Title XXXVII, Insurance

I. Definition and Effect. Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition for rehabilitation or liquidation under this chapter is fraudulent as to then existing and future creditors if made o…

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. Financial solvency standards, for investments under RSA 402:28. II. Valuation standards, for investments under RSA 402:2…

If an insurance company organized under the laws of this state shall be guilty of gross waste, misconduct or negligence in the management of its affairs, its charter or authority to do business shall be liable to forfeiture as provided in this subdivision.

Whenever the commissioner is of the opinion that any such cause for revocation exists he shall file a petition against the company in the superior court of the county in which it has its principal place of business, praying for a decree of forfeiture and for a settlement of its a…

The attorney general shall act for the commissioner in making and prosecuting the petition. The incidental expenses of the prosecution shall be paid by the state.

If the court is satisfied that there has been gross waste, misconduct or negligence in the management of its affairs, it shall decree a forfeiture of the company's charter or authority to do business, and shall make all other orders required for closing up and settling its affair…

I. Effect of Petition: Real Property. After a petition for rehabilitation or liquidation, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value or, if not made fo…

I. Preferences. (a) Preference Defined. A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor, for or on account of an antecedent debt, made or suffered by the insurer within one year before the filing of a successful petition for liq…

I. Disallowance for Failure to Surrender Property. No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment or encumbrance, voidable under this chapter, shall be allowed unless he surrenders the preference, lien, conveyance, transf…

I. Setoffs Allowed in General. Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter shall be set off and the balance only shall be allowed or paid, except as provided in paragraph II. II. Exceptions. …

I. Report to Court. As soon as practicable but not more than 2 years from the date of an order of liquidation under RSA 402-C:21 of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth: (a) The reasonable value of the assets of the…

The amount recoverable by the liquidator from a reinsurer shall not be reduced as a result of delinquency proceedings regardless of whether the reinsurance contract provides, in substance, that in the event of the insolvency of the ceding insurer, the reinsurance shall be payable…

I. Deadline for Filing. Proof of all claims must be filed with the liquidator in the form required by RSA 402-C:38 on or before the last day for filing specified in the notice required under RSA 402-C:26, except that proof of preferred ownership claims and proprietary claims unde…

I. Contents of Proof of Claim. (a) Proof of claim shall consist of a verified statement that includes all of the following that are applicable: 1. The particulars of the claim, including the consideration given for it. 2. The identity and amount of the security on the claim. 3. T…

I. Claims Contingent on Judgments. The claim of a third party which is contingent only on his first obtaining a judgment against the insured shall be considered and allowed as if there were no such contingency. II. Claims Under Terminated Policies. Any claim that would have becom…

I. A pet insurer may issue policies that exclude coverage on the basis of one or more preexisting conditions with appropriate disclosure to the consumer. The pet insurer has the burden of proving that the preexisting condition exclusion applies to the condition for which a claim …

I. The employees and authorized representatives of owners may sell and offer self-service storage insurance to renters and shall not be subject to licensure as an insurance producer under this chapter provided that: (a) The owner obtains a limited lines license to authorize its e…

I. Except as set forth in this section, all administrative and judicial proceedings arising under this chapter shall be held privately unless a public hearing is requested by the insurer, and all proceedings, hearing, notices, correspondence, reports, orders, records, and other i…

Except as hereinafter provided, the commissioner of insurance shall not issue an original claims adjuster's license to any applicant therefor unless and until said applicant shall have satisfactorily passed a reasonable written examination, which shall be administered by the comm…

I. An administrator shall maintain and make available to the insurer complete books and records of all transactions performed on behalf of the insurer. The books and records shall be maintained in accordance with prudent standards of insurance recordkeeping and shall be maintaine…

The provisions of RSA 402-A:2 do not apply to any purchase and sale, or sale and purchase, and the provisions of RSA 402-A:3 do not apply to any sale, of an equity security of a domestic stock insurance company not then or theretofore held by him in an investment account, by a de…

I. A pharmacy benefits manager or insurer shall require a contracted pharmacy to charge an enrollee or insured person the pharmacy's usual and customary price of filling the prescription or the contracted copayment, whichever is less. II. Once it has settled a claim for filling a…

No more than 30 percent above its actual indebtedness shall be assessed by any such company to close its affairs; and the officers and agents thereof shall not receive more than 20 percent of the money collected for their services in closing its business.

I. Nothing in this chapter shall be construed to require an insurer to obtain an insurance producer license. For the purposes of this section "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. II. A license as an insurance produce…

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, i…

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 prod…

I. The employees and authorized representatives of vendors may sell or offer portable electronics insurance to customers and shall not be subject to licensure as an insurance producer under this chapter provided that: (a) The vendor obtains a limited lines license to authorize it…

I. Notwithstanding any provision of law to the contrary, a travel retailer whose insurance related activities, and those of its employees and authorized representative, are limited to offering and disseminating travel insurance on behalf of and under the direction of a limited li…

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 ade…

I. A person applying for a public adjuster license shall make application to the commissioner on the appropriate uniform application or other application prescribed by the commissioner. II. The applicant shall declare under penalty of perjury and under penalty of refusal, suspens…

I. Actions by Commissioner. Except as provided in paragraph II of this section and RSA 402-C:24, I, no delinquency proceeding shall be commenced under this chapter by anyone other than the commissioner of this state and no court shall have jurisdiction to entertain, hear or deter…

A pharmacy benefit manager shall not, either directly or indirectly: I. Prohibit an in-network retail pharmacy from: (a) Mailing or delivering a prescription drug to an enrollee as an ancillary service of the in-network retail pharmacy provided that confirmation of delivery is ob…

I. Third Party's Claim. Whenever any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator. The filing of the claim shall release the insured's liability to the third party on that cause of acti…

I. Notice of Rejection and Request for Hearing. When a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant and his attorney by first class mail at the address shown in the proof of claim. Within 60 days from th…

Whoever violates any provision of this subdivision shall be fined not more than $2,500 or shall have any license suspended or revoked or shall both be fined and have any license suspended or revoked.

Whenever a creditor whose claim against an insurer is secured in whole or in part by the undertaking of another person fails to prove and file that claim, the other person may do so in the creditor's name, and shall be subrogated to the rights of the creditor, whether the claim h…

I. The value of any security held by a secured creditor shall be determined in one of the following ways, as the court directs: (a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor; (b) By agre…

The order of distribution of claims from the insurer's estate shall be as stated in this section. The first $50 of the amount allowed on each claim in the classes under paragraphs II, V, and VI except claims of the guaranty associations as defined in RSA 404-B, 404-H, 404-D, and …

I. Recommended Claims. The liquidator shall review all claims duly filed in the liquidation and shall make such further investigation as he deems necessary. He may compound, compromise or in any other manner negotiate the amount for which claims will be recommended to the court. …

I. Payments to Creditors. Under the direction of the court, the liquidator shall pay dividends in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and u…

No insurance company, association, or society or officer, director, agent, broker, or solicitor thereof, shall issue, circulate, or use, or cause or permit to be issued, circulated, or used, any statement, estimate, illustration, or circular misrepresenting the terms of any polic…

I. Unclaimed Funds. All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member or other person who is unknown or cannot be found or w…

No insurance company, association or society, officer, director, agent, solicitor or broker, nor any person, firm, association, or corporation, shall make any misrepresentation, oral, written, or otherwise, or any misleading estimate of the dividends or share of surplus to be rec…

I. Liquidator's Application. When all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders deemed app…

Whoever violates any provision of this subdivision shall be fined not more than $2,500 or shall have any license suspended or revoked or shall both be fined and have any license suspended or revoked.

After the liquidation proceeding has been terminated and the liquidator discharged, the commissioner or other interested party may at any time petition the court to reopen the proceedings for good cause, including the discovery of additional assets. If the court is satisfied that…