[§431:10H-222] Reporting requirements. (a) Every insurer shall maintain records for each agent of the agent's amount of replacement sales as a per cent of the agent's total annual sales and the amount of lapses of long-term care insurance policies sold by the agent as a per cent of the agent's total annual sales.

(b) Every insurer shall report annually by June 30 the ten per cent of its agents with the greatest percentages of lapses and replacements as measured in subsection (a).

(c) Reported replacement and lapse rates do not alone constitute a violation of insurance laws or necessarily imply wrongdoing. The reports are for the purpose of reviewing more closely agent activities regarding the sale of long-term care insurance.

(d) Every insurer shall report annually by June 30 the number of lapsed policies as a per cent of its total annual sales and as a per cent of its total number of policies in force as of the end of the preceding calendar year.

(e) Every insurer shall report annually by June 30 the number of replacement policies sold as a per cent of its total annual sales and as a per cent of its total number of policies in force as of the end of the preceding calendar year.

(f) For purposes of this section, "policy" means only long-term care insurance and "report" means on a statewide basis. [L 1999, c 93, pt of §2]