New Hampshire Revised Statutes 404-H:3 – Scope
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This chapter shall apply to insurers with orders of liquidation with findings of insolvency that are first entered after the effective date of this chapter and shall apply to all kinds of direct insurance, but shall not be applicable to the following:
I. Life, annuity, health, or disability insurance;
II. Mortgage guaranty, financial guaranty, or other forms of insurance offering protection against investment risks;
III. Fidelity or surety bonds, or any other bonding obligations;
IV. Credit insurance, vendors’ single interest insurance, or collateral protection insurance or other forms of any similar insurance protecting the interests of a creditor arising out of a creditor-debtor transaction;
V. Insurance of warranties or service contracts including insurance that provides for the repair, replacement, or service of goods or property, indemnification for repair, replacement or service for the operational or structural failure of goods or property due to a defect of materials, workmanship, or normal wear and tear, or provides reimbursement for the liability incurred by the issuer of agreements or service contracts that provide such benefits;
VI. Title insurance;
VII. Ocean marine insurance;
VIII. Any transaction or combination of transactions between a person, including affiliates of such person, and an insurer, including affiliates of such insurer, which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk; or
IX. Any insurance provided by or guaranteed by government.
I. Life, annuity, health, or disability insurance;
Terms Used In New Hampshire Revised Statutes 404-H:3
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
II. Mortgage guaranty, financial guaranty, or other forms of insurance offering protection against investment risks;
III. Fidelity or surety bonds, or any other bonding obligations;
IV. Credit insurance, vendors’ single interest insurance, or collateral protection insurance or other forms of any similar insurance protecting the interests of a creditor arising out of a creditor-debtor transaction;
V. Insurance of warranties or service contracts including insurance that provides for the repair, replacement, or service of goods or property, indemnification for repair, replacement or service for the operational or structural failure of goods or property due to a defect of materials, workmanship, or normal wear and tear, or provides reimbursement for the liability incurred by the issuer of agreements or service contracts that provide such benefits;
VI. Title insurance;
VII. Ocean marine insurance;
VIII. Any transaction or combination of transactions between a person, including affiliates of such person, and an insurer, including affiliates of such insurer, which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk; or
IX. Any insurance provided by or guaranteed by government.