TITLE XXXVII
INSURANCE

CHAPTER 400-A
INSURANCE DEPARTMENT

Section 400-A:36

    400-A:36 Annual Financial Statement. –
I. Every insurance company doing business in this state shall, on or before March 1 each year, make and file or transmit to the commissioner a statement under oath of its president and secretary, in accordance with the National Association of Insurance Commissioners Annual Statement Blank following the National Association of Insurance Commissioners Annual Statement Instructions and those accounting procedures and practices prescribed by the National Association of Insurance Commissioners Accounting Practices and Procedure Manual or allowed as a permitted accounting practice as provided in the manual, showing the amount of its capital stock, assets, liabilities, outstanding risks, premium notes, receipts, expenditures, losses, assessments, salaries and emoluments, and any other information calculated to fully disclose the condition and method of management of the company for the year ending the preceding December 31, which statement shall include the whole amount of premiums written during the preceding year for insurance on property, or risks located or persons resident in this state.

[Paragraph II effective until January 1, 2027; see also paragraph II set out below.]


II. The commissioner may extend the time for filing or transmitting such statement for cause shown for a period of not more than 60 days. Life insurance companies shall not be required to file or transmit that part of their annual statement known as the gain and loss exhibit until the succeeding May 1. An insurer intentionally failing to file or transmit its annual statement as required by paragraph I shall forfeit to the department $25 for each day of delinquency. The commissioner may refuse to continue, or may suspend or revoke, the certificate of authority of any insurer intentionally failing to file or transmit its annual statement when due. The insurer shall pay the fee for filing or transmitting its annual statement as prescribed by RSA 400-A:29 at the time of filing or transmitting or with the premium tax return, but no later than March 15th.

[Paragraph II effective January 1, 2027; see also paragraph II set out above.]


II. The commissioner may extend the time for filing or transmitting such statement for cause shown for a period of not more than 60 days. Life insurance companies shall not be required to file or transmit that part of their annual statement known as the gain and loss exhibit until the succeeding May 1. The commissioner may impose an administrative fine in an amount not to exceed $5,000, or refuse to continue, or may suspend or revoke, the certificate of authority of any insurer intentionally failing to file or transmit its annual statement when due. The insurer shall pay the fee for filing or transmitting its annual statement as prescribed by RSA 400-A:29 at the time of filing or transmitting or with the premium tax return, but no later than March 15th.
III. In addition to the above, the commissioner may require from any person or company subject to this title:
(a) Statements, reports, including reports audited by independent public accountants, answers to questionnaires and other information, and evidence thereof, in whatever reasonable form he designates, and at such reasonable intervals as he may choose, or from time to time;
(b) Full explanation of the programming of any data storage or communications systems in use; and
(c) That information from any books, records, electronic data processing systems, computers or any other information storage system be made available to him at any reasonable time and in any reasonable manner.
IV. The commissioner may prescribe forms for the reports under RSA 400-A:36, III. The forms shall be consistent, as far as practicable, with those prescribed by other states.
V. Any officer, manager or general agent of any insurer authorized to do or doing an insurance business in this state, and any person controlling or having a contract under which he has a right to control such an insurer, whether exclusively or otherwise, and any person with executive authority over or in charge of any segment of such an insurer's affairs, and any insurance agent or other person licensed under the insurance code shall reply promptly in writing or in other designated form, to any written inquiry from the commissioner requesting a reply.
VI. The commissioner may require that any communication made to him under this section be verified.
VII.
Immunity. In the absence of actual malice, no communication required by the commissioner under this section shall subject the person making it to an action for damages for defamation.
VIII. The information obtained pursuant to RSA 400-A:36, III shall be privileged.
IX. Any director, officer, agent or employee of any insurer who subscribes to, makes or concurs in making or publishing, any annual or other statement required by law, having actual knowledge that the same contains any material statement which is false shall be guilty of a misdemeanor if a natural person, or guilty of a felony if any other person.
X. The commissioner may retain, without appropriation under RSA 9 and without qualifying as a department expenditure under RSA 4:15, attorneys, independent actuaries, independent certified public accountants, or other professionals or specialists to review financial statements, the cost of which shall be borne by the company which is the subject of the financial analysis. The company shall pay the retained professional or specialists directly for their costs. The commissioner shall conduct oversight of such independent reviewers in a manner that is consistent with standards for the use of independent reviewers established by the National Association of Insurance Commissioners in its Financial Condition Examiners Handbook and Market Regulation Handbook and shall ensure that costs are reasonable for the work performed. The amount paid by the company under this paragraph in the preceding calendar year shall be applied as a nontransferable credit against and to the extent of the company's administrative assessment under RSA 400-A:39 in the subsequent fiscal year and not thereafter.

Source. 1971, 244:1. 1973, 528:273. 1975, 414:1. 1990, 92:1. 1992, 288:2, 3. 2003, 144:2. 2006, 196:2. 2017, 218:4, eff. July 10, 2017. 2019, 183:1, eff. Sept. 8, 2019. 2022, 143:2, eff. Aug. 6, 2022. 2025, 191:7, eff. Sept. 13, 2025. 2026, 218:2, eff. Jan. 1, 2027.