Section 281-A:5-d Regulation of Certain Third Party Administrators Serving Self-Insured Programs.
I. For purposes of this section, ""third party administrator'' means any person contracting with an employer or group of employers authorized to self-insure in accordance with RSA 281-A:5-a and 281-A:11, to provide a combination of such services as solicitation of coverage, underwriting, collection of charges or premiums, and adjustment or settlement of claims, so as to confer upon such person effective responsibility for management and operation of the self-insurance program.
II. The commissioner shall have exclusive jurisdiction to regulate third party administrators, as defined in this section, to assure that such persons possess capability and financial qualifications sufficient to manage performance of the responsibilities imposed by this chapter upon self-insured employers or groups.
III. Any client company which knowingly does business with an unlicensed third party administrator may, after written notification, be fined up to $1,000 per day for each day the violation continues. Any funds collected under this section shall be deposited in the general fund as unrestricted revenue.
Source. 1995, 161:1, eff. Oct. 1, 1995. 1996, 231:3, eff. Aug. 9, 1996. 1997, 343:1, eff. Jan. 1, 1998.