REGULATION OF FORMS AND RATES FOR PROPERTY AND CASUALTY INSURANCE
Forms Regulation-General Provisions
412:5 Approval of Form.
I. Every insurer and advisory organization shall file policy forms, endorsements, and other contract language covered by this chapter and RSA 264, for a waiting period of 30 days before it becomes effective, which period may be extended by the commissioner for an additional period not to exceed 30 days if written notice or electronic notice is given within the initial 30-day waiting period to the insurer or advisory organization which made the filing that additional time is needed for the consideration of the filing. Upon written application by the insurer or advisory organization, the commissioner may authorize a filing which has been reviewed to become effective before the expiration of the waiting period or extension thereof. The commissioner may disapprove such form if it contains a provision that does not comply with the requirements of law, is not in the public interest, is contrary to public policy, is inequitable, misleading, deceptive, or encourages misrepresentation of such policy. An approved filing and any supporting information that is not exempt from disclosure by law or rule shall be open to public inspection on or after the date that the filing is approved or the effective date, whichever is later. A filing shall be deemed to meet the requirements of this chapter unless disapproved by the commissioner within the waiting period or extension thereof. Every policy issued by an insurer on an unapproved form shall constitute a separate violation under RSA 412:40.
I-a. Except as otherwise provided in this section:
(a) Forms for the following types of commercial insurance shall be exempt from the 30-day waiting period requirement of paragraph I and shall instead be filed for informational and auditing purposes only and shall be filed within 30 days of the effective date:
(2) Kidnap and ransom.
(3) Political risk and expropriation.
(4) Excess and umbrella liability.
(5) Directors' and officers' liability.
(6) Fiduciary liability.
(7) Employment practices liability.
(8) Errors and omissions and professional liability other than medical malpractice.
(9) Media liability.
(10) Product liability, product recall, and completed operations.
(11) Highly protected commercial property.
(12) Commercial flood insurance other than the National Flood Insurance Program.
(13) Any other commercial lines of insurance coverage or risk that the commissioner shall, pursuant to regulation, exempt from policy form filing requirements in order to promote enhanced competition or to more effectively use the resources of the department.
(b) All other standards in paragraph I shall apply to forms that are filed for information and audit purposes under this paragraph.
(c) Subparagraph (a) shall not apply to the insurance listed under subparagraphs (a)(1)-(11) when:
(1) The commissioner has determined that a reasonable degree of competition does not exist for that type of insurance, and a ruling has been issued to that effect in accordance with RSA 412:13; or
(2) The policy form for that type of insurance is issued by a risk sharing plan established under RSA 404-C.
II. No liability policy issued or delivered in this state that insures against personal risk shall contain any exclusion which would preclude coverage for intra-family or inter-spousal claims.
III. No liability policy issued or delivered in this state shall contain coverage for payment of a fine or penalty for a criminal offense provided, however, the policy may provide coverage for defense costs and restitution to injured parties.
IV. An insurer may authorize an advisory organization to file policy forms, endorsements and other contract language on its behalf.
V. Every insurer and advisory organization shall provide reasonable means whereby any person aggrieved by the application of an insurer's rating system, claims practices, sales practices or underwriting procedures may be heard, in person or by an authorized representative, upon the person's written request to review the manner in which such procedures were applied in connection with insurance afforded or tendered to the person.
VI. This section shall not apply to the following insurance products: mortgage guaranty, surety bonds, commercial inland marine, financial guaranty, and boiler and machinery.
Source. 2003, 150:1. 2006, 9:2. 2008, 212:4. 2009, 215:4. 2014, 31:7. 2015, 70:1, eff. Aug. 1, 2015. 2017, 55:2, 3, eff. Aug. 1, 2017. 2018, 68:2, eff. July 24, 2018. 2019, 10:1, 2, eff. July 9, 2019.