New Hampshire Insurance Department – Concord, NH

New Hampshire Insurance Department

Protecting Consumers and Regulating the Market

The New Hampshire Insurance Department (NHID), established in 1851, holds the distinction of being the first insurance regulatory agency created in the United States. Headquartered in Concord, the department is dedicated to promoting and protecting the public good by ensuring a safe, competitive, and fair insurance marketplace. It operates under the provisions of Title XXXVII of the New Hampshire Revised Statutes Annotated (RSA 400-A). The department serves as the primary resource for Granite State residents regarding all types of insurance, including auto, home, health, life, and workers’ compensation.

• Consumer Services: The Consumer Services Division assists individuals with insurance-related questions, coverage disputes, and formal complaints against insurance companies. They recovered millions of dollars for consumers in recent years.
• Licensing and Compliance: Regulates over 1,200 insurance companies and more than 120,000 producers (agents) and adjusters to ensure they meet state financial and professional standards.
• Fraud Investigation: The Insurance Fraud Unit investigates potential criminal acts involving insurance claims and works with law enforcement to prosecute offenders.
• Market Regulation: Monitors the behavior of insurance entities to ensure fair treatment of policyholders and compliance with state laws.

Key Functions and Operations

The NHID is responsible for the collection of premium taxes and fees, which are significant contributors to the state’s General Fund. The department reviews insurance rates and forms to ensure they are reasonable and not unfairly discriminatory. While the department does not set auto insurance rates, it reviews filings to verify they are actuarially justified. The department also plays a crucial role in the implementation of the Affordable Care Act (ACA) within the state, overseeing the health insurance marketplace and ensuring plan compliance.

Visitors to the Concord office can access resources for filing complaints, verifying agent licenses, and understanding their rights as policyholders. The department emphasizes transparency and responsiveness, providing educational materials to help consumers make informed financial decisions.