HB1450 (2016) Detail

Relative to risk-based capital for insurers.


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CHAPTER 113

HB 1450 - FINAL VERSION

 

2016 SESSION

\t16-2442

\t01/03

 

HOUSE BILL\t1450

 

AN ACT\trelative to risk-based capital for insurers.

 

SPONSORS:\tRep. Hunt, Ches. 11; Rep. Butler, Carr. 7; Rep. Flanders, Belk. 3; Sen. Bradley, Dist 3

 

COMMITTEE:\tCommerce and Consumer Affairs

 

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ANALYSIS

 

\tThis bill adjusts the risk-based capital trend test for insurers.

 

\tThis bill is a request of the insurance department.

 

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Explanation:\tMatter added to current law appears in bold italics.

\t\tMatter removed from current law appears [in brackets and struckthrough.]

\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.

\t16-2442

\t01/03

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Sixteen

 

AN ACT\trelative to risk-based capital for insurers.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

\t113:1  Risk-Based Capital for Insurers; Company Action Level Event.  Amend RSA 404-F:3, I(a)(2) to read as follows:

\t\t\t\t(2)  If a life and/or health insurer, the insurer has total adjusted capital which is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and [2.5] 3.0 and has a negative trend; or

\t113:2  Effective Date.  This act shall take effect 60 days after its passage.

Approved: May 20, 2016

Effective Date: July 19, 2016