Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
82 Automobile insurance
undertake the type of automobile insurance that is evidenced by a
motor vehicle liability policy, except the type of insurance provided
in a standard excess automobile policy or standard non-owned
automobile policy.
(2) The Minister may issue a licence to a reciprocal insurance
exchange that authorizes the exchange to undertake automobile
insurance, other than the type described in subsection (1), if the
Minister is satisfied that
(a) the exchange has signed r eciprocal contracts or bona fide
applications for such contracts for at least the prescribed
number of automobiles, and
(b) arrangements are in effect for the reinsurance of all
liabilities in excess of the prescribed limits.
RSA 2000 cI-3 s82;2005 c27 s10;2008 c19 s18