N.H. Admin. Code § Ins 2301.07 - Written Agreement Necessary

(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.

Notes

N.H. Admin. Code § Ins 2301.07

#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

Amended by Volume XXXVII Number 28, Filed July 13, 2017, Proposed by #12228, Effective 7/10/2017, Expires 7/10/2027.