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Home » US Law » 2022 New Hampshire Revised Statutes » Title XXXVII - Insurance » Title 401-D - Corporate Governance Annual Disclosure Act

Section 401-D:1 – Purpose and Scope.

    401-D:1 Purpose and Scope. – I. The purpose of this chapter is to: (a) Provide the insurance commissioner with a summary of an insurer or insurance group’s corporate governance structure, policies and practices to permit the commissioner to gain and maintain an understanding of the insurer’s corporate governance framework. (b) Outline the requirements for […]

Section 401-D:2 – Definitions.

    401-D:2 Definitions. – In this chapter: I. " Commissioner " means the insurance commissioner. II. " Corporate governance annual disclosure " or " CGAD " means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter. III. " Insurance group " means those insurers and […]

Section 401-D:3 – Disclosure Requirement.

    401-D:3 Disclosure Requirement. – I. An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to the commissioner a CGAD that contains the information described in RSA 401-D:5. Notwithstanding a request from the commissioner made pursuant to paragraph III, if […]

Section 401-D:4 – Rules and Regulations.

    401-D:4 Rules and Regulations. – The commissioner, may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations and orders as shall be necessary to carry out the provisions of this chapter. Source. 2016, 316:1, eff. Jan. 1, 2017.

Section 401-D:5 – Contents of Corporate Governance Annual Disclosure; Rulemaking.

    401-D:5 Contents of Corporate Governance Annual Disclosure; Rulemaking. – I. The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the commissioner to gain an understanding of the insurer’s or group’s corporate governance structure, policies, and practices. The […]

Section 401-D:6 – Confidentiality.

    401-D:6 Confidentiality. – I. Documents, materials, or other information, including the CGAD, in the possession or control of the insurance department that are obtained by, created by, or disclosed to the commissioner or any other person under this chapter are recognized by this state as being proprietary and to contain trade secrets. All such […]

Section 401-D:7 – NAIC and Third-Party Consultants.

    401-D:7 NAIC and Third-Party Consultants. – I. The commissioner may retain, at the insurer’s expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the commissioner’s staff as may be reasonably necessary to assist the commissioner in reviewing the CGAD and related information or the insurer’s compliance with this […]

Section 401-D:8 – Sanctions.

    401-D:8 Sanctions. – Any insurer failing, without just cause, to timely file the CGAD as required in this chapter shall be required, after notice and hearing, to pay a penalty of $100 for each day’s delay up to a maximum of $2,500, to be recovered by the commissioner. The penalty so recovered shall be […]

Section 401-D:9 – Severability Clause.

    401-D:9 Severability Clause. – If any provision of this chapter other than RSA 401-D:6, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that end the […]