Revision: Jan. 12, 2021, 12:25 p.m.
HB 518 - AS INTRODUCED
2021 SESSION
21-1063
08/10
HOUSE BILL 518
AN ACT relative to rebates under the law governing unfair insurance practices.
SPONSORS: Rep. Infantine, 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
21-1063
08/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty One
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.