CHAPTER 214
SB 142 - FINAL VERSION
06/29/2023 2238EBA
2023 SESSION
23-0749
05/04
SENATE BILL 142
AN ACT relative to the regulation of forms and rates for property and casualty insurance.
SPONSORS: Sen. Lang, Dist 2; Sen. Birdsell, Dist 19; Sen. Gannon, Dist 23; Sen. Bradley, Dist 3; Sen. Avard, Dist 12; Sen. Pearl, Dist 17; Sen. Murphy, Dist 16; Sen. Carson, Dist 14; Sen. Innis, Dist 7; Rep. Burroughs, Carr. 2; Rep. Hunt, Ches. 14; Rep. Potucek, Rock. 13; Rep. Moffett, Merr. 4
COMMITTEE: Commerce
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ANALYSIS
This bill makes certain technical corrections to RSA 412, relative to the regulation of forms and rates for property and casualty insurance. The 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
06/29/2023 2238EBA 23-0749
05/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to the regulation of forms and rates for property and casualty insurance.
Be it Enacted by the Senate and House of Representatives in General Court convened:
214:1 Rate Standards. Amend the introductory paragraph of RSA 412:15, IV to read as follows:
IV. For commercial risks, except for workers' compensation which is governed by RSA 412:34, the commissioner may permit insurers to use appropriate systems of schedule rating filed by any insurer or [rating bureau] advisory organization approved by the commissioner, subject to rules adopted under RSA 541-A, to assure the uniform and impartial application of such rating. Insurers shall retain supporting documentation for such ratings. Such ratings shall be:
214:2 Rate Filings. Amend RSA 412:16, II to read as follows:
II. Every insurer shall file with the commissioner every manual, predictive model or telematics model or other model that pertains to the formulation of rates and/or premiums, minimum premium, class rate, rating schedule or rating plan and every other rating rule, and every modification of any of the foregoing which it proposes to use. Personal lines filings shall include underwriting rules used by insurers or a group of affiliated insurers to the extent necessary to determine the applicable rate and/or policy premium for an individual insured or applicant. An insurer may file its rates by either filing its final rates or by filing a multiplier and, if applicable, an expense constant adjustment to be applied to prospective loss costs that have been filed by an advisory organization on behalf of the insurer as permitted by RSA 412:23. Every such filing shall state the effective date, and shall indicate the character and extent of the coverage contemplated. [Information contained in the underwriting rules that does not pertain to the formulation of rates and/or premiums shall be identified by the filer as proprietary and shall be kept confidential by the department and shall not be subject to the provisions of RSA 91-A.] Proprietary underwriting rules regarding eligibility and placement of risks, proprietary predictive models in support of proposed rates and/or rating factors, and any other proprietary commercial information that is not necessary for the calculation of a policy premium for an individual insured or applicant are confidential and shall not be subject to the provisions of RSA 91-A. The insurer shall identify the information as confidential in its filing.
214:3 Licensing Advisory Organizations and Statistical Agents. Amend RSA 412:20, III(e) to read as follows:
(e) Advisory organizations wishing to operate as statistical agents [or organizations who hold a current license as a rating organization] within this state may be so authorized under their license as an advisory organization. A separate license is not required.
214:4 Schedule Rating. Amend the introductory paragraph of RSA 412:34 to read as follows:
412:34 Schedule Rating. The commissioner may permit insurers to use appropriate systems of schedule rating filed by any insurer or [rating bureau] advisory organization approved by the commissioner, subject to rules adopted under RSA 541-A, to assure the uniform and impartial application of such rating. Such ratings shall be:
214:5 Effective Date. This act shall take effect 60 days after its passage.
Approved: August 04, 2023
Effective Date: October 03, 2023
| Date | Amendment |
|---|---|
| July 11, 2023 | 2023-2238EBA |
| Date | Body | Type |
|---|---|---|
| Jan. 31, 2023 | Senate | Hearing |
| Feb. 9, 2023 | Senate | Floor Vote |
| April 19, 2023 | House | Hearing |
| May 10, 2023 | House | Exec Session |
| May 10, 2023 | House | Floor Vote |
Aug. 9, 2023: Signed by the Governor on 08/04/2023; Chapter 0214; Effective 10/03/2023
July 18, 2023: Enrolled Adopted, VV, (In recess 06/29/2023); SJ 20
July 18, 2023: Enrolled Adopted, VV, (In recess 06/29/2023); SJ 20
July 19, 2023: Enrolled (in recess of) 06/29/2023 HJ 17 P. 18
July 11, 2023: Enrolled Bill Amendment # 2023-2238e Adopted, VV, (In recess of 06/29/2023); SJ 20
July 11, 2023: Enrolled Bill Amendment # 2023-2238e: AA VV (in recess of) 06/29/2023 HJ 17
July 11, 2023: Enrolled Bill Amendment # 2023-2238e Adopted, VV, (In recess of 06/29/2023); SJ 20
July 11, 2023: Enrolled Bill Amendment # 2023-2238e: AA VV (in recess of) 06/29/2023 HJ 17 P. 16
June 8, 2023: Ought to Pass: MA VV 06/08/2023 HJ 15 P. 4
May 12, 2023: Committee Report: Ought to Pass 05/10/2023 (Vote 18-0; CC)
May 3, 2023: Executive Session: 05/10/2023 10:00 am LOB 302-304
April 27, 2023: Subcommittee Work Session: 05/03/2023 01:15 pm LOB 302-304
April 12, 2023: Public Hearing: 04/19/2023 11:00 am LOB 302-304
March 20, 2023: Introduced (in recess of) 03/16/2023 and referred to Commerce and Consumer Affairs
Feb. 9, 2023: Ought to Pass: MA, VV; OT3rdg; 02/09/2023; SJ 6
Feb. 1, 2023: Committee Report: Ought to Pass, 02/09/2023; Vote 5-0; CC; SC 9
Jan. 25, 2023: Hearing: 01/31/2023, Room 100, SH, 10:00 am; SC 8
Jan. 19, 2023: Introduced 01/19/2023 and Referred to Commerce; SJ 5