New Hampshire Code of Administrative Rules
Ins - Commissioner, Insurance Department
Chapter Ins 1400 - AUTOMOBILE INSURANCE
Part Ins 1403 - THE WRITING OF AUTOMOBILE INSURANCE IN THE VOLUNTARY MARKET
Section Ins 1403.02 - Definitions Applicable to the Voluntary Market
Current through Register No. 12, March 21, 2024
(a) "Automobile insurance" means primary insurance, including non-owned vehicle only policies, against bodily injury or property damage, including legal liability, arising out of the ownership, operation, maintenance, or use of motor vehicle(s). The term includes medical payments insurance, physical damage insurance, uninsured motorists insurance, and other related insurance coverage arising out of the ownership, operation, maintenance, or use of motor vehicle(s), but does not include umbrella or excess coverage.
(b) "Commissioner" means the commissioner of insurance.
(c) "Eligible risk" means a person who has signed a residency statement pursuant to RSA 417-A:3-b and Ins 1407.01.
(d) "Experience period" means the time period of 3 years immediately preceding the effective date of the policy.
(e) "Exposure" means the rating units on which insurance premium is based. For automobile insurance, exposure unit means one car insured for one 12-month period.
(f) "Insurer" means a licensed company, or group of affiliated companies, that are authorized to transact automobile insurance in the state of New Hampshire and, if a group of companies, are affiliated by ownership or contractual relationship encompassing joint operations or processes filed and approved by the commissioner.
(g) "Licensed driver" means any person with an authorized driver's license or any other license or permit to drive a vehicle issued under the laws of this state, including any temporary or learner's permit.
(h) "Motor vehicle" means any of the following vehicles, whether owned, leased for a contract period of at least 6 months, or not owned by the insured, so long as the vehicle is not one that is used as a public livery conveyance for passengers, rented to the insured with a driver, furnished to an insured for regular use, or used without express or implied consent of the owner:
(i) "Person" means any natural person, spouse, family member, or any individual with express or implied consent to use a motor vehicle.
(j) "Policy of automobile insurance" means a policy issued with respect to any motor vehicle registered or principally garaged in this state, insuring a person as named insured, or one or more related individuals resident of the same household, and under which the insured vehicles therein designated includes a private passenger automobile.
(k) "Policy period" means:
(l) "Private passenger automobile" means any motor vehicle as defined in (h) above.
(m) "Prospective loss cost" means the expected average loss per unit of exposure.
(n) "Rate" means that cost of insurance per exposure unit whether expressed as a single number or as a prospective loss cost with an adjustment to account for the treatment of expenses, profit, and individual insurer variation in loss experience, prior to any application of individual risk variations based on loss or expense considerations. The term does not include minimum premiums.
(o) "Rating plan" means a system by which insurers establish a premium or rate to be charged for insurance coverage.
(p) "Renewal" means the issuance and delivery by an insurer of a policy superseding at the end of the policy period a policy previously issued and delivered by the same insurer and having the types and limits of coverage at least equal to those contained in the policy being superseded.
(q) "Replacement policy" means a policy that a company issues to replace a voluntary policy for the purpose of ceding the insured to the facility or moving the insured to a higher rated company or tier.
(r) "Resident" means:
(s) "Supplementary rate information" means any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, and any other similar information needed to determine an applicable rate in effect or to be in effect.
(t) "Supporting information" means:
(u) "Tier" means a level or division of a company's or group's rating system that will yield a separate and distinct rate for automobile insurance.
(v) "Underwriting guidelines" mean:
#7185, eff 12-28-99; ss by #7538, eff 8-1-01; ss by #8032, eff 7-1-04; amd by #8074, eff 7-1-04; ss by #10153, eff 7-1-12