A reminder for those Massachusetts producers who write business in New Hampshire
The New Hampshire Insurance Department issued a Bulletin this month, reminding insurance producers that sell their products in New Hampshire that they must comply with state law. More specifically, Commissioner Chris Nicolopoulos’ bulletin reminds insurers that N.H. RSA 402-J:14 (I) requires that all insurance producers acting as the agent of an insurer must be appointed by said insurer.
“The New Hampshire Insurance Department recently became aware of at least one insurer in New Hampshire that had failed to appoint the producers that were selling their products,” said Commissioner Nicolopoulos.
“Insurers who are not 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.”
Under New Hampshire statutes, a violation of N.H. RSA 402-J:14 (I) provides for penalties up to $2,500 per violation for insurers and producers who sell insurance through a producer without an appointment.
The NH Insurance Department recommends that those companies looking to appoint a producer in New Hampshire, should utilize the National Insurance Producer Registry gateway and pay the associated fee of $25.00 at https://nipr.com/productsand-services/nipr-gateway.
