CHAPTER 113

HB 1450 - FINAL VERSION

2016 SESSION

16-2442

01/03

HOUSE BILL 1450

AN ACT relative to risk-based capital for insurers.

SPONSORS: Rep. Hunt, Ches. 11; Rep. Butler, Carr. 7; Rep. Flanders, Belk. 3; Sen. Bradley, Dist 3

COMMITTEE: Commerce and Consumer Affairs

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ANALYSIS

This bill adjusts the risk-based capital trend test for insurers.

This bill is a request of the insurance department.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

16-2442

01/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Sixteen

AN ACT relative to risk-based capital for insurers.

Be it Enacted by the Senate and House of Representatives in General Court convened:

113:1  Risk-Based Capital for Insurers; Company Action Level Event.  Amend RSA 404-F:3, I(a)(2) to read as follows:

(2)  If a life and/or health insurer, the insurer has total adjusted capital which is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and [2.5] 3.0 and has a negative trend; or

113:2  Effective Date.  This act shall take effect 60 days after its passage.

Approved: May 20, 2016

Effective Date: July 19, 2016