New Hampshire Revised Statutes 402-F:5 – Duties of Insurers Utilizing the Services of a Reinsurance Intermediary-Broker
Current as of: 2023 | Check for updates
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I. An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf, unless the person is licensed as required by N.H. Rev. Stat. § 402-F:2, I.
II. An insurer may not employ an individual who is employed by an RB with which it transacts business, unless the RB is under common control with the insurer and subject to RSA 401-B.
III. The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.
II. An insurer may not employ an individual who is employed by an RB with which it transacts business, unless the RB is under common control with the insurer and subject to RSA 401-B.
Terms Used In New Hampshire Revised Statutes 402-F:5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
III. The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.