[§431:10C‑110.5]  Replacing motor vehicle insurance policy through an insurer's affiliate or subsidiary.  An insurer shall be exempt from provisions governing policy cancellations or nonrenewals in sections 431:10C-111, 431:10C-111.5, and 431:10C‑112 if:

     (1)  The insurer offers to replace the insured's policy through the insurer's affiliate or subsidiary;

     (2)  The replacement policy is effective upon the expiration of the existing policy;

     (3)  The replacement policy provides the same or better coverage, terms, and conditions as the existing policy at a lower premium than the existing policy;

     (4)  The insurer provides at least thirty days written notice of the prospective replacement to the insured; provided that the insured may waive notice pursuant to this paragraph; and

     (5)  The insured accepts the replacement policy. [L 2011, c 11, §1]