New Hampshire Code of Administrative Rules
Lab - Commissioner, Department of Labor
Chapter Lab 400 - WORKERS' COMPENSATION SELF-INSURANCE
Part Lab 408 - REGULATION OF THIRD PARTY ADMINISTRATORS
Section Lab 408.04 - Surety Bond
Universal Citation: NH Admin Rules Lab 408.04
Current through Register No. 40, October 3, 2024
(a) All applicantsshall provide financial assurance as follows:
(1) The applicant shall
attempt in good faith to obtain a surety bond issued by an insurance company
licensed to do business in the State of New Hampshire in a minimum amount of
$100,000; and
(2) If the
applicantcannot obtain sucha bond, then another form of security, including,
but not limited to, cash or negotiable securities in an amount equal to
$100,000shall be set aside in an escrow account with a financial institution
licensed to do business in the state of New Hampshire.
(b) The surety bond or escrow accountshall be payable to the commissioner to ensure the financial protection of the TPA's customers, subject to the dollar limitation of the surety bondor escrow account.
#7142, eff 11-24-99, EXPIRED: 11-24-07
New. #9878-A eff 2-25-11
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