The New Hampshire Insurance Department (NHID) published a news release highlighting their notable financial and regulatory achievements in 2024, including consumer recoveries, general fund contributions, and licensing growth.
NHID secured over $164 million for the General Fund in 2024–$138 million of which came from premium taxes and $26 million from fees and fines. Premium taxes largely came from admitted carriers, contributing over $129 million, with $8.6 million coming from non-admitted premium tax. For fees and fines, $19 million came from producer licensing, almost $5 million from adjuster licensing, and $2 million from other fees.
The Consumer Services Unit processed 1,153 consumer complaint investigations and addressed 3,906 assistance requests, leading to a recovery of over $6.4 million for New Hampshire consumers. P&C recoveries totaled $4.6 million, Life & Health $1.5 million, and almost $250,000 from external health review recoveries.
NHID’s Licensing Unit processed a large number of applications during the year, leading to a total of 245,656 active licenses in the state. 237,348 of these are individual and 8,308 are business entity licensees.
The news release 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.