NH | The New Hampshire Insurance Department (NHID) released information on enforcement actions that can be taken by the Department when false or incomplete information is presented in the license application or renewal process.
New Hampshire RSA 402-J:6, I requires that applicants for a producer license provide true and complete answers to all questions on the application. RSA 402-J:12 allows the NHID to assess penalties when a producer provides incorrect, misleading, incomplete or materially untrue information in the license application. These penalties can include license revocations, suspensions or denial. Additional penalties could include monetary fines, with infractions resulting in an average fine of approximately $2,500.
“When applying for or renewing a license, it is imperative that licensees answer the questions posed to them honestly,” said Joshua Hilliard, Compliance and Enforcement Council of the NHID. “Every year, the Department licenses persons who have prior convictions or have been subject to administrative action. However, failing to report prior convictions or administrative actions often results in the Department assessing penalties against the licensee, including monetary penalties and license suspension or revocation.” “Insurance license applicants must answer the application questions completely and truthfully,” said DJ Bettencourt, Deputy Commissioner of the NHID. “Misrepresenting a business address or failing to disclose previous criminal convictions or administrative actions – or pending criminal charges, for renewal applicants – will result in fines, license suspension or revocation.”