CHAPTER 153

HB 1376 – FINAL VERSION

06Feb2008… 0227h

2008 SESSION

08-2394

01/03

HOUSE BILL 1376

AN ACT relative to insurance penalties.

SPONSORS: Rep. Spratt, Hills 3; Rep. DeStefano, Merr 13

COMMITTEE: Commerce

ANALYSIS

This bill clarifies the penalties for violations of certain insurance laws.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

06Feb2008… 0227h

08-2394

01/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eight

AN ACT relative to insurance penalties.

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

153:1 Insurance Department; Reference Addition. Amend the section heading of RSA 400-A:15 to read as follows:

400-A:15 Statutes, Rules, and Regulations; Violation.

153:2 Insurance Department; Violations. Amend RSA 400-A:15, III to read as follows:

III. Any person who knowingly violates any statute, rule, regulation, or order of the commissioner may, upon hearing, except where other penalty is expressly provided, be subject to such suspension or revocation of certificate of authority or license, or administrative fine not to exceed $2,500 [in lieu of such suspension or revocation] per violation, as may be applicable under this title for violation of the statute or the provision to which [such] the rule, regulation, or order relates.

153:3 New Section; Market Conduct; Penalties. Amend RSA 400-B by inserting after section 11 the following new section:

400-B:12 Penalties. Any insurer or related entity who knowingly violates any provision of this chapter may, upon hearing, except where other penalty is expressly provided, be subject to suspension or revocation of its certificate of authority or license, and an administrative fine not to exceed $2,500 per violation.

153:4 Effective Date. This act shall take effect upon its passage.

Approved: June 6, 2008

Effective Date: June 6, 2008