-Brokers. –
I. For at least 10 years after expiration of each contract of reinsurance transacted by the RB, the RB shall keep a complete record for each transaction showing:
(a) The type of contract, limits, underwriting restrictions, classes or risks and territory.
(b) Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation.
(c) Reporting and settlement requirements of balances.
(d) Rates used to compute the reinsurance premium.
(e) Names and addresses of assuming reinsurers.
(f) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the RB.
(g) Related correspondence and memoranda.
(h) Proof of placement.
(i) Details regarding retrocessions handled by the RB, including the identity of retrocessionaires and percentage of each contract assumed or ceded.
(j) Financial records, including but not limited to, premium and loss accounts.
(k) When the RB procures a reinsurance contract on behalf of a licensed ceding insurer:
(1) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or
(2) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that such reinsurer has delegated binding authority to the representative.
II. The insurer shall have access and the right to copy and audit all accounts and records maintained by the RB related to its business in a form usable by the insurer.
Source.
1991, 200:1. 2007, 255:2, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:5 - Duties of Insurers Utilizing the Services of a Reinsurance Intermediary-Broker.

402-F:5 Duties of Insurers Utilizing the Services of a Reinsurance Intermediary-Broker. –
I. An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf, unless the person is licensed as required by RSA 402-F:2, I.
II. An insurer may not employ an individual who is employed by an RB with which it transacts business, unless the RB is under common control with the insurer and subject to RSA 401-B.
III. The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.
Source.
1991, 200:1. 2007, 255:2, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:7 - Prohibited Acts.

402-F:7 Prohibited Acts. –
The RM shall not:
I. Cede retrocessions on behalf of the reinsurer, except that the RM may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocession. The guidelines shall include a list of reinsurers with which such automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules.
II. Commit the reinsurer to participate in reinsurance syndicates.
III. Appoint any producer without assuring that the producer is lawfully licensed to transact the type of reinsurance for which he or she is appointed.
IV. Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one percent of the reinsurer's policyholders' surplus as of December 31 of the last complete calendar year.
V. Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report must be promptly forwarded to the reinsurer.
VI. Jointly employ an individual who is employed by the reinsurer unless such RM is under common control with the reinsurer subject to RSA 401-B.
VII. Appoint a sub-RM.
Source.
1991, 200:1. 1993, 254:8. 2007, 255:2, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:8 - Duties of Reinsurers Utilizing the Services of an RM.

402-F:8 Duties of Reinsurers Utilizing the Services of an RM. –
I. A reinsurer shall not engage the services of any person, firm, association or corporation to act as an RM on its behalf unless the person is licensed as required by RSA 402-F:2.
II. The reinsurer shall annually obtain a copy of statements of the financial condition of each RM which such reinsurer has engaged prepared by an independent certified accountant in a form acceptable to the commissioner.
III. If an RM establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the RM. This opinion shall be in addition to any other required loss reserve certification.
IV. Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the RM.
V. Within 30 days of termination of a contract with an RM, the reinsurer shall provide written notification of termination to the commissioner.
VI. A reinsurer shall not appoint to its board of directors any officer, director, employee, controlling shareholder or subproducer of its RM. This paragraph shall not apply to relationships governed by RSA 401-B.
Source.
1991, 200:1. 2007, 255:2, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:9 - Examination Authority.

402-F:9 Examination Authority. –
I. A reinsurance intermediary shall be subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the commissioner.
II. An RM may be examined as if it were the reinsurer.
Source.
1991, 200:1. 1993, 254:9. 1997, 284:9. 2007, 255:2, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:9-a - Compliance With Orders.

402-F:9-a Compliance With Orders. –
I. An RB or RM shall comply with any order of a court of competent jurisdiction or a duly constituted arbitration panel requiring the production of non-privileged documents by the RB or RM, or the testimony of an employee or other individual otherwise under the control of the RB or RM with respect to any reinsurance transaction for which it acted as an RB or RM.
II. Compliance shall be subject to the right of the RB or RM, and the parties to the reinsurance transaction, to object to the court or arbitration panel concerning the nature or scope of the documents or testimony or the time within which it must comply with the order. Failure to comply with the order shall be deemed to be a material non-compliance with this chapter. However, in no event shall this section be construed to require more than one appearance by the same witness in a single action or arbitration.
Source.
2007, 255:3, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:10 - Penalties and Liabilities.

402-F:10 Penalties and Liabilities. –
I. If the commissioner determines that the reinsurance intermediary or any other person has not materially complied with this chapter, or any rule or order adopted under this chapter, after notice and opportunity to be heard, the commissioner may order:
(a) For each separate violation, a civil penalty in an amount not exceeding $5,000.
(b) Revocation or suspension of the reinsurance intermediary's license; and
(c) If it was found that because of such material non-compliance that the insurer or reinsurer has suffered any loss or damage, the commissioner may maintain a civil action brought by or on behalf of the reinsurer or insurer and its policyholders and creditors for recovery of compensatory damages for the benefit of the reinsurer or insurer and its policyholders and creditors or seek other appropriate relief.
II. If an order of rehabilitation or liquidation of the insurer has been entered pursuant to RSA 402-C, and the receiver appointed under that order determines that the reinsurance intermediary or any other person has not materially complied with this chapter, or any rule or order promulgated under this chapter, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer.
III. Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided in the insurance laws.
IV. Nothing contained in this chapter shall in any manner limit or restrict the rights of policyholders, claimants, creditors, or other third parties or confer any rights to such persons.
Source.
1991, 200:1. 1997, 284:10. 2005, 206:5. 2007, 255:4, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:10-a - Reciprocity.

402-F:10-a Reciprocity. –
I. The insurance commissioner shall waive any requirements for a nonresident license application with a valid license from the applicant's home state, except the requirements imposed by RSA 402-F:2, if the applicant's home state awards nonresident licenses to residents of this state on the same basis.
II. A nonresident reinsurance intermediary's satisfaction of any applicable home state continuing education requirements, if any, for licenses as insurance producers or reinsurance intermediaries shall constitute satisfaction of the state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements imposed upon producers or reinsurance intermediaries from this state on the same basis.
Source.
2007, 255:5, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:10-b - Service of Process.

402-F:10-b Service of Process. –
A reinsurance intermediary, by accepting licensure in this state, is deemed to have consented to the jurisdiction of the commissioner and the courts of this state with respect to all activities conducted under the license, and to have designated the commissioner as its agent for service of process. Each licensed reinsurance intermediary shall furnish the commissioner with the name and address of a designated contact resident of this state to whom notices or orders of the commissioner or process affecting the reinsurance intermediary may be forwarded. The licensee shall promptly notify the commissioner in writing of every change in this designated contact for service of process, and such changes shall not become effective until acknowledged by the commissioner.
Source.
2007, 255:5, eff. Jan. 1, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:11 - Rulemaking.

402-F:11 Rulemaking. –
The commissioner may adopt rules, under RSA 541-A which are reasonable and necessary for the implementation and administration of this chapter, relative to:
I. Qualifications and application review procedures for licensure under RSA 402-F:2.
II. License suspension and revocation procedures.
III. Procedures for inspecting books, accounts, and records, under RSA 402-F:9.
IV. Hearings, appeals, and enforcement procedures.
V. [Repealed.]
Source.
1991, 200:1. 2002, 207:29. 2012, 171:26, XIX, eff. Aug. 10, 2012.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-F - Reinsurance Intermediaries › Section 402-F:12 - Other Applicable Provisions.

402-F:12 Other Applicable Provisions. –
The provisions of title XXXVII apply to reinsurance intermediaries.
Source.
1997, 284:11, eff. Jan. 1, 1998.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-G - Business Transacted With Producer Controlled Property/casualty Act › Section 402-G:1 - Definitions.

402-G:1 Definitions. –
In this chapter:
I. "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Commissioners (NAIC).
II. "Control" or "controlled" means "control" as defined in RSA 401-B:1, III.
III. "Controlled insurer" means a licensed insurer which is controlled, directly or indirectly, by a producer.
IV. "Controlling producer" means a producer who, directly or indirectly, controls an insurer.
V. "Licensed insurer" or "insurer" means any person, firm, association, or corporation duly licensed to transact a property/casualty insurance business in this state. The following, among others, are not licensed insurers for the purposes of this chapter:
(a) All risk retention groups as defined in the Superfund Amendments Reauthorization Act of 1986, Pub. L. No. 99-499, 100 Stat. 1613 (1986) and the Risk Retention Act, 15 U.S.C. section 3901 et seq. (1982 __ampersand__ Supp. 1986) and RSA 405-A;
(b) All residual market pools and joint underwriting authorities or associations; and
(c) All captive insurers which, for the purposes of this chapter, are insurance companies owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, insurance organizations owned by the insureds whose exclusive purpose is to insure risks to member organizations or group members, or both, and their affiliates.
VI. "Producer" means an insurance broker or brokers or any other person, firm, association or corporation, when, for any compensation, commission or other thing of value, such person, firm, association or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation.
Source.
1992, 288:15. 1993, 254:10, eff. Jan. 1, 1994.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-G - Business Transacted With Producer Controlled Property/casualty Act › Section 402-G:2 - Applicability.

402-G:2 Applicability. –
This chapter shall apply to licensed insurers, as defined in RSA 402-G:1, V, either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. All provisions of RSA 401-B, to the extent they are not superseded by this chapter, shall continue to apply to all parties within holding company systems subject to the chapter.
Source.
1992, 288:15, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-G - Business Transacted With Producer Controlled Property/casualty Act › Section 402-G:4 - Disclosure.

402-G:4 Disclosure. –
The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in his records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has or will notify the insured.
Source.
1992, 288:15, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-G - Business Transacted With Producer Controlled Property/casualty Act › Section 402-G:5 - Penalties.

402-G:5 Penalties. –
I. (a) If the commissioner believes that the controlling producer or any other person has not materially complied with this chapter, or any rule adopted or order issued under this chapter, after notice and opportunity to be heard, the commissioner may order the controlling producer to cease placing business with the controlled insurer; and
(b) If it was found that because of such material non-compliance that the controlled insurer or any policyholder thereof has suffered any loss or damage, the commissioner may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.
II. If an order for liquidation or rehabilitation of the controlled insurer has been entered pursuant to RSA 402-C, and the receiver appointed under that order believes that the controlling producer or any other person has not materially complied with this chapter, or any rule adopted or order issued under this chapter, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer.
III. Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in the insurance laws.
IV. Nothing contained in this section is intended to or shall in any manner alter or affect the rights of policyholders, claimants, creditors or other third parties.
Source.
1992, 288:15, eff. Jan. 1, 1993.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:2 - Written Agreement Necessary.

402-H:2 Written Agreement Necessary. –
I. No administrator shall act as such without a written agreement between the administrator and the insurer and the written agreement shall be retained as part of the official records of both the insurer and the administrator for the duration of the agreement and for 5 years thereafter. The agreement shall contain all provisions required by this chapter, except insofar as those requirements do not apply to the functions performed by the administrator.
II. The written agreement shall include a statement of duties that the administrator is expected to perform on behalf of the insurer and the lines, classes or types of insurance which the administrator is to be authorized to administer. The agreement shall make provision with respect to underwriting or other standards pertaining to the business underwritten by the insurer.
III. The insurer or administrator may, with written notice, terminate the written agreement for cause as provided in the agreement. The insurer may suspend the underwriting authority of the administrator during the pendency of any dispute regarding the cause for termination of the written agreement. The insurer shall fulfill any lawful obligations with respect to policies affected by the written agreement, regardless of any dispute between the insurer and the administrator.
Source.
1993, 253:1. 2006, 271:2, eff. Aug. 8, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:3 - Payment to Administrator.

402-H:3 Payment to Administrator. –
If an insurer utilizes the services of an administrator, the payment to the administrator of any premiums or charges for insurance by or on behalf of the insured party shall be deemed to have been received by the insurer, and the payment of return premiums or claim payments forwarded by the insurer to the administrator shall not be deemed to have been paid to the insured party or claimant until such payments are received by the insured party or claimant. Nothing in this section limits any right of the insurer against the administrator resulting from the failure of the administrator to make payments to the insurer, insured parties, or claimants.
Source.
1993, 253:1, eff. Jan. 1, 1994.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:5 - Approval of Advertising.

402-H:5 Approval of Advertising. –
An administrator may use only advertising pertaining to the business underwritten by an insurer that has been approved in writing by the insurer in advance of its use.
Source.
1993, 253:1. 2006, 271:4, eff. Aug. 8, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:6 - Responsibilities of the Insurer.

402-H:6 Responsibilities of the Insurer. –
I. If an insurer utilizes the services of an administrator, the insurer shall be responsible for determining the benefits, premium rates, underwriting criteria, and claims payment procedures applicable to the coverage and for securing reinsurance, if any. The rules pertaining to these matters shall be provided, in writing, by the insurer to the administrator. The responsibilities of the administrator as to any of these matters shall be set forth in the written agreement between the administrator and the insurer.
II. It is the sole responsibility of the insurer to provide for competent administration of its programs.
III. In cases in which an administrator administers benefits for more than 100 certificate holders on behalf of an insurer, the insurer shall, at least semi-annually, conduct an on-site or virtual audit of the operations of the administrator.
IV. For purposes of this section, "insurer" means a licensed insurance company, prepaid hospital or medical care plan, or a health maintenance organization.
Source.
1993, 253:1. 2006, 271:5, eff. Aug. 8, 2006. 2023, 210:1, eff. Oct. 3, 2023.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:7 - Premium Collection and Payment of Claims.

402-H:7 Premium Collection and Payment of Claims. –
I. All insurance charges or premiums collected by an administrator on behalf of or for an insurer, and the return of premiums received from the insurer, shall be held by the administrator in a fiduciary capacity. The funds shall be immediately remitted to the person entitled to them or shall be deposited promptly in a fiduciary account established and maintained by the administrator in a federally or state insured financial institution. The written agreement between the administrator and the insurer shall provide for the administrator to periodically render an accounting to the insurer detailing all transactions performed by the administrator pertaining to the business underwritten by the insurer.
II. If charges or premiums deposited in a fiduciary account have been collected on behalf of or for one or more insurers, the administrator shall keep records clearly recording the deposits in and withdrawals from the account on behalf of each insurer. The administrator shall keep copies of all the records and, upon request of an insurer, shall furnish the insurer with copies of the records pertaining to such deposits and withdrawals.
III. The administrator shall not pay any claim by withdrawals from a fiduciary account in which premiums or charges are deposited. Withdrawals from the account shall be made as provided in the written agreement between the administrator and the insurer. The written agreement shall address, but not be limited to, the following:
(a) Remittance to an insurer entitled to remittance.
(b) Deposit in an account maintained in the name of the insurer.
(c) Transfer to and deposit in a claims-paying account, with claims to be paid as provided for in RSA 402-H:7, IV.
(d) Payment to a group policyholder for remittance to the insurer entitled to such remittance.
(e) Payment to the administrator of its commissions, fees or charges.
(f) Remittance of a return premium to the person or persons entitled to such return premium.
IV. All claims paid by the administrator from funds collected on behalf of or for an insurer shall be paid only on drafts or checks of and as authorized by the insurer, provided however that property and casualty claims may also be paid other than by draft or check, pursuant to rules adopted in accordance with RSA 281-A and RSA 417.
Source.
1993, 253:1. 1997, 284:12. 2006, 271:6. 2014, 31:5, eff. July 26, 2014.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:8 - Compensation to the Administrator.

402-H:8 Compensation to the Administrator. –
I. An administrator shall not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the administrator's commissions, fees, or charges contingent upon savings effected in the adjustment, settlement and payment of losses covered by the insurer's obligations. This provision shall not prohibit an administrator from receiving performance-based compensation for providing hospital or other auditing services.
II. This section shall not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed.
Source.
1993, 253:1, eff. Jan. 1, 1994.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:9 - Notice to Covered Individuals; Disclosure of Charges and Fees.

402-H:9 Notice to Covered Individuals;  Disclosure of Charges and Fees. –
I. When the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer to covered individuals advising them of the identity of, and relationship among, the administrator, the policyholder and the insurer.
II. When an administrator collects funds, the reason for collection of each item shall be identified to the insured party and each item shall be shown separately from any premium. Additional charges may not be made for services to the extent the services have been paid for by the insurer.
III. The administrator shall disclose to the insurer all charges, fees and commissions received from all services in connection with the provision of administrative services for the insurer, including any fees or commissions paid by the insurers providing reinsurance.
Source.
1993, 253:1. 2006, 271:7, eff. Aug. 8, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:10 - Delivery of Materials to Covered Individuals.

402-H:10 Delivery of Materials to Covered Individuals. –
Any policies, certificates, booklets, termination notices or other written communications delivered by the insurer to the administrator for delivery to insured parties or covered individuals shall be delivered by the administrator promptly after receipt of instructions from the insurer to deliver them.
Source.
1993, 253:1, eff. Jan. 1, 1994.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:11-a - Registration Requirement.

402-H:11-a Registration Requirement. –
A person who directly or indirectly underwrites, collects charges or premiums from, or adjusts or settles claims on residents of this state, and who is not otherwise required to obtain a certificate of authority or license in connection with life, annuity, or health coverage provided by a self-funded plan shall register with the commissioner by March 1 of each year, verifying its status as herein described. The registration requirement shall not apply to those persons or entities that are specifically exempted by RSA 402-H:1, I. Registrants under this section shall not be required to hold a certificate of authority as an administrator in this state or to meet the other requirements of this chapter.
Source.
2006, 271:9, eff. Aug. 8, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:11-b - Exemption.

402-H:11-b Exemption. –
An association administering a pooled risk management program operated pursuant to RSA 5-B or conducting business that is exempt from taxation under the Internal Revenue Code, section 115 shall not be required to obtain a certificate of authority or to meet the other requirements of this chapter for services provided in connection with the administration of its pooled risk management plans or its section 115 business, but shall be required to register with the commissioner pursuant to RSA 402-H:11-a. Pooled risk management program registration may be accomplished by providing the commissioner a copy of the informational filing required to be filed with the department of state pursuant to RSA 5-B:4.
Source.
2006, 271:9, eff. Aug. 8, 2006.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-H - Third Party Administrators › Section 402-H:12 - Annual Report and Filing Fee.

402-H:12 Annual Report and Filing Fee. –
I. (a) Each licensed administrator shall file an annual report for the preceding calendar year with the commissioner on or before June 1 of each year, or within such extension of time as the commissioner for good cause may grant. The annual report shall include an audited financial statement performed by an independent certified public accountant. An audited financial/annual report prepared on a consolidated basis shall include a columnar consolidating or combining worksheet that shall be filed with the report and include the following:
(1) Amounts shown on the consolidated audited financial report shall be shown on the worksheet;
(2) Amounts for each entity shall be stated separately; and
(3) Explanations of consolidating and eliminating entries shall be included.
(b) The report shall be in the form and contain such matters as the commissioner prescribes and shall be verified by at least 2 officers of the administrator.
II. The annual report shall include the complete names and addresses of all insurers with which the administrator had agreements during the preceding fiscal year.
III. At the time of filing its annual report, the administrator shall pay a filing fee pursuant to RSA 400-A:29, III.
Source.
1993, 253:1. 2006, 271:10, eff. Aug. 8, 2006.