New Hampshire P&C Insurance Law & Regulation
The state portion of the New Hampshire property and casualty exam begins with who regulates insurance in New Hampshire and the consumer-protection rules that overlay the national coverage forms. This chapter covers the New Hampshire Insurance Department and its authority, unfair trade practices, and the cancellation and nonrenewal protections that apply to policies delivered in the state.
The New Hampshire Insurance Department
New Hampshire regulates insurance through the New Hampshire Insurance Department, led by a Commissioner. The department issues, denies, suspends, and revokes producer licenses, reviews policy forms and rates, investigates complaints, and enforces the state's insurance laws. A common exam point is that the Insurance Department — not the Division of Motor Vehicles or the Banking Department — licenses property and casualty producers and regulates the insurers doing business in the state. Confirm current details directly with the New Hampshire Insurance Department.
Unfair Trade Practices and Producer Conduct
New Hampshire's unfair insurance trade practices law prohibits misrepresentation of policy terms, false or misleading advertising, unfair discrimination between similar risks, defamation of an insurer, coercion, and unfair claim settlement practices. Rebating — giving any part of the premium or commission or other valuable consideration as an inducement to buy — is prohibited. Premiums a producer collects are held in a fiduciary capacity and must not be commingled or converted. Violations can bring fines and license suspension or revocation by the Insurance Department.
Cancellation and Nonrenewal Protections
New Hampshire law limits how and when an insurer may cancel or nonrenew personal auto and homeowners policies and requires advance written notice so the insured can find replacement coverage. After a policy has been in force beyond an initial period, cancellation is generally allowed only for specific reasons such as nonpayment of premium, fraud, or a substantial increase in risk. The exact notice periods are set by statute and can change; confirm current day counts with the New Hampshire Insurance Department before relying on a specific number.