Section Ins 1002.02 - Definitions(a) "Claim file" means the complete and specific claim file record of events and dates maintained to show clearly the inception, handling, and disposition of each claim.(b) "Claimant" means any person who sustains bodily injury or property damage and who asserts a right to recover for damages against an insured. The term "claimant" includes the claimant's authorized representative acting on behalf of the claimant.(c) "Communications" means all correspondence and contact(s), regardless of source or type, that is materially related to the handling of the claim.(d) "Documentation" means all communications, transactions, notes, work papers, claim forms, bills, statement of loss and other similar materials relative to the claim.(e) "Fair market value" means the price at which an asset would change hands between a willing buyer and a willing seller when neither is under compulsion to act and both have knowledge of all facts relevant to the sale.(f) "Independent repair shop or facility" means any entity that: (1) Provides automobile repair services; and(2) Has no arrangement with respect to repair prices or services with the insurer making a payment for settlement of the damaged motor vehicle; but which might have arrangements with respect to repair prices or services with other insurers.(g) "Insured" means, for the purposes of this rule only, a person or persons who are included in the definition of an insured as set forth in the insurance policy. The term "insured" includes the insured's authorized representative acting on behalf of the insured.(h) "Investigation" means the initial contact or documented attempted contact with the insured or claimant and all activities of an insurer directly or indirectly related to the determination of liabilities under coverages afforded by an insurance policy.(i) "Local market area" means a maximum distance of 75 miles surrounding the area where the motor vehicle is principally garaged and not limited to the geographic boundaries of the state of New Hampshire.(j) "Motor vehicle" means motor vehicle as defined in RSA 259:60 I.(k) "Notice of a claim" means any notification, whether in writing or other means acceptable under the terms of an insurance policy, to an insurer or its appointed producer, by an insured or claimant, that apprises the insurer of the facts pertinent to a claim.(l) "Uninsured motor vehicle" means a motor vehicle that is:(1) Not insured under any insurance policy;(2) An insured motor vehicle for which the insurer is unable to make payment within the insured liability limits due to insolvency; or(3) An insured motor vehicle that at the time of the accident had limits of liability insurance that were lower than the minimum limits required for a motor vehicle liability policy pursuant to applicable law.N.H. Admin. Code § Ins 1002.02
Amended by Volume XXXV Number 45, Filed November 12, 2015, Proposed by #10962, Effective 10/26/2015, Expires 10/26/2025.