LTCI Policies’ Rate-Increase Caps Are Invalid, New Hampshire High Court Rules

(February 19, 2021, 8:14 AM EST) -- CONCORD, N.H. — The New Hampshire Supreme Court on Feb. 17 held that amended regulations that retroactively limited rate increases for long-term care insurance (LTCI) policies exceeded the New Hampshire Insurance commissioner's mandate “because they are not reasonable rules that either promote premium adequacy or protect policyholders in the event of substantial rate increases” and, therefore, are invalid, reversing and remanding a lower court’s ruling on a life insurer’s ultra vires claim against the New Hampshire Department of Insurance....