Licenses for Companies

Section 405:12

    405:12 Licenses. –
I. If the foregoing provisions are complied with and the commissioner is satisfied that the company (a) has the requisite capital and assets; (b) is a safe, reliable company, entitled to confidence; and (c) is consistent with the NAIC's Uniform Certificate of Authority Application process and standards, the commissioner shall grant a license to it to do insurance business by authorized agents within the state, subject to the laws of the state, until June 14 thereafter. Annually thereafter, on June 14, such license may be renewed so long as the company shall comply with the requirements of the law, NAIC guidelines, and the commissioner shall regard it as safe, reliable and entitled to confidence, and so long as the company continues to conduct a meaningful insurance business, as determined by the commissioner, within New Hampshire.
II. Every insurance company shall conduct its business in the legal name of the insurer as it appears on the insurer's application filed with the NAIC for a company code number. If an insurer is part of a group of affiliated insurers, the group name may appear in addition to the name of the individual insuring company, but the group name shall not be used in lieu of the legal name of the individual company.
(a) All insurance policies and contracts, and any endorsements or amendments separately issued and intended to be attached to such policies or contracts, shall identify the legal name, as set forth in paragraph II, of the insurer that is directly assuming the obligations under the policy or contract. Inclusion of the legal name of the insurer in a policy jacket, declaration, or other similar cover page issued with the policy, contract, or endorsement shall be deemed to be in compliance with this requirement.
(b) Identification of the insuring company on any advertisement or promotional materials shall be governed by the laws or rules related to the advertisements, misrepresentations in sale of insurance, and misrepresentation in insurance transactions.

Source. GL 174:2. 1889, 86:1. PS 169:6. PL 275:11. RL 325:12. RSA 405:12. 1973, 74:3. 1977, 232:5. 1983, 371:3. 2009, 215:2, eff. Jan. 1, 2010. 2021, 207:2, Pt. VI, Sec. 2, eff. Oct. 9, 2021.