reglab/housing_qa huggingface dataset:
RI Gen L § 27-33-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-2 - Participation.

§ 27-33-2. Participation.Each domestic insurer and all insurers licensed to write those classes of insurance listed in §§ 27-8-1 and 27-8-3 in the state, on a direct basis, shall participate in the basic property insurance and placement program established in this state in furtherance of 12 U.S.C. § 1749bbb et seq., commonly known as the FAIR (Fair Access to Insurance Requirements) plan. Failure to comply with this provision may be grounds for revocation, suspension, or nonrenewal of any license.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-3 - Inspection and statements.

§ 27-33-3. Inspection and statements.There shall be no liability on the part of, and no cause of action of any nature shall arise against insurers, any inspection bureau, placement facility, or underwriting association, or their directors, agents, or employees, or the director of business regulation or his or her authorized representatives, for any inspections undertaken or statements made by any of them concerning the property to be insured, and any reports and communications in connection with any inspections or statements shall not be considered public documents.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-4 - Creation of fund.

§ 27-33-4. Creation of fund.There is created a fund to be known as the "federal riot reinsurance reimbursement fund," referred to in this chapter as "the fund," which shall be operated under the joint control of the general treasurer and the director of business regulation. The fund shall consist of all of the payments made to the fund by insurers in accordance with the provisions of this chapter. The tax administrator shall have the same power to enforce the collection of the assessments provided under this chapter as any other obligations due the state.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-5 - Reimbursement of the secretary.

§ 27-33-5. Reimbursement of the secretary.The fund shall reimburse the secretary in an amount up to five percent (5%) of the aggregate property insurance premiums earned in this state during the calendar year immediately preceding the calendar year, with respect to which the secretary paid losses on lines of insurance reinsured by him or her in this state during that year, and for which he or she claims reimbursement from the fund in accordance with the Act.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-6 - Post assessment funding.

§ 27-33-6. Post assessment funding.Whenever the secretary shall, in accordance with the Act, present to the state a request for reimbursement under the Act, the fund shall immediately assess all insurers that, during the calendar year with respect to which reimbursement is requested by the secretary, were chartered or licensed or engaged in writing those classes of insurance listed in §§ 27-8-1 and 27-8-3. The amount of each insurer's assessment shall be calculated by multiplying the amount of the reimbursement requested by the secretary by a fraction the numerator of which is the insurer's premiums actually written in this state in that calendar year and the denominator of which is the aggregate of the written premiums for all insurers. Insurers may add to the premiums applicable to the lines on which the assessment is levied, an amount to be approved by the insurance commissioner, sufficient to recover within not more than three (3) years any amounts assessed under this section during the preceding calendar year together with the amount of costs and expenses reasonably attributable to the assessments and recovery of them.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-7 - Authorization of payment.

§ 27-33-7. Authorization of payment.The fund shall reimburse the secretary, up to amounts actually collected by it, upon drafts or vouchers duly authorized by the general treasurer with the approval of the director of business regulation.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-8 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-8 - Insolvency.

§ 27-33-8. Insolvency.In the event any insurer fails, by reason of insolvency, to pay any assessment, the fund shall cause the reimbursement ratios, computed under § 27-33-6, to be immediately recalculated, excluding from them the insolvent insurer, so that its assessment is in effect, assumed and redistributed among the remaining insurers.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-9 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-9 - Alternate preassessment funding.

§ 27-33-9. Alternate preassessment funding.In the event of a determination by the secretary that the provisions of this chapter are not sufficient to meet the requirements of 12 U.S.C. § 1749bbb-9, the fund shall, with respect to the calendar year in which the determination is made and for each calendar year after that, assess premiums written in this state an amount equal to the maximum for which the fund would be liable to the secretary for that calendar year. As soon as practicable after the close of a calendar year, the fund shall, in accordance with the formula provided in § 27-33-6, calculate the actual liability for reimbursement to the secretary for that calendar year. The difference between the actual liability calculated and the amount previously assessed and paid with respect to that calendar year under this section shall be credited by the fund toward any assessment for any subsequent calendar year.History of Section.P.L. 1969, ch. 211, § 1.
RI Gen L § 27-33-10 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-10 - "Basic property insurance" defined.

§ 27-33-10. "Basic property insurance" defined."Basic property insurance" for the purposes of this chapter means fire, extended coverage, vandalism, malicious mischief, broad and special form dwelling coverage commonly referred to as DP-2 and DP-3, and sprinkler leakage insurance. It shall also include homeowners package coverages which include dwelling and tenant forms, as well as the general liability coverages for one (1) to four (4) family owner and nonowner occupied dwellings, either by endorsement or as a stand-alone policy. The FAIR Plan shall be authorized to make rate filings using the standard that rates shall not be excessive, inadequate or unfairly discriminatory, giving due consideration to the past and prospective loss and expense experience for basic property insurance, written in this state, trends in the frequency and severity of losses, the investment income of the FAIR Plan, and such other information as the director of business regulation may require. All rates shall be calculated to be self-supporting consistent with sound actuarial principles. Rates for basic property insurance shall be approved by the department of business regulation, notwithstanding any limits on rate approval authority. Nothing in this section shall be deemed to affect the duty of licensed insurers in the state of Rhode Island to participate, as needed, on a direct basis, in the program pursuant to §§ 27-33-2 and 27-33-11 and any rules and regulations promulgated thereunder, and to pay their proportionate share of losses and expenses incurred by the program upon assessment by the program.History of Section.P.L. 1971, ch. 271, § 1; P.L. 1972, ch. 165, § 1; P.L. 1981, ch. 83, § 1; P.L. 2003, ch. 335, § 1; P.L. 2003, ch. 357, § 1; P.L. 2006, ch. 158, § 1; P.L. 2006, ch. 204, § 1.
RI Gen L § 27-33-11 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund|Section 27-33-11 - Rules and regulations.

§ 27-33-11. Rules and regulations.The director of business regulation may issue rules, regulations, and orders necessary to carry out the purposes of this chapter. The director is specifically empowered to require that basic property insurance as defined in § 27-33-10 and any other insurance that may be required or suggested by the federal insurance administrator for inclusion be made available under the FAIR plan. Any regulation requiring coverage described in this section, which has been promulgated by the insurance commissioner, is ratified and confirmed.History of Section.P.L. 1971, ch. 271, § 1; P.L. 1998, ch. 441, § 23.
RI Gen L § 27-34-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-1 - Short title.

§ 27-34-1. Short title.This chapter shall be known and may be cited as the "Rhode Island Property & Casualty Insurance Guaranty Association Act."History of Section.P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-2 - Purpose.

§ 27-34-2. Purpose.The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to the extent provided in this chapter, minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to provide an association to assess the cost of such protection among insurers.History of Section.P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-4 - Construction.

§ 27-34-4. Construction.This chapter shall be liberally construed to effect the purpose under § 27-34-2 which will constitute an aid and guide to interpretation.History of Section.P.L. 1988, ch. 407, § 2.
RI Gen L § 27-34-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-6 - Creation of the association.

§ 27-34-6. Creation of the association.There is created a nonprofit unincorporated legal entity to be known as the "Rhode Island Property & Casualty Insurance Guaranty Association," such entity formerly known as the "Rhode Island insurers' insolvency fund." All insurers defined as member insurers in § 27-34-5(12) shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under § 27-34-9 and shall exercise its powers through a board of directors established under § 27-34-7. For the purposes of administration and assessment, there shall be three (3) separate accounts: (1) the workers' compensation insurance account; (2) the automobile insurance account; and (3) the account for all other insurance to which this chapter applies.History of Section.P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-10 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-10 - Duties and powers of the commissioner.

§ 27-34-10. Duties and powers of the commissioner.(a) The commissioner shall:(1) Notify the association of the existence of an insolvent insurer not later than three (3) days after he or she receives notice of the determination of the insolvency. The association shall be entitled to a copy of a complaint seeking an order of liquidation with a finding of insolvency against a member company at the same time that the complaint is filed with a court of competent jurisdiction; and(2) Provide the association with a statement of the net direct written premiums of each member insurer upon request of the board of directors.(b) The commissioner may:(1) Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on a member insurer that fails to pay an assessment when due. The fine shall not exceed five percent (5%) of the unpaid assessment per month, except that a fine not be less than one hundred dollars ($100) per month;(2) Revoke the designation of any servicing facility if he or she finds claims are being handled unsatisfactorily; and(3) Examine, audit, or otherwise regulate the association.(c) A final action or order of the commissioner under this chapter shall be subject to judicial review in a court of competent jurisdiction.History of Section.P.L. 1988, ch. 407, § 2; P.L. 1996, ch. 188, § 14; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-10.5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-10.5 - Coordination among guaranty associations.

§ 27-34-10.5. Coordination among guaranty associations.(a) The association may join one or more organizations of other state associations of similar purposes, to further the purposes and administer the powers and duties of the association. The association may designate one or more of these organizations to act as a liaison for the association and, to the extent the association authorizes, to bind the association in agreements or settlements with receivers of insolvent insurance companies or their designated representatives.(b) The association, in cooperation with other obligated or potentially obligated guaranty associations, or their designated representatives, shall make all reasonable efforts to coordinate and cooperate with receivers, or their designated representatives, in the most efficient and uniform manner, including the use of uniform data standards as promulgated or approved by the national association of insurance commissioners.History of Section.P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
RI Gen L § 27-34-11 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-11 - Effect of paid claims.

§ 27-34-11. Effect of paid claims.(a) Any person recovering under this chapter shall be deemed to have assigned any rights under the policy to the association to the extent of his or her recovery from the association. Every insured or claimant seeking the protection of this chapter shall cooperate with the association to the same extent as the person would have been required to cooperate with the insolvent insurer. The association shall have no cause of action against the insured of the insolvent insurer for sums it has paid out except any causes of action as the insolvent insurer would have had if the sums had been paid by the insolvent insurer and except as provided in subsection (b) of this section and § 27-34-11.5. In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association shall not operate to reduce the liability of the insureds to the receiver, liquidator or statutory successor for unpaid assessments.(b) The association shall have the right to recover from a person who is an affiliate of the insolvent insurer all amounts paid by the association on behalf of that person pursuant to the chapter, whether for indemnity, defense or otherwise.(c) The receiver, liquidator, or statutory successor of an insolvent insurer shall be granted the utmost deference with regard to settlements of covered claims by the fund or a similar organization in another state.(d) The association and any association similar to the association in another state shall be entitled to file a claim in the liquidation of an insolvent insurer for any amounts paid by them on covered claim obligations as determined under this chapter or similar laws in other states and shall receive dividends and other distributions at the priority set forth in § 27-14.3-46.(e) The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association which shall preserve the rights of the association against the assets of the insolvent insurer.History of Section.P.L. 1988, ch. 407, § 2; P.L. 1999, ch. 498, § 1; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-11.5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-11.5 - Net worth exclusion.

§ 27-34-11.5. Net worth exclusion.(a) For purposes of this section "high net worth insured" shall mean any insured, excluding state and local governments, whose net worth exceeds fifty million dollars ($50,000,000) on December 31 of the year prior to the year in which the insurer becomes an insolvent insurer; provided that an insured's net worth on that date shall be deemed to include the aggregate net worth of the insured and all of its subsidiaries and affiliates as calculated on a consolidated basis.(b) (1) The association shall not be obligated to pay any first-party claims by a high net worth insured.(2) The association shall have the right to recover from the high net worth insured all amounts paid by the association to or on behalf of such insured, whether for indemnity, defense or otherwise.(c) The association shall not be obligated to pay any claim that would otherwise be a covered claim that is an obligation to or on behalf of a person who has a net worth greater than that allowed by the insurance guaranty association law of the state of residence of the claimant at the time specified by that state's applicable law, and which association has denied coverage to that claimant on that basis.(d) The association shall establish reasonable procedures subject to the approval of the commissioner for requesting financial information from insureds on a confidential basis for purposes of applying this section, provided that the financial information may be shared with any other association similar to the association and the liquidator for the insolvent insurer on the same confidential basis. Any request to an insured seeking financial information must advise the insured of the consequences of failing to provide the financial information. If an insured refuses to provide the requested financial information where it is requested and available, the association may, until such time as the information is provided, provisionally deem the insured to be a high net worth insured for the purpose of denying a claim under subsection (b) of this section.(e) In any lawsuit contesting the applicability of this section where the insured has refused to provide financial information under the procedure established pursuant to subsection (d) of this section, the insured shall bear the burden of proof concerning its net worth at the relevant time. If the insured fails to prove that its net worth at the relevant time was less than the applicable amount, the court shall award the association its full costs, expenses and reasonable attorney's fees in contesting the claim.History of Section.P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
RI Gen L § 27-34-12.5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-12.5 - Prevention of insolvencies.

§ 27-34-12.5. Prevention of insolvencies.To aid in the detection and prevention of insurer insolvencies:(1) The board of directors may, upon a majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may, upon a majority vote, prepare a report on the history and causes of the insolvency, based on the information available to the association and submit the report to the commissioner.(3) Reports and recommendations provided under this section shall not be considered public documents.History of Section.P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
RI Gen L § 27-34-13 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-13 - Repealed.

§ 27-34-13. Repealed.History of Section.P.L. 1988, ch. 407, § 2; Repealed by P.L. 2010, ch. 91, § 2, effective June 19, 2010, and by P.L. 2010, ch. 117, § 2, effective June 22, 2010.
RI Gen L § 27-34-14 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-14 - Tax exemption.

§ 27-34-14. Tax exemption.The association shall be exempt from the payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real or personal property.History of Section.P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-15 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-15 - Recoupment of assessments.

§ 27-34-15. Recoupment of assessments.The rates and premiums charged for insurance policies to which this section applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.History of Section.P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
RI Gen L § 27-34-16 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association|Section 27-34-16 - Immunity.

§ 27-34-16. Immunity.There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer, the association, or its agents or employees, the board of directors, or any persons serving as an alternate or substitute representative of any director, or the commissioner or his or her representatives for any action taken or any failure to act by them in the performance of their powers and duties under this chapter.History of Section.P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.