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2020 New Hampshire Revised Statutes
Title XXXVII - Insurance
Title 412 - Regulation of Forms and Rates for Property and Casualty Insurance
Section 412:38 - Examinations.
Universal Citation: NH Rev Stat § 412:38 (2020)
412:38 Examinations. –
I. The commissioner may, as often as he or she deems it expedient, make or cause to be made an examination of each advisory organization or statistical agent referred to in RSA 412:20 and of each group, association or other organization referred to in RSA 412:26, provided that each statistical agent and advisory organization licensed in this state shall be examined at least once every 5 years. The reasonable costs of any such examination shall be paid by the advisory organization, statistical agent or group, association or other organization examined. The officers, manager, agents and employees of such advisory organization, statistical agent, or group, association or other organization may be examined at any time under oath and shall exhibit all books, records, account, documents or agreements governing its method of operation. In lieu of any such examination, the commissioner may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of that state.
II. As often as the commissioner deems necessary, the commissioner or a delegate may examine all policies, daily reports, binders, renewal certificates, endorsements, and other evidences of insurance or of the cancellation thereof, for the purpose of ascertaining that lawful rates are being charged. In connection therewith the commissioner may require the company or any officer or agent to produce all books and papers relating to the formulation or change of such rates in the possession of the company or agent and shall have power to examine under oath any officer or agent of said company on matters pertinent to the formulation or changing of such rates. The expense of an examination undertaken pursuant to authority hereby conferred shall be borne by the company examined.
I. The commissioner may, as often as he or she deems it expedient, make or cause to be made an examination of each advisory organization or statistical agent referred to in RSA 412:20 and of each group, association or other organization referred to in RSA 412:26, provided that each statistical agent and advisory organization licensed in this state shall be examined at least once every 5 years. The reasonable costs of any such examination shall be paid by the advisory organization, statistical agent or group, association or other organization examined. The officers, manager, agents and employees of such advisory organization, statistical agent, or group, association or other organization may be examined at any time under oath and shall exhibit all books, records, account, documents or agreements governing its method of operation. In lieu of any such examination, the commissioner may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of that state.
II. As often as the commissioner deems necessary, the commissioner or a delegate may examine all policies, daily reports, binders, renewal certificates, endorsements, and other evidences of insurance or of the cancellation thereof, for the purpose of ascertaining that lawful rates are being charged. In connection therewith the commissioner may require the company or any officer or agent to produce all books and papers relating to the formulation or change of such rates in the possession of the company or agent and shall have power to examine under oath any officer or agent of said company on matters pertinent to the formulation or changing of such rates. The expense of an examination undertaken pursuant to authority hereby conferred shall be borne by the company examined.
Source. 2003, 150:1, eff. Jan. 1, 2004.
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