Text to be removed highlighted in red.
177:1 Risk-Based Capital for Insurers; Health Maintenance Organizations. Amend RSA 404-F:1, VI to read as follows:
VI. "Life and/or health insurer'' means any insurance company licensed under title XXXVII writing life, accident and health insurance, health maintenance organizations, limited health service organizations, dental or vision plans, health service corporations, or a licensed property and casualty insurer writing only accident and health insurance.
177:2 New Paragraph; Risk-Based Capital for Insurers; Reports. Amend RSA 404-F:2 by inserting after paragraph III the following new paragraph:
III-a. A health organization's RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take into account, and may adjust for the covariance between:
(a) Asset risk;
(b) Credit risk;
(c) Underwriting risk; and
(d) All other business risks and such other relevant risks as are set forth in the RBC instructions.
177:3 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 08, 2018
Effective Date: August 07, 2018
Text to be added highlighted in green.
177:1 Risk-Based Capital for Insurers; Health Maintenance Organizations. Amend RSA 404-F:1, VI to read as follows:
VI. "Life and/or health insurer'' means any insurance company licensed under title XXXVII writing life, accident and health insurance or a licensed property and casualty insurer writing only accident and health insurance.
177:2 New Paragraph; Risk-Based Capital for Insurers; Reports. Amend RSA 404-F:2 by inserting after paragraph III the following new paragraph:
III-a. A health organization's RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take into account, and may adjust for the covariance between:
(a) Asset risk;
(b) Credit risk;
(c) Underwriting risk; and
(d) All other business risks and such other relevant risks as are set forth in the RBC instructions.
177:3 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 08, 2018
Effective Date: August 07, 2018