Appointment of Insurance Producers Selling Insurance Products

Christopher R. Nicolopoulos Commissioner TO: FROM: DATE: RE: THE STATE OF NEW HAMPSHIRE INSURANCE DEPARTMENT 21 SOUTH FRUIT STREET SmTE 14 CONCORD, NEW HAMPSHIRE 03301 Bulletin Docket No.: INS 21-051-AB All Insurers in New Hampshire Commissioner Christopher R. Nicolopoulos, Esq. C't.U August 6, 2021 Appointment of Insurance Producers Selling Insurance Products David J. Bettencourt Deputy Commissioner The New Hampshire Insurance Department (NHID) recently became aware of at least one insurer in New Hampshire that had failed to appoint the producers that were selling their products. N.H. RSA 402-J:14 (I) requires that all insurance producers acting as the agent of an insurer to be appointed by the insurer. Insurers offering products in New Hampshire should confirm that all producers acting as their agents are properly appointed. While New Hampshire statutes provide penalties up to $2,500 per violation for insurers and producers who sell insurance through a producer without an appointment, the NHID will not immediately assess penalties against licensees currently not in compliance. Rather, insurers and producers must be in compliance within 30 days of the publication of this bulletin. Insurers who are not currently in compliance should immediately appoint all producers acting as their agents. Failure to comply with this statutory requirement may result in administrative action going forward. To appoint a producer in New Hampshire, an insurer should utilize the NIPR gateway and pay the associated fee of $25.00 at https://nipr.com/products-andservices/nipr-gateway. TELEPHONE 603-271-2261 • FAX 603-271-1406 • TDD ACCESS RELAY NH 1-800-735-2964 WEBSITE: www.nh.gov/insurance