N.H. Code Admin. R. Ins 1405.01 - Record Retention Procedures
(a)
Insurers shall establish a system or procedure that shows the re-tiering of an
automobile policy between rating tiers. A cancellation or nonrenewal with
concurrent writing of another policy shall be deemed re-tiering for purposes of
this rule. Each insurer shall track the re-tiering of an automobile policy for
a minimum of the current policy year plus 5 years from the effective date of
the current in force policy.
(b)
Insurers shall maintain for a period of the current policy year plus 5 years a
record retrieval system of all company refusals to write insurance coverage and
all company-initiated cancellations and non-renewals of insurance policies and
the factual reasons for the refusal to write, cancellation, or
non-renewal.
(c) Companies writing
insurance in this state shall maintain all underwriting and rating
documentation from which any premium charge is developed. Such documentation
shall in all cases include the underlying factual basis which supports the
premium charge developed, not merely the underwriting or rating conclusion
drawn from such facts, and be retained in a manner so that the commissioner can
readily ascertain during an examination the insurer's compliance with its filed
and approved rates, rating plans, underwriting models, and state insurance laws
and rules. These records shall be retained for the current year plus 5
years.
Notes
#7185, eff 12-28-99; amd by #7538, eff 8-1-01; ss by #8032, eff 7-1-04; ss by #10153, eff 7-1-12
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