NH Resident and Non-Resident Changes
NH has listed updates to the following: Fees, General requirements for organization non-resident license, Discount Medical Plan Organizations requirements, and license renewal and causes for license revocation and surrender.
- The biennial renewal fees are nonrefundable for producers, adjusters, and consultants.
- With the exception of travel insurance, the designated compliance person(s) must be licensed to produce all of the lines of insurance that the organization is licensed to produce.
- A discount medical plan organization must pay a required fee.
- The application for a discount medical plan organization must include if a previous application for a certificate of registration has been lost or denied, the applicant has been under investigation in the last 5 years, and any information required by the Commissioner to determine that the applicant is in good standing, personally and financially.
- Each certificate of registration expires on June 1. **T**he discount medical plan organization must submit the renewal application and pay the renewal fee at least 60 days prior to registration expiration.
- A license can be revoked or suspended if the organization does not sustain the minimum net worth and is hazardous to its members.
- A list of reasons has been added to which the Commissioner may deny, suspend, or revoke an adjuster license or may issue a fine under $2,500.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates.
Their findings are then recorded in the Regulatory Updates section of the Compliance
Library to explain how the update impacts the insurance industry. If a change
impacts an
AgentSync product, this will be highlighted to inform you that the product is being
updated to ensure you remain in compliance.