Get State Of New Hampshire Date: May 1, 2007 - Administrative ...

The Granite State New Hampshire / Nickname

New Hampshire is a "fault" state, which means that at-fault motorists may be held liable for the injuries and damages they cause. Therefore, victims of negligent drivers must prove who was responsible for the accident in order to pursue compensation for their losses.

Because of the state's extensive granite quarries, New Hampshire is most well-known as the "Granite State." It is also known as "Mother of Rivers," "White Mountain State" and "Switzerland of America" for the mountain scenery.

Insurance companies in New Hampshire have 45 working days to settle a claim after it is filed. New Hampshire insurance companies also have specific time frames in which they must acknowledge the claim and then decide whether to accept it, before paying out the final settlement.

The term popped up in government and newspaper articles in the 1870s. It was more common then to describe American geography using Europeans references. From New Hampshire to Colorado, a lot of hilly places became the Switzerland of America.

Once they decide to cover a claim, they need to do so within a reasonable timeframe. In most cases a reasonable timeframe would be 30 days. Some states have statutes that outline how long insurance companies have to complete each step of this process, while others leave the amount of time more ambiguous.

When an insurance company refuses to settle, it may be liable for the full amount of the excess judgment after trial, notwithstanding the lower policy limits. This duty of good faith aligns the insurance company's incentives with those of its insured.

The time limit set for the claim settlement process by the IRDAI is within 30 days of raising the claim. Most insurance companies settle the claims within 10 days. Read on to know everything about the claim settlement process.