Section Ins 1406.07 - Board of Governors(a) The commissioner shall appoint a board of governors (board) composed of 12 representatives and nominated as follows: (1) The merger of the American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) resulted in the formation of the American Property Casualty Insurance Association (APCIA) which shall nominate 4 members;(2) Insurers which are not members of the organizations enumerated in (1) above shall nominate 2 members;(3) The 6 members nominated according to (1) and (2) above shall nominate 2 at-large members;(4) The commissioner shall select one consumer not a member of any of the organizations enumerated in subparagraphs (1) through (3) above;(5) The commissioner shall select one member who is an employee of the insurance department; and(6) The commissioner shall select 2 licensed New Hampshire insurance producers.(b) Not more than one member in a group of companies under common management or control shall be represented on the board at the same time.(c) The names of the nominees as selected in accordance with (a) above shall be placed in nomination before the commissioner prior to the completion of the terms of the appointees that the nominees are replacing.(d) Each board representative shall serve for a term of 2 years but may serve succeeding terms if subsequently designated to serve the additional term in the manner provided herein for the initial designation.(e) All board representatives shall serve until their successors are designated. Any vacancy on the board, by resignation of a representative or otherwise, shall be filled in the manner provided herein for initial designation, but the designee shall serve only for the unexpired portion of the term for which the representative is designated, unless such representative is subsequently appropriately designated to serve an additional term or terms.(f) Actions of the board shall be binding when voted by a majority of those eligible to vote who are present and voting, and no vote may be taken unless 7 representatives on the board who are eligible to vote on the matter are present. The consumer and insurance department representative on the board shall be eligible to vote on all matters not directly involving the facility's budget or personnel administration.(g) All board meetings shall be open to members, producers, the commissioner or a person designated by the commissioner, and to the public except upon majority vote of the board when permitted or required by law.(h) The board shall recommend to the commissioner:(1) A day-to-day plan of operation to carry out the intent and purpose of the facility;(2) Appointment or employment of such staff as is necessary to carry out the business of the facility;(3) Contracts as necessary to provide space, equipment, and services for the facility's purposes;(4) Appointment of standing or temporary committees from among members and producers;(5) Assessments as necessary for the operating expenses of the facility;(6) Apportionment of the underwriting results among the members and the need to levy assessments or make such distributions as are appropriate for such apportionment;(7) Distribution of an annual report and minutes of board meetings to members and to the commissioner;(8) Selection at the biennial meeting of a chair, who shall not serve for more than 2 consecutive terms;(9) Selection at the biennial meeting of a vice chair, who shall:a. In the absence of the chair, act as the chair; andb. Not serve for more than 2 consecutive terms; and(10) Any other action it deems necessary or appropriate for efficient and effective operation of the facility.(i) The board or its designees shall periodically review the market for automobile insurance throughout the state of New Hampshire to make certain that eligible risks can readily obtain such insurance. Such review shall include a review of any complaints received from the public and from duly licensed producers and addressed to the facility or to the commissioner.N.H. Admin. Code § Ins 1406.07
(See Revision Note #1 at chapter heading for Ins 1400)
Derived from Volume XLI Number 6, Filed February 11, 2021, Proposed by # 13162, Effective 1/25/2021, Expires 1/25/2031.Amended by Number 6, Filed February 9, 2023, Proposed by #13534, Effective 1/24/2023, Expires 1/24/2033.