New Hampshire Code of Administrative Rules
Ins - Commissioner, Insurance Department
Chapter Ins 2300 - THIRD PARTY ADMINISTRATORS
Part Ins 2301 - REGULATION OF THIRD PARTY ADMINISTRATORS
Section Ins 2301.07 - Written Agreement Necessary
Universal Citation: NH Admin Rules Ins 2301.07
Current through Register No. 12, March 21, 2024
(a) An administrator shall not act on behalf of an insurer without a written agreement with an insurer or other person for whom the services are performed.
(b) Pursuant to RSA 402-H:2, the agreement shall be retained by the administrator and the insurer for the period of the contract and for 5 years beyond the contract's termination.
(c) The agreement shall contain:
(1) The names and addresses of the parties to
the contract;
(2) An enumeration of
the responsibilities and contractual obligations of the parties to the
agreement;
(3) Provisions for
contract termination by either of the parties to the agreement and provisions
for the fulfillment of any lawful obligations with respect to policies affected
by the written agreement;
(4) The
lines, classes, or types of insurance to be administered;
(5) The underwriting or other standards to be
used and administered;
(6) The
financial arrangement for the transfer of funds between the insurer and the
administrator in the conduct of business as stipulated in the contract;
and
(7) Other special provisions
deemed necessary by the parties to the contract.
#5787, eff 2-14-94; ss by #7023, eff 7-1-99; ss by #7318, eff 8-1-00, EXPIRED: 8-1-08
New. #9510, eff 7-10-09
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