Revision: Dec. 2, 2019, 2:47 p.m.
HB 1340 - AS INTRODUCED
2020 SESSION
20-2468
01/06
HOUSE BILL 1340
AN ACT relative to rebates under the law governing unfair insurance practices.
SPONSORS: Rep. Gagne, Hills. 13
COMMITTEE: Commerce and Consumer Affairs
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ANALYSIS
This bill declares that a producer may rebate all or a portion of the producer's commission to employees of the producer for policies of the employee.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
20-2468
01/06
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty
AN ACT relative to rebates under the law governing unfair insurance practices.
Be it Enacted by the Senate and House of Representatives in General Court convened:
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.