NAMIC to Participate in Oct. 1 New Hampshire Hearing on Credit Regulation

NAMIC will participate in a New Hampshire Department of Insurance hearing on proposed revisions to Ins 3300, the regulation governing insurers’ use of credit-based insurance scores.

Paul Tetrault, NAMIC state affairs manager for the Northeast, testified at a July hearing on a previous version of proposed changes to the regulation and submitted comments citing problems with various aspects of the proposal, including lack of clarity, compliance challenges, degree of difference from other state laws and regulations, and provisions that would require insurers to exceed their proper role.

The new version of the proposed changes reflect some of the suggestions made by industry representatives including NAMIC.

Where the July hearing was conducted in a formal format with witnesses offering testimony to a hearing officer, the department has indicated that the Oct. 1 session will be conducted as a work session allowing participants to offer constructive criticism and suggested language.

Direct comments and questions on the proposed changes to NAMIC State Affairs Manager Paul Tetrault.