Section Ins 1201.14 - Supervision of Credit Insurance Operations(a) Each insurer transacting credit insurance in this state shall conduct a thorough inspection of each creditor with respect to the first year of credit insurance business with such creditor and as often thereafter as is necessary to assure compliance with the insurance laws of this state and rules promulgated by the commissioner.(b) The inspection required in paragraph (a) shall include but not be limited to: (1) A determination that proper rate charts and refund charts are being used by the creditor;(2) A determination that: a. Insurance charges to debtors are computed on the same or lesser basis as premiums paid to the insurer by the creditor; andb. Claims paid to the creditor are on the same basis as premiums paid to the insurer;(3) A determination that upon termination of the insurance other than by death of the insured, the proper refunds of unearned insurance premiums are being made;(4) A determination that all claims are being filed and properly handled;(5) A determination that upon death of the insured, the appropriate refunds required under Ins 1201.04(i) are made;(6) A determination that the creditor, upon request of the debtor for a quotation of the net amount necessary to prepay the debt, includes in the quotation the amount of the applicable unearned insurance premiums which could be required to be refunded; and(7) A determination that the creditor has established a procedure for handling complaints from debtors concerning credit insurance coverage and a procedure for maintaining records of the complaints received and their disposition.N.H. Admin. Code § Ins 1201.14
#1900, eff 1-1-82; ss by #2441, eff 1-1-84; ss by #4287, eff 7-1-87; amd by #4369, eff 3-1-88; ss by #5650, eff 7-1-93, EXPIRED 7-1-99
New. #7146, eff 4-1-00, EXPIRED: 4-1-08
New. #9611, eff 1-4-10
Amended by Volume XXXVIII Number 06, Filed February 8, 2018, Proposed by #12474, Effective 2/2/2018, Expires 2/2/2028.