The New Hampshire Insurance Department has revised a regulation, effective immediately, that clarifies rules and procedural requirements for insurer rate filings that adopt and incorporate approved prospective loss costs.
Among other things, the revisions reorder some language in the previous version of the regulation, and explicitly states that a loss costs modification must be expressed as a multiplicative factor, whether an expense constant is used or not.
In addition, the amended regulation includes revisions to filing form RFF-1, which the department will have to update on SERFF, since SERFF is required for rate filings in New Hampshire.
AAIS Advisory notices are posted periodically to announce AAIS product developments, and to provide news items that are relevant to our program users. Advisory notices are news summaries that paraphrase documents which should be consulted directly for complete, authoritative information.