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 […]
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 All provisions of RSA 401-B, to the extent they are not superseded by this chapter, […]
402-G:3 Minimum Standards; Required Contract Provisions. – I. Applicability of section: (a) The provisions of this section shall apply if, in any calendar year, the aggregate amount of gross written premium on business placed with a controlled insurer by a controlling producer is equal to or greater than 5 percent of the admitted assets […]
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 […]
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 […]
