Bill Text: NH HB347 | 2019 | Regular Session | Enrolled

---

Bill Title: Adding insurer's policy administration expenses to commercial rate standards.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2019-06-24 - Signed by Governor Sununu 06/21/2019; Chapter 103; Eff: 08/20/2019 [HB347 Detail]

Download: New_Hampshire-2019-HB347-Enrolled.html

---

HB 347 - VERSION ADOPTED BY BOTH BODIES

 

 

2019 SESSION

19-0683

01/10

 

HOUSE BILL 347

 

AN ACT adding insurer's policy administration expenses to commercial rate standards.

 

SPONSORS: Rep. Hunt, Ches. 11

 

COMMITTEE: Commerce and Consumer Affairs

 

-----------------------------------------------------------------

 

ANALYSIS

 

This bill adds insurer's policy administration expenses to commercial rate standards.

 

This bill is a request of the insurance department.

 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.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:

 

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.

2  Effective Date.  This act shall take effect 60 days after its passage.