N.H. Code Admin. R. Ins 5001.04 - Rate Filing Procedures

(a) All rates and support required to be filed pursuant to RSA 412 shall be submitted through SERFF. Forms and rates shall be filed together or separately.
(b) All rate filings shall include the following:
(1) A notation in the SERFF general information tab if a filing includes a predictive model or is a new program;
(2) A filing description that is submitted under the SERFF general information tab or in explanatory material contained with the filing and which provides the following:
a. A detailed description of the program which addresses the intent of the program for which the filer seeks approval;
b. A description of each rate or rate change, including any new or unusual features or changes to prior methodology; and
c. A statement at the beginning of the program description, if the filing includes a new or amended predictive or telematics model or changes to how an existing model is used in the rating process;
(3) Proposed effective date(s) for new and renewal business; and
(4) An actuarial memorandum identifying all components of the actuarial review included in the filing, the methodology used to develop an actuarial indication, and the rationale used in selecting a rate change different from the actuarial indication.
(c) Where a filing is modifying an existing rate, a side-by-side comparison that clearly shows the changes, additions, or deletions to the rating manual shall be provided in the SERFF Rate/Rule schedule tab along with the final copy of the rating manual.
(d) With respect to any submission of a company domiciled in a state or country where the state insurance department or comparable agency requires foreign or alien insurers to pay any fees for the filing or examination of rates, the submission shall include an EFT payment of the retaliatory fee due to the state of New Hampshire, pursuant to RSA 400-A:35.
(e) If filed separately, forms, rate filings, and rate or form rules shall be cross referenced by SERFF tracking numbers in the SERFF general information tab.
(f) In the event that rates submitted to the department by an insurer are not approved and such rates are thereafter corrected and resubmitted, the previous submission's SERFF tracking number shall be provided in the SERFF general information tab.
(g) If an insurer delegates its filing authority to a third-party filer, excluding advisory organizations, each filing shall include a signed and dated letter from an authorized representative of the insurer authorizing the third-party filer to make filings on behalf of the insurer. The letter shall be dated within 30 days of the filing, and:
(1) The insurer shall not delegate responsibility for the content of a filing to a third-party filer. Errors and omissions made by a third-party filer shall be errors and omissions by the insurer; and
(2) If a third-party filer has a pattern of making 3 or more filings that do not comply with New Hampshire insurance laws, the commissioner shall deny or approve a delegation of filing authority, pursuant to RSA 412:19.
(h) Consent to rate filings shall be submitted via SERFF as a confidential filing type. The filing shall include the department's "Consent to Rate Form" as illustrated in Appendix B and which can be accessed on the department's website in the property and casualty section, under industry filing guidelines at https://www.nh.gov/insurance/pc/consent.htm. The consent to rate filing form shall be fully completed and signed by the policyholder.

Notes

N.H. Code Admin. R. Ins 5001.04
Derived From Volume XXXIX Number 19, Filed May 9, 2019, Proposed by #12770, Effective 5/5/2019, Expires 5/5/2029.

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