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HB347: adding insurer's policy administration expenses to commercial rate standards.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
- John B. Hunt House ยท Ches 11
Topics
Official links
CHAPTER 103
HB 347 - FINAL VERSION
2019 SESSION
19-0683
01/10
HOUSE BILL 347
AN ACT adding insurer's policy administration expenses to commercial rate standards.
ANALYSIS
This bill adds insurer's policy administration expenses to commercial rate standards.
This bill is a request of the insurance department.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19-0683
01/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
AN ACT adding insurer's policy administration expenses to commercial rate standards.
Be it Enacted by the Senate and House of Representatives in General Court convened:
103:1 Regulation of Forms and Rates for Property and Casualty Insurance; Rate Standards. Amend RSA 412:15, IV(a) and (b) to read as follows:
(a) Based on an insured's management, safety, and loss control policies and record;
(b) Based on the policy administration expenses; and
(c) No greater than plus or minus 40 percent of the insurer's base rates.
103:2 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 21, 2019
Effective Date: August 20, 2019