The New Hampshire Insurance Department (NHID) published a letter to the New Hampshire Association of Domestic Insurance Companies and the New Hampshire Association of Insurance Agents stating that insurers are prohibited from canceling or refusing to issue a homeowners policy solely due to the geographic location of the risk.
N.H. Rev. Stat. § 417-B:2 states that insurers cannot cancel or refuse to write a policy solely because of residence, among other factors such as age, race, national origin, ancestry, marital status, and military service. However, this does not mean that insurers cannot use location-based risk factors, such as proximity to a fire station, in determining premiums.
NHID has heard reports from producers claiming that some carriers are not complying with this law. NHID intends to monitor the market closely throughout the year, and anyone found in violation will be subject to regulatory action.
The letter can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.