Text to be removed highlighted in red.
189:1 Unfair Insurance Trade Practices; Insurance Fraud Investigation Unit. Amend RSA 417:30, I to read as follows:
I. Except for insurance companies writing only credit, home warranty, travel, or title insurance, every insurance company licensed to write direct business in this state shall have antifraud initiatives reasonably calculated to detect, prosecute, and prevent fraudulent insurance acts, including a written antifraud plan submitted to the commissioner.
189:2 Unfair Insurance Trade Practices; Insurance Fraud Investigation Unit. Amend RSA 417:30, IV to read as follows:
IV. If the commissioner finds that an insurer licensed to do business in New Hampshire has failed to submit a plan, as required under paragraph I of this section, reasonably calculated to detect, prosecute, and prevent fraudulent insurance acts, or has submitted but failed to execute that plan, the commissioner may issue a fine or suspend the right of the insurer to do business in this state until such time as that insurer comes into compliance with the provisions of this chapter.
189:3 Effective Date. This act shall take effect upon its passage.
Approved: July 10, 2019
Effective Date: July 10, 2019
Text to be added highlighted in green.
189:1 Unfair Insurance Trade Practices; Insurance Fraud Investigation Unit. Amend RSA 417:30, I to read as follows:
I. Except for insurance companies writing only credit, home warranty, travel, or title insurance, every insurance company licensed to write direct business in this state shall have antifraud initiatives reasonably calculated to detect, prosecute, and prevent fraudulent insurance acts, including a written antifraud plan . This plan shall be furnished to the commissioner, upon request.
189:2 Unfair Insurance Trade Practices; Insurance Fraud Investigation Unit. Amend RSA 417:30, IV to read as follows:
IV. If the commissioner finds that an insurer licensed to do business in New Hampshire has failed to execute an antifraud plan, the commissioner may issue a fine or suspend the right of the insurer to do business in this state until such time as that insurer comes into compliance with the provisions of this chapter.
189:3 Effective Date. This act shall take effect upon its passage.
Approved: July 10, 2019
Effective Date: July 10, 2019