CHAPTER 412 REGULATION OF FORMS AND RATES FOR PROPERTY AND CASUALTY INSURANCE
Rate Regulation-General Provisions
Section 412:14
412:14 Monitoring Competition. –
I. In determining whether or not a competitive market exists pursuant to RSA 412:13, the commissioner shall monitor the degree of competition in this state. In doing so, the commissioner shall utilize existing relevant information, analytical systems and other sources; cause or participate in the development of new relevant information, analytical systems and other sources; or rely on some combination thereof. Such activities may be conducted internally within the insurance department, in cooperation with other state insurance departments, through outside contractors or in any other appropriate manner.
II. All of the following may be considered by the commissioner:
(a) The extent to which the largest insurer groups control the insurance marketplace.
(b) Whether the total number of companies writing the form of insurance in this state is sufficient to provide multiple options to the public.
(c) The extent to which insurer entries and exits, considered over several years, suggest the presence or lack of entry or exit barriers or both.
(d) The degree to which the insurance products offered to consumers are homogenous in nature and, thus, comparable.
(e) The availability of insurance coverage in all geographic areas. A review of changes in residual market shares, if applicable, may be used as an indication of availability.
(f) The overall rate level which is not excessive, inadequate, or unfairly discriminatory.
(g) The trend in price level for each type of insurance.
(h) The profitability of each form of insurance over a period of several years.
(i) The level of knowledge of market participants and the extent to which comparative pricing information has been made readily available to consumers.
(j) The extent to which the market for each type of insurance is growing.
(k) The presence of conditions indicating reverse competition.
(l) Any other factors customarily reviewed and considered relevant.
III. For the purpose of carrying out the provisions of this section, the commissioner may, at any time, request information or data from insurers authorized to conduct business in this state that the commissioner believes relevant to monitoring and maintaining a competitive market.