Text to be removed highlighted in red.
1 Unfair Insurance Trade Practices; Rebating. Amend RSA 417:4, IX(b)(15) to read as follows:
(15) The rebate of all or part of a producer's commission on the sale of commercial insurance as defined in RSA 412 provided the insurer expressly provides for such rebate in rate filings approved by the commissioner and the reduction of the commission is not disclosed to the insured either directly or indirectly.
2 Effective Date. This act shall take effect 60 days after its passage.
Text to be added highlighted in green.
1 Unfair Insurance Trade Practices; Rebating. Amend RSA 417:4, IX(b)(15) to read as follows:
(15) The rebate of all or part of a producer's commission on the sale of commercial insurance as defined in RSA 412 provided the insurer expressly provides for such rebate in rate filings approved by the commissioner and the reduction of the commission is not disclosed to the insured either directly or indirectly. ;
(16) The rebate of all or part of a producer's commission on the sale of insurance to an employee of the producer.
2 Effective Date. This act shall take effect 60 days after its passage.