SB354 (2022) Detail

Relative to insurance adjuster licensing, insurance producer licensing fees, and the sale of credit life and credit accident and health insurance policies by banks.


SB 354  - AS INTRODUCED

 

 

2022 SESSION

22-2937

11/10

 

SENATE BILL 354

 

AN ACT relative to insurance adjuster licensing, insurance producer licensing fees, and the sale of credit life and credit accident and health insurance policies by banks.

 

SPONSORS: Sen. Soucy, Dist 18; Sen. Bradley, Dist 3; Sen. Cavanaugh, Dist 16; Rep. Bartlett, Merr. 19; Rep. Potucek, Rock. 6

 

COMMITTEE: Commerce

 

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ANALYSIS

 

This bill clarifies what constitutes good cause for purposes of insurance claim adjuster license denial, suspension, revocation, and fine.  This bill also clarifies that certain biennial renewal fees are nonrefundable.  This bill also specifies that banks do not need insurance licenses to sell credit life and credit accident and health insurance.

 

This bill is a request of the insurance department.

 

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

22-2937

11/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Two

 

AN ACT relative to insurance adjuster licensing, insurance producer licensing fees, and the sale of credit life and credit accident and health insurance policies by banks.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Insurance Claims Adjusters; Suspension, Revocation, or Fine.  Amend RSA 402-B:12 to read as follows:

402-B:12 [Suspension,] License Denial, Nonrenewal, or Revocation [or Fine].  The commissioner may for good cause shown, after notice and hearing, deny, suspend, or revoke the insurance claims adjuster's license of any holder or subject him or her to an administrative fine not to exceed $2,500 per violation or any combination or actions. Such hearing may be held by the commissioner or any person designated by him or her. Any person aggrieved by said action of the commissioner or refused a license or renewal of the same by him may appeal in accordance with the provisions of RSA 541. Good cause includes, but is not limited to, the following:

I.  Providing incorrect, misleading, incomplete, or materially untrue information in the license application.

II.  Violating any insurance laws, or violating any rule, regulation, subpoena, or order of the commissioner or of another state's insurance commissioner.

III.  Obtaining or attempting to obtain a license through misrepresentation or fraud.

IV.  Improperly withholding, misappropriating, or converting any moneys or properties in the course of doing business.

V.  Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance.

VI.  Having been convicted of a felony.

VII.  Having admitted to or been found to have committed any insurance unfair trade practice or fraud.

VIII.  Using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness or financial irresponsibility in the conduct of business in this state or elsewhere.

IX.  Having an insurance license, or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory.

X.  Forging another's name to an application for insurance or to any document related to an insurance transaction.

XI.  Improperly using notes or any other reference material to complete an examination for an insurance license.

XII.  Failing to comply with an administrative or court order imposing child support obligation.

2  Insurance Department; Fees.  Amend RSA 400-A:29, X(b) to read as follows:

(b)  Non-refundable biennial renewal $150

3  Insurance Department; Fees.  Amend RSA 400-A:29, XV(b) to read as follows:

(b)  Non-refundable biennial renewal $75

4  Insurance Department; Fees.  Amend RSA 400-A:29, XVIII(b) to read as follows:

(b)  Non-refundable biennial renewal $100

5  Insurance Department; Fees.  Amend RSA 400-A:29, XIX(b) to read as follows:

(b)  Non-refundable biennial renewal $150

6  Credit Life and Accident and Health Insurance; Issuance of Policies.  Amend RSA 408-A:9 to read as follows:

408-A:9  Issuance of Policies.  All policies of credit life insurance and credit accident and health insurance shall be delivered or issued for delivery in this state only by an insurer authorized to do an insurance business therein, and shall be issued only through holders of licenses or authorizations issued by the commissioner unless the sale is by a financial institution pursuant to RSA 406-C.

7  Producer Licensing; Application for Licensing.  Amend RSA 402-J:6, II(b) to read as follows:

(b)  The business entity has designated a licensed producer responsible for the business entity's compliance with the insurance laws, rules, and regulations of this state.  With the exception of RSA 402-L:3, V, the licensed person or persons designated by the business entity for its compliance shall be licensed to produce all of the lines of insurance that the entity is licensed to produce.

8  Effective Date.  This act shall take effect 60 days after its passage.

Links

SB354 at GenCourtMobile

Action Dates

Date Body Type
Jan. 18, 2022 Senate Hearing
Senate Floor Vote

Bill Text Revisions

SB354 Revision: 34420 Date: Dec. 17, 2021, 10:11 a.m.

Docket


Jan. 19, 2022: Committee Report: Ought to Pass; Vote 5-0; CC


Dec. 20, 2021: Hearing: 01/18/2022, Room 100, SH, 10:00 am; SC 50


Dec. 17, 2021: To Be Introduced 01/05/2022 and Referred to Commerce; SJ 1