§431:10C-111.5  Limit on nonrenewals andconditional renewals.  (a)  The total number (rounded to the nearest wholenumber) of notices of intention not to renew a motor vehicle insurance policy,and of notices of intention to condition renewal upon reduction of limits ofany coverage, which an insurer may issue, shall be limited for each calendaryear to two per cent of the total number of covered policies of the insurer inforce at last year-end in each of the insurer's rating territories in use inthis State that have completed their required policy periods.  However, theinsurer may non-renew or conditionally renew one policy in any of the insurer'srating territories in use in this State if the applicable percentage limitationresults in less than one policy.  Cancellations, notices of intention not torenew, and notice of intention to conditionally renew made pursuant to section431:10C-111(a)(1) and (a)(2), and section [431:10C-111(d)] shall be independentof and in addition to those permitted under this subsection.

(b)  For every two new motor vehicle insurancepolicies that the insurer voluntarily writes in each rating territory, theinsurer shall be permitted to non-renew or conditionally renew one additionalmotor vehicle insurance policy in that territory in excess of the two per centlimit established in subsection (a), subject to a fair and nondiscriminatoryformula developed by the commissioner that shall consider the number of motorvehicle insurance policies written less cancellations initiated by the insurerwithin the first sixty days of the policy period. [L Sp 1993, c 4, §1; am L1998, c 275, §8]

 

Revision Note

 

  Subsection (a) reprinted to correct reference in main volume.