Bill Text - HB78 (2017)

Relative to penalties for violating the insurance laws regarding property and casualty insurance.


Revision: Jan. 31, 2017, 8:11 a.m.

HB 78 - AS INTRODUCED

 

 

2017 SESSION

17-0020

01/10

 

HOUSE BILL 78

 

AN ACT relative to penalties for violating the insurance laws regarding property and casualty insurance.

 

SPONSORS: Rep. Avellani, Carr. 5

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill increases the penalties for violating the insurance laws regarding property and casualty insurance.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

17-0020

01/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Seventeen

 

AN ACT relative to penalties for violating the insurance laws regarding property and casualty insurance.

 

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

 

1  Regulation of Forms and Rates for Property and Casualty Insurance; Penalties Increased.  Amend RSA 412:40, I to read as follows:

I.  The commissioner, may upon a finding that any person or organization has violated any provisions of this chapter, impose a penalty of not less than [$500] $10,000 or more than [$10,000] $40,000 for each violation, but if the violation is found to be willful, a penalty of not less than [$1,000] $30,000 or more than [$25,000] $75,000 may be imposed for each violation. Separate penalties may be in addition to any other penalty provided by law.

2  Effective Date.  This act shall take effect January 1, 2018.