Bill Details - HB339 (2019)

CHAPTER 10

HB 339 - FINAL VERSION

 

31Jan2019... 0067h

2019 SESSION

19-0640

01/04

 

HOUSE BILL 339

 

AN ACT relative to commercial modernization.

 

SPONSORS: Rep. Bartlett, Merr. 19

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill makes changes to the laws governing property and casualty insurance, specifically commercial modernization.

 

This bill is a request of the insurance department.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

31Jan2019... 0067h 19-0640

01/04

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Nineteen

 

AN ACT relative to commercial modernization.

 

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

 

10:1  Regulation of Forms and Rates for Property and Casualty Insurance; Approval of Form.  Amend RSA 412:5, I-a(a) to read as follows:

(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:

(1)  Fidelity.

(2)  [Boiler and machinery.

(3)]  Kidnap and ransom.

[(4)] (3) Political risk and expropriation.

[(5)] (4) Excess and umbrella liability.

[(6)] (5) Directors' and officers' liability.

[(7)] (6) Fiduciary liability.

[(8)] (7) Employment practices liability.

[(9)] (8) Errors and omissions and professional liability other than medical malpractice.

[(10)] (9) Media liability.

[(11)] (10) Product liability, product recall, and completed operations.

[(12)] (11) Highly protected commercial property.

[(13)] (12)  Commercial flood insurance other than the National Flood Insurance Program.

[(14)] (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.

10:2  Regulation of Forms and Rates for Property and Casualty Insurance; Approval of Form.  Amend RSA 412:5, VI to read as follows:

VI.  This section shall not apply to the following insurance products: mortgage guaranty [insurance], surety bonds, [and] commercial inland marine [insurance], financial guaranty, and boiler and machinery.

10:3  New Subparagraphs; Regulation of Forms and Rates for Property and Casualty Insurance; Rate Filings.  Amend RSA 412:16, I by inserting after subparagraph (g) the following new subparagraphs:

(h)  Mortgage guaranty.

(i)  Fiduciary liability.

10:4  Effective Date.  This act shall take effect 60 days after its passage.

 

Approved: May 10, 2019

Effective Date: July 09, 2019

Docket

Date Status
Jan. 2, 2019 Introduced 01/02/2019 and referred to Commerce and Consumer Affairs HJ 2 P. 46
Jan. 15, 2019 Public Hearing: 01/15/2019 10:45 am LOB 302
Jan. 22, 2019 Subcommittee Work Session: 01/22/2019 11:00 am LOB 302
Jan. 22, 2019 Executive Session: 01/22/2019 01:30 pm LOB 302
Jan. 31, 2019 Committee Report: Ought to Pass with Amendment # 2019-0067h for 01/31/2019 (Vote 18-0; CC) HC 9 P. 3
Committee Report: Ought to Pass with Amendment # 2019-0067h (Vote 18-0; CC)
Jan. 31, 2019 Amendment # 2019-0067h: AA VV 01/31/2019 HJ 4 P. 3
Jan. 31, 2019 Ought to Pass with Amendment 2019-0067h: MA VV 01/31/2019 HJ 4 P. 3
March 7, 2019 Introduced 03/07/2019 and Referred to Commerce; SJ 8
March 26, 2019 Hearing: 03/26/2019, Room 100, SH, 01:30 pm; SC 15
April 11, 2019 Committee Report: Ought to Pass, 04/11/2019; Vote 5-0; CC SC 17
April 11, 2019 Ought to Pass: MA, VV; OT3rdg; 04/11/2019; SJ 12
April 25, 2019 Enrolled (In recess 04/25/2019); SJ 15
April 11, 2019 Enrolled 04/11/2019
May 10, 2019 Signed by Governor Sununu 05/10/2019; Chapter 10; Eff: 07/09/2019

Action Dates

Date Body Type
Jan. 15, 2019 House Hearing
Jan. 22, 2019 House Exec Session
House Floor Vote
Jan. 31, 2019 House Floor Vote
March 26, 2019 Senate Hearing
April 11, 2019 Senate Floor Vote

Bill Text Revisions

HB339 Revision: 4549 Date: Dec. 31, 2018, 12:41 p.m.
HB339 Revision: 5316 Date: Jan. 31, 2019, 10:45 a.m.
HB339 Revision: 5734 Date: April 11, 2019, 10:20 a.m.
HB339 Revision: 5948 Date: May 13, 2019, 11:28 a.m.