Do you know what’s in your insurance policy?
If you have a business or have purchased personal insurance (chances are high, if you’re reading this -you have!)… you probably haven’t really read through all the details of what’s in your policy. Especially when purchasing insurance online, it usually leaves us with more questions than answers about what’s covered and what’s not and what happens if problems arise.
The good news is that you don’t have to learn the hard way that you have gaps or coverage issues. In this blog and episode of MonadTalk, Luca Paris is joined by AJ Kierstead and Keith Nyhan of The New Hampshire Insurance Department to discuss one of the most riveting topics around…
Insurance.
Ok, so it’s perhaps not the most interesting subject, but it’s one of the oldest industries in the world and it’s important not to overlook it if you want to ensure adequate protection for your business, assets, and health.
What IS insurance?
Insurance, simply put, is the transfer of risk. A group of individuals are essentially pooling resources to ensure that coverage is available if there’s a need. In its basic form, it’s a great principle and can be used to cover risks that occur in:
- Health
- Automobiles
- Homes
- Businesses
- Assets
- Pets
- Life
- Natural disaster
- And more!
In its modern iteration, large companies tend to be “holding the purse strings” and in control of how much money goes in (premiums) and how much comes out (risk coverage). They also decide which claims fit the bill and are eligible for insurance payouts.
How does NH Insurance help?
Keith is the Deputy Commissioner at the Department of NH Insurance. With the department for over 18 years, they work to ensure that insurance companies stay financially solvent to pay out what they deliver. Their financial regulation division focuses on financial audits and assurances and their consumer protection division which ensures contracts comply with laws and regulations and answers questions directly from insurance consumers. They also help to regulate and identify issues within the marketplace.
Unbiased, Consumer-First Insurance Assistance
Educate, navigate, investigate. Most of what The New Hampshire Insurance Department provides can be summed up in those three simple words.
NH Insurance Department answers consumer questions about issues relating to policies, regulations, and navigating a complicated industry.
They can help sift through the complex details no matter where you are in the insurance process and advocate on your behalf to ensure you’re getting treated fairly and ethically.
In 2023, they addressed approximately 5300 individual consumers and recovered more than $6 million for New Hampshire residents.
Honesty is the driving force behind what they do.
While the insurance industry may be driven by profits, the New Hampshire Insurance Department is state-funded and a non-partisan, unbiased, honest resource to mediate between consumers and companies.
One of the current initiatives of the department is helping people know they exist and that the information and resources exist!
The staff is full of expertise, composed of individuals with a deep understanding of insurance and an altruistic desire to help others.
Always looking to bring in capable employees, the department currently staffs around 80 employees and provides a wide range of services.
There’s always new insurance to learn about and be informed about and the New Hampshire Insurance Department is here to help!
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Get in touch with the New Hampshire Insurance Department
The best way to reach out to Keith, AJ, and their team at The New Hampshire Insurance Department is to call 1-800-852-3416 and visit their website at nh.gov/insurance
Small Businesses are the Backbone of Our Local Insurance Industry
For businesses and individuals in the Monadnock Region, AJ and Keith love encouraging folks to shop smart for their insurance policies and work with a local insurance agency with an agent you can trust and rely on, whenever possible! Your local, loyal agent is there to help YOU -answer questions, navigate your options, and get the best prices possible. Don’t be afraid to ask and seek to understand to strengthen your financial position and decrease your risk.
Want to learn more about The New Hampshire Department of Insurance and Connect with Keith or AJ?
Links to connect: Website | Email | Phone: 603.271. 2261 | 800.852.3416
