Section Ins 3301.03 - Definitions(a) "Adverse action" means: (1) A denial of, refusal to renew, or cancellation of any private passenger automobile or homeowners insurance policy;(2) Charging an initial rate that is higher than the rate the consumer would have received if the company had not taken credit information into account; or(3) An increase in any premium charge for, or a reduction of, or other adverse or unfavorable change in the terms of coverage or amount of, any private passenger or homeowners insurance.(b) "Affiliated insurer" means an insurer that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another insurer.(c) "Applicant" means an individual who seeks to obtain a private passenger automobile or homeowners insurance policy with an insurer.(d) "Consumer" means an individual who in this state seeks to obtain, obtains, or has obtained private passenger automobile or homeowners insurance.(e) "Consumer report' means a credit report or any other communication of any information by a consumer reporting agency that:(1) Bears on a consumer's creditworthiness, credit standing, or credit capacity; and(2) Is used or collected or expected to be used or expected to be collected as a factor in establishing the consumer's underwriting eligibility or rating for private passenger automobiles or homeowners insurance.(f) "Consumer reporting agency" means any person or entity that, for monetary fees, dues, or on a cooperative non-profit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information for the purpose of furnishing a consumer report to third parties.(g) "Control" means the direct or indirect possession of the power to direct, or cause the direction of, the management and business policies of an insurer, regardless of whether the power is exercised by: (1) Ownership of voting securities or of securities convertible into voting securities;(2) Contract, other than a commercial contract for goods or non-management services; or(h) "Credit information" means information related to a consumer's credit contained in a consumer report, credit report, or other document.(i) "Credit report" means a report issued by a consumer reporting agency bearing on the consumer's creditworthiness, credit standing, or credit capacity.(j) "Insurance score" means a score that is derived by utilizing data from an individual's consumer report in an algorithm, computer program, model, or other process that reduces the data to a numeric or alphabetical, or similar coding.(k) "Private passenger automobile insurance" means a policy of insurance sold to eligible risks as defined in Ins 1402.02(c) covering motor vehicles as defined in Ins 1402.02(h).(l) "Producer" means a person or business entity licensed under RSA 402-J.(m) "Rating" means the establishment of base rates, classification factors, modifications to rates or factors, or tier placement, and any other factors used to determine the premium or price charged to the consumer for the insurance coverage requested.(n) "Tier" means a rating or underwriting category within a single insurer or group of affiliated insurers into which consumers with similar risk characteristics are placed for purposes of determining a premium or rate.N.H. Admin. Code § Ins 3301.03
#7658, eff 9-1-02; ss by #8052, eff 7-1-04; ss by #9634, eff 7-1-10
Amended by Volume XXXVIII Number 32, Filed August 9, 2018, Proposed by #12599, Effective 8/3/2018, Expires 8/3/2028.