There is a newer version
of
this Section
2021 New Hampshire Revised Statutes
Title XXXVII - Insurance
Title 420-M - Purchasing Alliances
Section 420-M:8 - Contracts With Participating Carriers.
Universal Citation:
NH Rev Stat § 420-M:8 (2021)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
420-M:8 Contracts With Participating Carriers.
The contracts entered into by the alliance shall:
I. Establish performance standards for specific contractual elements;
II. Set liquidated damages for breach of the contract;
III. Require the insurer to notify the member employers of cancellation of the policy;
IV. Require the member employers in the event of cancellation to arrange for continuation coverage for their employees to the extent provided under federal and state law; and
V. Contain a provision stating that if after timely receipt of the premium payment from the employer, the alliance fails to make the premium payment to the insurer, with the result that coverage is terminated, that the alliance shall be liable for benefits to the same extent as the insurer or carrier would have been liable if coverage had not been terminated.
The contracts entered into by the alliance shall:
I. Establish performance standards for specific contractual elements;
II. Set liquidated damages for breach of the contract;
III. Require the insurer to notify the member employers of cancellation of the policy;
IV. Require the member employers in the event of cancellation to arrange for continuation coverage for their employees to the extent provided under federal and state law; and
V. Contain a provision stating that if after timely receipt of the premium payment from the employer, the alliance fails to make the premium payment to the insurer, with the result that coverage is terminated, that the alliance shall be liable for benefits to the same extent as the insurer or carrier would have been liable if coverage had not been terminated.
Source. 2010, 346:1, eff. July 20, 2010.
Disclaimer: These codes may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.