REGULATION OF FORMS AND RATES FOR PROPERTY AND CASUALTY INSURANCE
Forms Regulation-General Provisions
412:6-b Certificates of Insurance.
I. In this section:
(a) "Certificate" or "certificate of insurance" means any document or instrument, no matter how titled or described, which is issued by an insurer or insurance producer as evidence of property or casualty insurance coverage. "Certificate" or "certificate of insurance" shall not include a policy of insurance or insurance binder.
(b) "Certificate holder" means any person, other than a policyholder, who possesses a certificate of insurance and is identified as the certificate holder on the certificate.
(c) "Insurance producer" means an insurance producer licensed under RSA 402-J.
(d) "Insurer" means an entity established to conduct the kinds of insurance business as provided in RSA 401 and licensed in accordance with the provisions of RSA 402 or RSA 405.
(e) "Person" means any individual, partnership, corporation, association, or other legal entity, including any government or governmental subdivision or agency.
(f) "Policyholder" means a person who has contracted with a property or casualty insurer for insurance coverage.
II. (a) No person shall issue a certificate of insurance that:
(1) Does not comply with the requirements of subparagraph (b).
(2) Is misleading, deceptive, or encourages misrepresentation.
(3) Violates any law.
(b) The following are requirements for the content, purpose, issuance, and use of certificates of insurance:
(1) Each certificate shall contain the following statement, or language substantially similar, in sufficient font and size and located on the certificate to be readily identifiable:
"This certificate of insurance is issued as a matter of information only and confers no rights upon the certificate holder. This certificate does not amend, extend, or alter the coverage, terms, exclusions, and conditions afforded by the policy or policies referenced herein."
(2) No person shall demand or require the issuance of a certificate of insurance from an insurer, insurance producer, or policyholder that contains any false or misleading information concerning any policy of insurance to which the certificate makes reference.
(3) No person shall knowingly prepare or issue a certificate of insurance that contains any false or misleading information.
(4) No person shall prepare or issue a certificate of insurance that purports to affirmatively or negatively alter, amend, or extend the coverage provided by any policy of insurance referenced in the certificate; provided that with respect to subparagraph (3) and this subparagraph a certificate may show an umbrella/excess liability limit less than the actual policy limit if the certificate is issued with respect to a particular agreement or contract and such lower limit meets the requirements of the agreement.
(5) The requirements of this section shall apply to certificates of insurance issued as evidence of insurance policies and coverage on property, operations, or any risk located in this state, regardless of where the certificate holder, policyholder, insurer, or insurance producer is located.
(6) No certificate of insurance shall contain references to contracts, including construction or service contracts, other than the referenced contract of insurance, unless such reference is in relation to coverage or other requirements of the insurance contract.
(7) A certificate holder shall only have a contractual right to notice of cancellation, nonrenewal, or any similar notice concerning a policy of insurance if the person is identified and designated within the policy or any endorsement to that policy as an additional insured and that policy or endorsement requires notice to be provided.
(c) The commissioner may publish sample certificates of insurance which provide templates as to form and content, which, in his or her opinion, meet the requirements of subparagraph (b) and are acceptable for use by insurers and insurance producers. In addition to templates developed by the commissioner, insurance industry trade organizations, and supporting entities, may submit templates for consideration and inclusion in the set of sample certificates so published.
(d) An insurer or insurance producer may prepare or issue an addendum to a certificate that clarifies and explains the coverage provided by any policy of insurance referenced in the certificate and otherwise complies with the requirements of this section.
(e) An insurance producer may charge a reasonable fee for providing a certificate. A fee shall be reasonable if it accurately reflects the actual effort and cost to the producer required to prepare and issue the certificate.
(f) With the permission of the policy holder, an insurance producer may provide any bank or lending institution with a copy of the certificate of insurance, policy of insurance, or insurance binder relating to the subject property. If the insurance producer provides a copy of the insurance, policy of insurance, or insurance binder, an insurance producer may complete supplemental questionnaires for a bank or lending institution, provided that the insurance producer shall not be required to analyze or warrant any provisions of the insurance policy.
Source. 2011, 137:1. 2012, 100:6-8, eff. July 28, 2012. 2018, 24:1, eff. July 14, 2018.