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 2301.14 - Periodic Audit
Current through Register No. 12, March 21, 2024
(a) The commissioner shall examine an administrator pursuant to RSA 402-H:4, II on a regularly scheduled basis or pursuant to RSA 402-H:13 when an evaluation of any submission to the department by the administrator, insurer, policyholder or publication indicates potential financial or operational irregularities contrary to statute or rule. The cost of the audit shall be paid by the administrator pursuant to RSA 402-H:13. Audits shall include, but not be limited to financial condition, premium collection, claims processing and marketing practices.
(b) Any one or more of the following factors present shall require an additional amount of security:
(c) The administrator shall have continuing access to all books and records in order to fulfill its contractual obligations.
(d) All books and records maintained by the administrator as part of that contractual obligation shall:
(e) Upon termination of an agreement between the administrator and person contracting for the services pursuant to the termination provisions in the agreement, the records may be transferred to a new administrator in lieu of the required 5 year retention. If such a transfer occurs, the new administrator shall acknowledge in writing that he/she has received the records and shall be responsible for them.
#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