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For Immediate Release
Date: July 01, 2024

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New Hampshire Insurance Department Outlines Key Federal Measures to Enhance Market Competitiveness and Consumer Protection in Meetings with Congressional Delegation

CONCORD, NH (July 1, 2024) – The New Hampshire Insurance Department (NHID) has issued a comprehensive letter to the state's Congressional delegation, summarizing discussions about critical issues affecting New Hampshire consumers. The discussions took place during the National Association of Insurance Commissioners (NAIC) annual DC "Fly-In" event on May 21-23, 2024.

Commissioner Bettencourt, along with Deputy Commissioner Nyhan, highlighted the need for federal measures to enhance market competitiveness, support consumers, and promote free enterprise. The letter summarized several key points from their meeting:

  1. Property and Casualty Markets & Resiliency Projects: Addressing challenges such as weather-related events, inflation, supply chain disruptions, and litigation costs, the NHID is developing a grant program to assist homeowners in fortifying their homes against various risks. This initiative aims to reduce insurance premiums and enhance market conditions. Additionally, the department supports the Bipartisan Bicameral Disaster Mitigation and Tax Parity Act, which seeks to exclude qualified catastrophe mitigation payments from income tax.
  2. Improper Marketing of Medicare Advantage (MA) Plans: The NHID urges reconsideration of the provision within the Medicare Modernization Act of 2003 that limits state oversight on MA marketing to safeguard consumers from deceptive practices. Commissioner Bettencourt calls for collaboration between federal and state authorities to strengthen enforcement of consumer protection laws.
  3. Mental Health Parity and Addiction Equity Act (MHPAEA) Grants: Emphasizing the importance of ensuring compliance with MHPAEA, the NHID advocates for full funding of grants to enforce mental health parity laws. The department requests that the $10 million per year authorized by Congress for five years be fully appropriated for FY 2025.
  4. Support for Reauthorization of the National Flood Insurance Program (NFIP): Long-term funding for NFIP is crucial for flood mitigation and insurance market growth. The NHID supports reauthorization that encourages flood mitigation, facilitates private flood insurance market growth, and assists states in improving overall flood preparedness.
  5. Restraint of Federal Regulation in the Use of Artificial Intelligence (AI) Systems by Insurers: While acknowledging the benefits of AI in insurance, the NHID stresses the importance of consumer protection. The department recently issued a modified version of the NAIC Model Bulletin on the Use of AI Systems in insurance, setting forth expectations on governance and compliance with insurance laws. The NHID urges the federal government to allow states to balance innovation with consumer protection.

The Insurance Department remains committed to supporting New Hampshire's Congressional delegation and serving constituents. For additional information or assistance, please contact the NHID. 

The New Hampshire Insurance Department Can Help
The New Hampshire Insurance Department’s mission is to promote and protect the public good by ensuring the existence of a safe and competitive insurance marketplace through the development and enforcement of the insurance laws of the State of New Hampshire. Contact us with any questions or concerns you may have regarding your insurance coverage at 1‐800‐ 852‐3416 or (603) 271‐2261, or by email at consumerservices@ins.nh.gov. For more information, visit https://insurance.nh.gov.