§431:14-111 - Advisory organizations.
§431:14-111 Advisory organizations. (a) Every group, association or other organization of insurers, whether located within or outside this State, which assists insurers which make their own filings or rating organizations in ratemaking, by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but which does not make filings under this article, shall be known as an advisory organization.
(b) Every advisory organization shall file with the commissioner:
(1) A copy of its constitution, its articles of agreement or association, or its certificate of incorporation and of its bylaws, rules and regulations governing its activities;
(2) A list of its members;
(3) The name and address of a resident of this State upon whom notices or orders of the commissioner or process issued at the commissioner's direction may be served; and
(4) An agreement that the commissioner may examine the advisory organization in accordance with section 431:14-113.
(c) If, after a hearing, the commissioner finds that the furnishing of such information or assistance by the advisory organization involved any act or practice which is unfair or unreasonable or otherwise inconsistent with this article, the commissioner may issue a written order specifying in what respects the act or practice is unfair or unreasonable or otherwise inconsistent with this article, and requiring the discontinuance of the act or practice.
(d) No insurer which makes its own filings, nor any rating organization, shall support its filings by statistics or adopt ratemaking recommendations furnished to it by an advisory organization which has not complied with this section or with an order of the commissioner involving the statistics or recommendations issued under subsection (c). If the commissioner finds such insurer or rating organization to be in violation of this subsection, the commissioner may issue an order requiring the discontinuance of such violation. [L 1987, c 347, pt of §2]