New Hampshire Revised Statutes 412:7 – Policies; Forms
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For policies of insurance issued to large commercial policyholders defined in N.H. Rev. Stat. § 412:3, XI, the filing requirements for forms or policy contracts shall not apply, except that:
I. All policies issued pursuant to the provisions of this chapter shall contain a conspicuous disclaimer printed in at least 10-point, bold-faced type that states that the policy applied for, including the rates, rating plans, resulting premiums, and the policy forms, are not subject to the rate and form requirements of this state and other provisions of the insurance law that apply to other commercial products and may contain significant differences from a policy that is subject to all provisions of the insurance law. Such notice shall set forth possible differences in policy conditions, forms, and endorsements, as compared to a policy that is subject to all of the provisions of the insurance law. The commissioner may prescribe the format and provisions of such notice. The disclosure notice shall also include a policyholder’s acknowledgment statement, to be signed and dated prior to the effective date of the coverage, and shall remain on file with the insurer.
II. In procuring insurance, a large commercial policyholder shall certify that it meets the eligibility requirements set out in N.H. Rev. Stat. § 412:3, XI and specify the requirements that the policyholder has met. This certification is to be completed annually and remain on file with the insurer.
III. A surplus lines broker seeking to obtain or provide insurance for a large commercial policyholder is not authorized to purchase insurance from any eligible unauthorized insurer without making a diligent search of authorized insurers as required by N.H. Rev. Stat. § 405:24.
I. All policies issued pursuant to the provisions of this chapter shall contain a conspicuous disclaimer printed in at least 10-point, bold-faced type that states that the policy applied for, including the rates, rating plans, resulting premiums, and the policy forms, are not subject to the rate and form requirements of this state and other provisions of the insurance law that apply to other commercial products and may contain significant differences from a policy that is subject to all provisions of the insurance law. Such notice shall set forth possible differences in policy conditions, forms, and endorsements, as compared to a policy that is subject to all of the provisions of the insurance law. The commissioner may prescribe the format and provisions of such notice. The disclosure notice shall also include a policyholder’s acknowledgment statement, to be signed and dated prior to the effective date of the coverage, and shall remain on file with the insurer.
Terms Used In New Hampshire Revised Statutes 412:7
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. In procuring insurance, a large commercial policyholder shall certify that it meets the eligibility requirements set out in N.H. Rev. Stat. § 412:3, XI and specify the requirements that the policyholder has met. This certification is to be completed annually and remain on file with the insurer.
III. A surplus lines broker seeking to obtain or provide insurance for a large commercial policyholder is not authorized to purchase insurance from any eligible unauthorized insurer without making a diligent search of authorized insurers as required by N.H. Rev. Stat. § 405:24.