NHADA-Pub3-2021-Issue4-FLIPBOOK

I do sell credit life and disability (accident and health) insurance, What steps to I have to take to get properly licensed? If you are selling a credit insurance product (credit life and disability (accident and health) insurance) regulated under NH RSA 402-J:6 (II), you need: To Obtain two licenses: 1. ensure that your dealership’s producers license is up to date (expires May 31st every other year from date of issuance). 2. ensure that you have a designated responsible licensed producer (DRLP) licensed for credit authority on staff and recorded with the NH Insurance Department Make sure your DRLP is properly licensed including: Resident Individuals must satisfactorily pass a formal written examination for a producer license for credit authority. This examination is administered by the NHID’s business partner, Prometric. Approved Pre-Licensing Courses The NH Insurance Department does not provide study materials, cannot recommend any supplier of study materials and does not evaluate the quality of any training course or study material. The following businesses have advised us they may have training or study materials that you can purchase. The taking of a course alone does not guarantee that an individual will pass a licensing exam, it merely is another tool available for an individual to use to prepare for the test itself. Examination Information, Including Examination Registration (Prometric) In addition, you will have to comply with RSA 420-P the Insurance Department Data Security Law What if I need to make an amendment or change to my DRLP? Individual Amendments & Business Entity Amendments Adding, Changing, Deleting DRLP’s or LOA’s; Mail a written request signed by the new DRLP, include $50 fee or complete the change form . Make checks payable to the NH Insurance Dept. This cannot be processed online. NHADA can provide further information and is available to discuss this issue and compliance at your business by calling (603) 224-2369 or emailing Dan Bennett at dbennett@nhada.com . ALL DEALERSHIPS NEED TO TAKE THIS WARNING SHOT SERIOUSLY AND GET INTO COMPLIANCE IMMEDIATELY IF THEY ARE INDEED SELLING SUCH PRODUCTS. ON THE FLIP SIDE, IF YOUR DEALERSHIP IS NOT SELLING THESE PRODUCTS OR ANY OTHER KIND OF INSURANCE PRODUCT, YOU CAN CANCEL ANY INSURANCE LICENSES YOU DO HAVE. PLEASE CAREFULLY READ THE FOLLOWING FAQS TO SEE WHAT YOU NEED TO DO. Apply for your license here: https://nipr.com/licensing-center/apply Use the attached form or link here to notify the NHID that you are the DRLP assigned to your business here: https://www.nh.gov/insurance/ producers/documents/designated- producer-addition-for-creditauthority- form.pdf N E W H A M P S H I R E 23