New Hampshire Code of Administrative Rules
Ins - Commissioner, Insurance Department
Chapter Ins 4500 - ANNUAL FINANCIAL REPORTING
Part Ins 4501 - Annual Financial Reporting
Section Ins 4501.17 - Exemptions and Effective Dates

(a) Upon written application of any insurer, the commissioner may grant an exemption from compliance with any and all provisions of this rule if the commissioner finds, upon review of the application, that compliance with this rule would constitute a financial or organizational hardship upon the insurer. An exemption may be granted at any time and from time to time for a specified period or periods. Within 10 days from a denial of an insurer's written request for an exemption from this rule, the insurer may request in writing a hearing on its application for an exemption. The hearing shall be held in accordance with the rules of the New Hampshire Insurance Department pertaining to administrative hearing procedures.

(b) Domestic insurers retaining a certified public accountant on the effective date of this rule who qualify as independent shall comply with this rule for the year ending December 31, 2010 and each year thereafter unless the commissioner permits otherwise.

(c) Domestic insurers not retaining a certified public accountant on the effective date of this rule who qualifies as independent may meet the following schedule for compliance unless the commissioner permits otherwise.

(d) Foreign insurers shall comply with this rule for the year ending December 31, 2010 and each year thereafter, unless the commissioner permits otherwise.

(e) The requirements of Ins 4501.06(d) shall be in effect for audits of the year beginning January 1, 2010 and thereafter.

(f) The requirements of Ins 4501.13 are to be in effect January 1, 2010. An insurer or group of insurers that is not required to have independent audit committee members or only a majority of independent audit committee members, as opposed to a supermajority, because the total written and assumed premium is below the threshold and subsequently becomes subject to one of the independence requirements due to changes in premium shall have one year following the year the threshold is exceeded, but not earlier than January 1, 2010, to comply with the independence requirements as a result of a business combination shall have one calendar year following the date of acquisition or combination to comply with the independence requirements.

(g) The requirements of Ins 4501.16 and other modified sections, except for Ins 4501.13 covered above, are effective beginning with the reporting period ending December 31, 2010 and each year thereafter. An insurer or group of insurers that are not required to file a report because the total written premium is below the threshold and subsequently becomes subject to the reporting requirements shall have 2 years following the year the threshold is exceeded, but not earlier than December 31, 2010, to file a report. Likewise, an insurer acquired in a business combination shall have 2 calendar years following the date of acquisition or combination to comply with the reporting requirements.