CHAPTER 401 INCORPORATION AND POWERS OF INSURANCE COMPANIES
Section 401:1
401:1 Purposes. –
Subject to the additional or varied requirements stated in this chapter, a corporation with capital stock may be formed, pursuant to the provisions of RSA 293-A, and a corporation to carry on business on the mutual plan may be formed pursuant to the provisions of RSA 292, for the purpose of conducting the following kinds of insurance business:
I. On property and rents and use and occupancy, against loss or damage by fire, smoke, smoke smudge, and lightning (whether such loss or damage is caused by burning or otherwise); against loss or damage by earthquake, hail, flood, rain, or drought, rising of the waters of the ocean or its tributaries, windstorm, or other action of the elements; against loss or damage from insects, diseases, or other causes to trees, crops, or other products of the soil; explosion (other than the explosion of steam boilers or flywheels); riot, strike, or civil commotion; war, sabotage, bombardment, invasion, military or usurped power; vandalism or malicious mischief; impact by aircraft or vehicles; breakage or leakage of water pipes or other conduits or containers or against loss or damage by water entering through leaks or openings in buildings; breakage or leakage of apparatus erected for extinguishing fires and on such apparatus against loss or damage by accidental injury and against liability of the insured for loss or damage to property caused thereby.
II. On vessels, aircraft, cars or other vehicles, freight, goods, money, effects, and money loaned on bottomry and respondentia, against loss or damage from the perils of the sea and other perils usually insured against by marine insurance, or from the risk of inland navigation and transportation; and all personal property floater risks; and on motor vehicles and aircraft, excluding the liability of the insured for the death, injury, or disability of another person arising out of the ownership, maintenance, or use of motor vehicles, and aircraft, their fittings and contents and use and occupancy, against loss or damage from accident, collision, theft, or other casualty, and against liability of the owner or user thereof for injury or damage to property caused thereby.
III. On the lives of persons and every insurance pertaining thereto or connected therewith, including endowments, and to grant, purchase, or dispose of annuities, including variable annuities.
IV. Against bodily injury or death by accident, and against disablement resulting from sickness and every insurance pertaining thereto, including quarantine and identification; or providing for the mental and emotional welfare of an individual and members of his family by defraying the costs of legal services.
V. Against the liability of the insured for the death or disability or damage to property of another and on motor vehicles and aircraft, their fittings and contents and use and occupancy, against loss or damage from accident, collision, fire, theft or other casualty.
VI. On property and rents and use and occupancy, against loss or damage and against liability of the insured therefor from explosions of steam boilers, tanks, and engines, their connection and machinery connected therewith, and breakage of flywheels and machinery and glass, and to make inspections thereof; and against loss of or damage to any property resulting from burglary, theft, larceny, robbery, forgery, fraud, vandalism, malicious mischief, confiscation or wrongful conversion, disposal or concealment by any person or persons, or from any attempt at any of the foregoing and against loss or damage from collision and against loss or damage from breakage of glass.
VII. Insurance of the performance of contracts and to guarantee the fidelity and the faithful discharge of duties of persons holding positions of trust in private or public employment or responsibility, and may, if accepted and approved by the superior court, obligee or person competent to approve such bond, act as joint or sole surety upon the official bond or the bond, recognizance or other undertaking in civil and criminal procedure of any person or corporation to the United States, to the state, or to any county, city, town, judge of probate, or other court, sheriff, magistrate or other public officer, or to any corporation or association public or private; and also may act as joint or sole surety upon any bond or undertaking to any person or corporation or to the state conditioned upon the performance of any duty or trusts, or for the doing or not doing of anything in said bond specified, and upon bonds to indemnify against loss any person or persons who are responsible as surety or sureties upon a written instrument or otherwise for the performance by others of any office, employment, contract or trust. If by law 2 or more sureties are required upon any obligation upon which such company is authorized to act as surety, it may act as joint or sole surety thereon, and may be accepted as such by the court, justice, magistrate or other officer or person authorized to approve the sufficiency of such bond or undertaking. The insurance commissioner shall transmit forthwith to each clerk, to the clerk of each district and municipal court, to each clerk of the superior court and the clerk of the supreme court, the names of all corporate surety companies as they become or cease to be qualified to do business in the state.
VIII. Other casualty risks. Insurance against any other casualty risk not otherwise specified under paragraph V, which may lawfully be the subject of insurance, if such insurance is not disapproved by the commissioner as being contrary to law or public policy.