Title 24, Insurance

Part VII. SUITABILITY IN ANNUITY TRANSACTIONS §431:10D-621 Scope. (a) This part applies to any recommendation or sale of an annuity. (b) This part does not apply to transactions involving: (1) Direct-response solicitations where there is no recommendation based on information col…

§431:10D-622 Definitions. For the purposes of this part: "Annuity" means an annuity that is an insurance product under state law that is individually solicited, whether the product is classified as an individual or group annuity. "Approved continuing education course provider" me…

§431:10D-623 Duties of insurers and producers. (a) A producer, when making a recommendation of an annuity, shall act in the best interest of the consumer under the circumstances known at the time the recommendation is made, without placing the producer's or the insurer's financia…

§431:10D-624 Compliance mitigation; penalties; enforcement. (a) An insurer shall be responsible for compliance with this part. If a violation occurs because of the action or inaction of the insurer or its producer, the commissioner may order: (1) An insurer to take reasonably app…

§431:10D-625 Recordkeeping. Insurers, managing general agents, independent agencies, and producers shall maintain or make available to the commissioner records of the information collected from the consumer; disclosures made to the consumer, including summaries of oral disclosure…

§431:10D-626 Producer training. (a) A producer shall not solicit the sale of an annuity product unless the producer has adequate knowledge of the product to recommend the annuity and the producer is in compliance with the insurer's standards for product training. A producer may r…

[§431:10D-627] Care obligation of insurers and producers. (a) The producer, in making a recommendation, shall exercise reasonable diligence, care, and skill to: (1) Know the consumer's financial situation, insurance needs, and financial objectives; (2) Understand the available re…

[§431:10D-628] Disclosure obligation of insurers and producers. (a) Before the recommendation or sale of an annuity, the producer shall prominently disclose to the consumer on a form substantially similar to Appendix A of the Spring 2020, National Association of Insurance Commiss…

[§431:10D-629] Conflicts of interest obligation of insurers and producers. A producer shall identify and avoid or reasonably manage and disclose material conflicts of interest, including material conflicts of interest related to an ownership interest. [L 2022, c 58, pt of §2]

[§431:10D-630] Documentation obligation of insurers and producers. (a) A producer shall at the time of recommendation or sale: (1) Make a written record of any recommendation and the basis for the recommendation subject to this part; (2) Obtain a consumer signed statement on a fo…

PART VIII. USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS [§431:10D-641] Purpose. The purpose of this part is to protect consumers from misleading and fraudulent marketing practices with respect to the use of senior-specific certifications and professional de…

[§431:10D-642] Prohibited uses of senior-specific certifications and professional designations. (a) It is an unfair and deceptive act or practice in the business of insurance within the meaning of article 13 for an insurance producer to use a senior-specific certification or prof…

[Part IX.] Unclaimed life insurance benefits act [§431:10D-651] Short title. This part may be known and cited as the Unclaimed Life Insurance Benefits Act. [L 2018, c 202, pt of §1]

[§431:10D-652] Purpose. The purpose of this part is to require recognition of the escheat or unclaimed property statutes of this State and require the complete and proper disclosure, transparency, and accountability relating to any method of payment for life insurance death benef…

[§431:10D-653] Definitions. As used in this part, the following definitions apply: "Contract" means an annuity contract; provided that the term "contract" shall not include an annuity used to fund an employment-based retirement plan or program where: (1) The insurer does not perf…

[§431:10D-654] Insurer conduct. (a) An insurer shall perform a comparison of its insureds' in-force policies, contracts, and retained asset accounts against a death master file, on at least a semi-annual basis, by using the full death master file once and thereafter using the dea…

ARTICLE 10E PROPERTY INSURANCE PART I. INSURABLE INTEREST IN PROPERTY; OVER-INSURANCE §431:10E-101 Insurable interest in property required. No contract of insurance on property or of any interest therein or arising therefrom shall be enforceable except for the benefit of persons …

§431:10E-102 Over-insurance prohibited; exceptions. (a) Over-insurance shall be deemed to exist if property or an insurable interest in the property is insured by one or more insurance contracts against the same hazard in any amount in excess of the actual cash value of the prope…

§431:10E-103 Exceptions. Section 431:10E-102 does not apply to: (1) Insurance on buildings and building service equipment pertaining thereto and part thereof, and machinery, tools, and other equipment appurtenant to or used in connection with any trade, business, manufacturing pr…

PART II. HOMEOWNERS INSURANCE CLAIMS HISTORY [§431:10E-121] Purpose. The purpose of this part is to regulate the use of claims history information for homeowners insurance and provide certain consumer protections with respect to the use of this information. [L 2012, c 80 pt of §1…

[§431:10E-122] Scope; effective dates. This part shall apply to all homeowners insurance policies delivered or issued for delivery in this State after July 31, 2012. [L 2012, c 80, pt of §1]

[§431:10E-123] Definitions. As used in this part, "inquiry" means a telephone call or other communication made to an insurer regarding the terms, conditions, or coverage afforded under an insurance policy that does not result in a claim, including questions concerning whether a p…

[§431:10E-124] Use of inquiries and other information. An insurer shall not refuse to issue, refuse to renew, or cancel a homeowners insurance policy, or establish rates for coverage based in whole or in part on inquiries made by any consumer to an insurer, unless the inquiry pro…

[PART III. LAVA ZONES] [§431:10E-141] Lava zone defined. As used in this article, "lava zone" means a volcanic hazard zone identified by the United States Geological Survey on the island of Hawaii. [L 2015, c 32, pt of §2]

[§431:10E-142] Provisions for properties in lava zones in the county of Hawaii. (a) Where the mayor of the county of Hawaii has issued a proclamation declaring the existence of a state of emergency due to the threat of imminent disaster from a lava flow in a lava zone, the total …

[PART IV.] COVERAGES [§431:10E-151] Notice requirement. Thirteen months prior to discontinuation of writing property insurance coverage, an insurer shall file an affidavit with the commissioner stating the reasons for the discontinuation. [L 2016, c 141, pt of §1]

[§431:10E-152] Extended coverage. Insurers seeking to provide multi-peril coverage for residential property after July 1, 2016, shall submit to the commissioner a written request for permission to write the coverage. The commissioner may disapprove the request. If the request is …

ARTICLE 10F SURETY INSURANCE §431:10F-101 Requirements deemed met by surety insurer. Whenever by law or by rule of any court, public official, or public body, a surety bond is required or is permitted to be given, provided the bond is otherwise proper and its conditions are guara…

§431:10F-102 Fiduciary bonds, expense. Any fiduciary required by law to give bonds, may include, as part of the fiduciary's lawful expense to be allowed by the court or official by whom the fiduciary was appointed, the reasonable amount paid as premium for the bonds to the surety…

§431:10F-103 Court bonds, costs. In any proceeding, the party entitled to recover costs may include in the costs such reasonable sum as was paid to the surety insurer as premium for any bond or undertaking required therein, and as may be allowed by the court having jurisdiction o…

§431:10F-104 Release from liability. A surety insurer may be released from its liability on the same terms and conditions as are provided by law for the release of individuals as sureties. [L 1987, c 347, pt of §2]

[§431:10F-105] Directed suretyship; coercion of contractors. (a) No person may require as a condition precedent to the granting, awarding, or issuing a contract for the construction or renovation of improvements to real property, that the person whose obligation under such contra…

ARTICLE 10G MOTORCYCLE AND MOTOR SCOOTER INSURANCE PART I. GENERAL PROVISIONS §431:10G-101 Definitions. As used in this article: "Accidental harm" means bodily injury, death, sickness, or disease caused by a motorcycle or motor scooter accident to a person. "Injury" means acciden…

§431:10G-102 Conditions of operation and registration of motorcycles and motor scooters. No person shall drive a motorcycle or motor scooter upon any public street, road, or highway of this State at any time unless such motorcycle or motor scooter is insured at all times under a …

§431:10G-103 Motorcycle or motor scooter self-insurance. The motorcycle or motor scooter insurance required by section 431:10G-102 may be satisfied by any owner of a motorcycle or motor scooter if: (1) Such owner provides proof of qualifications as a self-insurer, and a surety bo…

§431:10G-104 Prerequisites for obtaining coverage. (a) Any person seeking to obtain the liability coverage required by this part after June 7, 1989, shall first: (1) Have obtained a valid motorcycle or motor scooter license; or (2) Have obtained a valid motorcycle or motor scoote…

§431:10G-105 Tort liability. (a) With respect to accidental harm incurred in or arising out of a motorcycle accident or motor scooter accident, tort liability is not abolished. (b) Any owner or operator of a motorcycle or motor scooter involved in a motor vehicle accident as defi…

§431:10G-106 Verification of insurance. Every insurer shall issue to each of its insureds a paper or electronic proof of insurance card for each motorcycle or motor scooter for which a liability policy under this article is written. The electronic proof of insurance card may be a…

§431:10G-107 Drivers education fund underwriters fee; motorcycle and motor scooter operators education fund. (a) The commissioner shall assess and levy upon each insurer, and self-insurer, a drivers education fund underwriters fee of $2 a year on each motorcycle or motor scooter …

§431:10G-108 Penalties. Any person who violates this article shall be subject to a citation by the police and shall be subject to a nonsuspendable fine of not less than $100 nor more than $1,000, thirty days imprisonment, a one year driver's license suspension, or any combination…

§431:10G-109 Rules. The commissioner may adopt rules pursuant to chapter 91 necessary for the purposes of this article. [L 1989, c 208, pt of §1]

PART II. RATES AND ADMINISTRATION §431:10G-201 Making of motorcycle and motor scooter insurance rates. (a) All premium rates for motorcycle and motor scooter insurance shall be made in accordance with the following provisions: (1) Rates shall not be excessive, inadequate, or unfa…

§431:10G-202 Rate filings. (a) Every insurer shall file with the commissioner every manual of classification, rule, rate, rating plan, designation of rating territories, or standard for motorcycle or motor scooter insurance which it proposes to use. Every filing shall state the p…

§431:10G-203 Rate review: request by aggrieved party. (a) Any person aggrieved by the application as to such person of any classification, rule, standard, rate, or rating plan made, followed, or adopted by an insurer may make written request to the commissioner to review such app…

§431:10G-204 Rate review: rate methods in noncompliance with article. (a) If the commissioner has good cause to believe that a classification, rule, standard, rate, rating territory, or rating plan made, followed, or adopted by an insurer does not comply with the requirements of …

§431:10G-206 Rate administration. Except as otherwise provided in this article, the commissioner shall implement and evaluate motorcycle and motor scooter insurance rates in compliance with article 14. [L 1989, c 208, pt of §1]