Section Ins 3304.01 - Ratemaking Use(a) The use of an insurance score or information from consumer reports in rating private passenger automobile or homeowners insurance shall: (1) Not result in rates that are excessive, inadequate, or unfairly discriminatory; and(2) Otherwise comply with this rule and RSA 412:15, III and RSA 417:4, VIII(g).(b) If an insurer uses an insurance score or information from consumer reports in rating private passenger automobile or homeowners insurance, the insurer shall update the insurance score or consumer report with current credit information at least once every 36 months from the last time the insurer obtained current credit information for the consumer, provided however, no insurer need obtain current credit related information for a consumer, if one of the following applies: (1) The consumer is in the most favorably-priced tier of the insurer, or if the policy is issued from an insurer within a group of affiliated insurers, then the most favorably-priced tier within that group of affiliated insurers. However, the insurer shall have the discretion to order such report, if consistent with its filed underwriting guidelines;(2) Information from a consumer report was not used for underwriting eligibility or rating such consumer when the policy was initially written. However, the insurer shall have the discretion to use information from a consumer report for underwriting eligibility or rating such consumer upon renewal, if consistent with its filed underwriting guidelines;(3) The insurer re-evaluates the consumer beginning no later than 36 months after inception and thereafter based upon other underwriting eligibility or rating factors, excluding credit information; or(4) The insurer is otherwise treating the consumer in accordance with written standards and procedures which have been filed and approved by the commissioner, including those which include a phase-out of the use of credit information after initial issuance of a policy.(c) An insured may request the policy to be re-rated using current insurance scoring or consumer report information if:(1) The insured has corrected information on their consumer report; or(2) The insurer uses insurance scores based on credit information or consumer reports to establish renewal premium, the request is made prior to the renewal offer, and only once every 12 months.N.H. Admin. Code § Ins 3304.01
#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.