HB 433 - AS AMENDED BY THE HOUSE
HOUSE BILL 433
SPONSORS: Rep. Hunt, Ches. 11
COMMITTEE: Commerce and Consumer Affairs
This bill inserts a definition section into RSA 405 for clarity.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.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... 0068h 19-0681
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
Be it Enacted by the Senate and House of Representatives in General Court convened:
405:24-a Definitions. In this subdivision:
I. “Admitted insurer” means an insurer licensed to do an insurance business in this state.
II. “Alien insurer" means an insurance company formed according to the laws of a foreign country.
III. "Capital,” as used in the financial requirements of RSA 405:24, means funds paid in for stock or other evidence of ownership.
IV. “Eligible surplus lines insurer” means an unadmitted insurer with which a surplus lines licensee may place surplus lines insurance pursuant to RSA 405:24
V. “Foreign insurer” means an insurance company selling policies in a state other than the state in which they are incorporated or domiciled.
VI. “Insurer” means any person, corporation, association, partnership, and reciprocal exchange, interinsurer, Lloyds insurer, insurance exchange syndicate, and any other legal entity engaged in the of business of insurance
VII. “Nonadmitted” or “unadmitted” means an insurer not licensed to do business in this state.
VIII. “Person” means any natural person or other entity, including, but not limited to, individuals, partnerships, associations, trusts, or corporations.
IX. “Policy” or “contract” means any contract of insurance, including but not limited to indemnity, fidelity, or suretyship.
X. “Surplus,” as used in the financial requirements of RSA 405:24, means funds over and above liabilities and capital of the company for the protection of policyholders.
XI. “Surplus lines insurance “ means property and casualty insurance in this state on properties, risks or exposures, located or performed in this state, permitted to be placed through a surplus lines licensee with an unadmitted insurer eligible to accept such insurance, pursuant to RSA 405:24
XII. “Surplus lines licensee” means an individual, firm, or corporation licensed under RSA 405:24 to place insurance on properties, risks, or exposures located or to be performed in this state with unadmitted insurers eligible to accept such insurance.
XIII. “Type of insurance” means coverage afforded under the particular policy that is being placed.
|Jan. 3, 2019||Introduced 01/03/2019 and referred to Commerce and Consumer Affairs HJ 3 P. 14|
|Jan. 15, 2019||Public Hearing: 01/15/2019 01:15 pm 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 # 2019-0068h for 01/31/2019 (Vote 15-3; RC) HC 9 P. 6|
|Committee Report: Ought to Pass with Amendment # 2019-0068h (Vote 15-3; RC)|
|Minority Committee Report: Inexpedient to Legislate|
|Jan. 31, 2019||Amendment # 2019-0068h: AA VV 01/31/2019 HJ 4 P. 7|
|Jan. 31, 2019||Ought to Pass with Amendment 2019-0068h: MA VV 01/31/2019 HJ 4 P. 7|
|March 7, 2019||Introduced 03/07/2019 and Referred to Commerce; SJ 8|
|March 26, 2019||Hearing: 03/26/2019, Room 100, SH, 01:15 pm; SC 15|
|Jan. 15, 2019||House||Hearing|
|Jan. 22, 2019||House||Exec Session|
|Jan. 31, 2019||House||Floor Vote|
|March 26, 2019||Senate||Hearing|