reglab/housing_qa huggingface dataset:
RI Gen L § 27-5-29 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-5 - Fire Insurance Policies and Reserves|Section 27-5-29 - Statement on policy as to surplus and reserve funds.

§ 27-5-29. Statement on policy as to surplus and reserve funds.Every policy issued by a company which has constituted and set apart a guaranty surplus and special reserve fund under §§ 27-5-15 — 27-5-31, or any prior law of this state, shall have printed on the policy by the company a statement that the policy is issued under and in pursuance of the laws of the state of Rhode Island relating to guaranty surplus and special reserve funds, and every policy shall be deemed to have been issued and received subject to the provisions of this chapter.History of Section.P.L. 1907, ch. 1438, § 10; G.L. 1909, ch. 219, § 35; G.L. 1923, ch. 255, § 35; G.L. 1938, ch. 150, § 34; G.L. 1956, § 27-5-29.
RI Gen L § 27-5-30 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-5 - Fire Insurance Policies and Reserves|Section 27-5-30 - Funds established under prior law.

§ 27-5-30. Funds established under prior law.The action of any company organized under the laws of this state authorized to do a fire insurance business in constituting and setting apart guaranty surplus and special reserve funds under the provisions of §§ 26 to 33 of chapter 181 of the General Laws of 1896, or of chapter 307 of the Public Laws of 1896, or under any prior act of the general assembly, is hereby confirmed and approved and those companies may continue to hold and maintain the funds so constituted and set apart, subject to the terms and provisions of §§ 27-5-15 — 27-5-31; and provided, that as to all policies issued prior to July 1, 1907, and which by their terms are made subject to §§ 26 to 33 of chapter 181 of the General Laws of 1896 and chapter 307 of the Public Laws of 1896, those sections and acts shall remain in full force and effect.History of Section.P.L. 1907, ch. 1438, § 11; G.L. 1909, ch. 219, § 36; G.L. 1923, ch. 255, § 36; G.L. 1938, ch. 150, § 35; G.L. 1956, § 27-5-30.
RI Gen L § 27-5-31 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-5 - Fire Insurance Policies and Reserves|Section 27-5-31 - Termination of surplus and reserve fund method - Return of special reserve fund.

§ 27-5-31. Termination of surplus and reserve fund method — Return of special reserve fund.Any company which has established a guaranty surplus fund and special reserve fund may, at a regular meeting of its board of directors, or at a special meeting called for that purpose, adopt a resolution declaring its desire and intention to discontinue those funds and to cease to do business under and in pursuance of the provisions of law relating to those funds, and file a certified copy of that resolution with the insurance commissioner. Upon the adoption and filing of that resolution, all rights of the company to withhold a special reserve fund from its general creditors shall be terminated and the company shall discontinue printing upon its policies or renewals the notice provided for in § 27-5-29, and after this the provisions of this chapter so far as they relate to those funds shall cease to apply to the company; provided, that the special reserve fund of the company shall continue at the amount prescribed by the provisions of this chapter at the date of the making and filing of the resolution and the guaranty surplus fund may continue at a like amount, but those funds need not be increased on account of any increase in capital of the company or otherwise after the adoption and filing of the resolution and shall be held and invested as provided in §§ 27-5-15 — 27-5-31, but only for the purpose of assuring to the holders of policies at the time the resolution is filed with the insurance commissioner any rights and privileges as may inure to them under §§ 27-5-15 — 27-5-31. At the expiration of five (5) years after the adoption and filing of the resolution by the company, the special reserve fund shall be reduced to an amount equal to the unearned premium upon and all losses incurred and unpaid under any remaining policies which were outstanding at the time of the adoption and filing of the resolution. The excess of the special reserve fund above that amount shall be returned by the insurance commissioner to the company, and when all policies which were outstanding at the time of the adoption and filing of the resolution shall have terminated by expiration or by cancellation, the entire balance of the special reserve fund shall be returned to the company.History of Section.G.L. 1909, cn. 219, § 34; P.L. 1919, ch. 1783, § 1; G.L. 1923, ch. 255, § 34; G.L. 1938, ch. 150, § 33; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-5-31.
RI Gen L § 27-6-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-1 - Purpose.

§ 27-6-1. Purpose.The purpose of this chapter is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of this chapter. Nothing in this chapter is intended to prohibit or discourage reasonable competition, or to prohibit or encourage, except to the extent necessary to accomplish the purpose of this section, uniformity in insurance rates, rating systems, or rating plans or practices. This chapter shall be liberally interpreted to carry into effect the provisions of this section.History of Section.P.L. 1948, ch. 2088, § 1; G.L. 1956, § 27-6-1.
RI Gen L § 27-6-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-2 - Applicability.

§ 27-6-2. Applicability.(a) This chapter applies to fire, marine, and inland marine insurance on risks located in this state. Inland marine insurance shall include insurance now or defined by statute, or by interpretation of a statute, or if not defined or interpreted by statute, by ruling of the insurance commissioner, referred to throughout this chapter as "commissioner", or as established by general custom of the business, as inland marine insurance.(b) This chapter shall not apply:(1) To reinsurance, other than joint reinsurance to the extent stated in §§ 27-6-37 and 27-6-38;(2) To insurance of vessels or craft, their cargoes, marine builders' risks, marine protection and indemnity, or other risks commonly insured under marine, as distinguished from inland marine, insurance policies;(3) To insurance of hulls of aircraft, including their accessories and equipment, or against liability arising out of the ownership, maintenance, or use of aircraft; or(4) To motor vehicle insurance, or to insurance against liability arising out of the ownership, maintenance, or use of motor vehicles.History of Section.P.L. 1948, ch. 2088, § 2; G.L. 1956, § 27-6-2.
RI Gen L § 27-6-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-3 - Insurers to which chapter applicable - Election between applicable laws.

§ 27-6-3. Insurers to which chapter applicable — Election between applicable laws.This chapter applies to all insurers that, under any provision of the laws of this state, write any of the kinds of insurance to which this chapter applies. If any kind of insurance, or subdivision or combination of it, or type of coverage, subject to this chapter, is also subject to regulation by another rate regulatory act of this state, an insurer to which both acts are applicable shall file with the commissioner a designation as to which rate regulatory act shall be applicable to it with respect to that kind of insurance, or subdivision or combination of it, or type of coverage.History of Section.P.L. 1948, ch. 2088, § 2; G.L. 1956, § 27-6-3.
RI Gen L § 27-6-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-4 - Considerations in rate making.

§ 27-6-4. Considerations in rate making.Rates shall be made in accordance with the following provisions:(1) Manual, minimum, or class rates, rating schedules, or rating plans shall be made and adopted, except in the case of specific inland marine rates, on risks specially rated;(2) Rates shall not be excessive, inadequate, or unfairly discriminatory; and(3) Due consideration shall be given to past and prospective loss experience within and outside of this state, to the conflagration and catastrophe hazards, to a reasonable margin for underwriting profit and contingencies, to dividends savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers, to past and prospective expenses both country-wide and those specially applicable to this state, and to all other relevant factors within and outside of this state. In the case of fire insurance rates consideration shall be given to the experience of the fire insurance business during a period of not less than the most recent five (5) year period for which that experience is available.History of Section.P.L. 1948, ch. 2088, § 3; G.L. 1956, § 27-6-4.
RI Gen L § 27-6-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-5 - Uniformity of rates.

§ 27-6-5. Uniformity of rates.Except to the extent necessary to meet the provisions of § 27-6-4(2), uniformity among insurers in any matters within the scope of § 27-6-4 is neither required or prohibited.History of Section.P.L. 1948, ch. 2088, § 3; G.L. 1956, § 27-6-5.
RI Gen L § 27-6-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-6 - Contracts as to commissions or compensation.

§ 27-6-6. Contracts as to commissions or compensation.Nothing in this chapter shall abridge or restrict the freedom of contract between insurers and insurance producers with respect to commissions or between insurers and their employees or other persons with respect to compensation for goods or services.History of Section.P.L. 1948, ch. 2088, § 3; G.L. 1956, § 27-6-6.
RI Gen L § 27-6-6.1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-6.1 - Approval of policies.

§ 27-6-6.1. Approval of policies.(a) Every insurance company and every rating/advisory organization issuing policies covering fire and marine insurance provided for in this chapter shall file with the director a copy of the form of the policies proposing to use. A policy may not be issued until the director has approved the form.(b) Any policy form, subject to this chapter and filed by an insurer or rating/advisory organization on behalf of its members or subscribers with the director, shall be deemed public information at the time of filing.History of Section.P.L. 2002, ch. 175, § 1.
RI Gen L § 27-6-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-7 - Use of rates.

§ 27-6-7. Use of rates.Rates made in accordance with §§ 27-6-4 — 27-6-6 may be used subject to the provisions of this chapter.History of Section.P.L. 1948, ch. 2088, § 3; G.L. 1956, § 27-6-7.
RI Gen L § 27-6-8 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-8 - Filing of rate schedules and plans.

§ 27-6-8. Filing of rate schedules and plans.(a) Every insurer shall file with the commissioner, except as to inland marine risks which by general custom of the business are not written according to manual rates or rating plans, every manual, minimum, or class rate, rating schedule or rating plan, and every other rating rule, and every modification of any of these which it proposes to use; provided, that rates other than class rates determined by the application of any rating schedule or rating plan may be modified without additional filing to produce rates for individual risks which are lower than those filed and which evaluate variations in physical or moral hazards, individual risk experience, or expense provisions and which are not inadequate or unfairly discriminatory. Every filing shall state the proposed effective date, and shall indicate the character and extent of the coverage contemplated.(b) When a filing is not accompanied by the information upon which the insurer supports that filing, and the commissioner does not have sufficient information to determine whether that filing meets the requirements of the chapter, the commissioner shall require the insurer to furnish the information upon which it supports that filing. The information furnished in support of a filing may include: (1) the experience or judgment of the insurer or rating organization making the filing, (2) its interpretation of any statistical data it relies upon, (3) the experience of other insurers or rating organizations, or (4) any other relevant factors. A filing and any supporting information shall be open to public inspection. Specific inland marine rates on risks specially rated, made by a rating organization, shall be filed with the commissioner.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-8; P.L. 1968, ch. 286, § 1.
RI Gen L § 27-6-8.1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-8.1 - Rating for nonbusiness policies.

§ 27-6-8.1. Rating for nonbusiness policies.(a) Notwithstanding the requirements of § 27-6-8, a filing made by an insurer under this section that provides for an overall statewide rate increase or decrease of no more than five percent (5%) in the aggregate for all coverages that are subject to the filing may take effect the date it is filed. The five percent (5%) limitation does not apply on an individual insured basis. No more than one rate filing may be made by an insurer pursuant to the expedited process provided in this subsection during any twelve (12) month period, unless a rate filing, when combined with any other rate filing or filings made by an insurer within the preceding twelve (12) months, does not result in an overall statewide increase or decrease of more than five percent (5%) in the aggregate for all coverages that are subject to the filing.(b) Rate filings falling outside of the limitation provided for in subsection (a) of this section shall be subject to § 27-6-11, unless those filings are other exempt from those provisions pursuant to another section of the insurance code.(c) A filing submitted pursuant to subsection (a) of this section is considered to comply with state law. However, if the commissioner of insurance determines that the filing is inadequate or unfairly discriminatory, he/she shall issue a written order specifying in detail the provisions of the insurance code the insurer has violated and the reasons the filing is inadequate or unfairly discriminatory and stating a reasonable future date on which the filing is to be considered no longer effective. An order by the commissioner pursuant to this subsection that is issued more than thirty (30) days from the date on which the commissioner received the rate filing is prospective only and does not affect any contract issued or made before the effective date of the order. For purposes of this act, "unfairly discriminatory" means a rate for a risk that is classified in whole or in part on the basis of race, color, creed or national origin.(d) No rate increase within the limitation specified in subsection (a) of this section may be implemented with regard to an individual existing policy, unless the increase is applied at the time of a renewal or conditional renewal of an existing policy and the insurer, at least thirty (30) days in advance of the end of the insured's policy period, mails or delivers to the named insured, at the address shown in the policy, a written notice that clearly and conspicuously discloses its intention to change the rate. A notice of renewal or conditional renewal that clearly and conspicuously discloses the renewal premium applicable to the policy shall be deemed to be in compliance with this subsection.History of Section.P.L. 2004, ch. 481, § 2.
RI Gen L § 27-6-8.2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-8.2 - Premium reduction for fire code safety prevention.

§ 27-6-8.2. Premium reduction for fire code safety prevention.Every schedule of rates, rating plan, or rating system for commercial property insurance filed with the commissioner shall provide for a reduction of, or credit in premium for insureds that install and maintain fire prevention and suppression equipment and/or other equipment that has been demonstrated to minimize or lessens an insured loss from fire including, but not limited to, sprinkler system, alarms, and any other equipment required or recommended by the state of Rhode Island for fire safety and/or prevention. Insurers shall also provide for a reduction of, or credit in premium for the use of building materials and/or building techniques that have been demonstrated to minimize or lessen an insured loss from fire. Any reduction of, or credit in premium required by this section must be actuarially supported and information sufficient to document such support must be included in the filing to the department.History of Section.P.L. 2008, ch. 391, § 1.
RI Gen L § 27-6-9 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-9 - Filings by rating organizations.

§ 27-6-9. Filings by rating organizations.An insurer may satisfy its obligation to make the filings referred to in § 27-6-8 by becoming a member of, or subscriber to, a licensed rating organization which makes those filings, and by authorizing the commissioner to accept those filings on its behalf; provided, that nothing contained in this chapter shall be construed as requiring any insurer to become a member of or a subscriber to any rating organization.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-9.
RI Gen L § 27-6-10 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-10 - Review of filings.

§ 27-6-10. Review of filings.The commissioner shall review filings as soon as reasonably possible after they have been made in order to determine whether they meet the requirements of this chapter.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-10.
RI Gen L § 27-6-11 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-11 - Waiting period - Effective date of filings.

§ 27-6-11. Waiting period — Effective date of filings.Subject to the exception specified in § 27-6-10, each filing shall be on file for a waiting period of thirty (30) days before it becomes effective, which period may be extended by the commissioner for an additional period not to exceed thirty (30) days if the commissioner gives written notice within that waiting period to the insurer or rating organization which made the filing that he or she needs that additional time for the consideration of the filing. Upon written application by the insurer or rating organization, the commissioner may authorize a filing that he or she has reviewed to become effective before the expiration of the waiting period or any extension. A filing shall be deemed to meet the requirements of this chapter and to become effective unless disapproved by the commissioner within the waiting period or any extension; provided, that if the commissioner gives written notice to the insurer or rating organization within the waiting period or any extension that he or she will hold a hearing on the filing, the filing shall not become effective before or until the commissioner issues his or her decision. Upon giving that notice the commissioner shall also give public notice of the hearing by causing a notice to be published in a newspaper of general circulation in the state at least ten (10) days prior to the hearing stating the name of the insurer or rating organization which has made the filing and including a general description of the subject matter and sending a copy of that notice to the consumer protection unit of the department of attorney general. The commissioner shall hold a hearing on major filings. The hearing shall be held and a decision issued by the commissioner as soon as reasonably possible.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-11; P.L. 1968, ch. 286, § 2; P.L. 1971, ch. 191.
RI Gen L § 27-6-11.1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-11.1 - Costs.

§ 27-6-11.1. Costs.For the purpose of determining whether the filing meets the requirements of this chapter, the director may employ staff personnel and outside consultants, including, but not limited to, those authorized pursuant to § 27-9-52. The reasonable costs related to the review of rate filings, including the conduct of the hearing, shall be borne by the rating organizations or insurers making the filing.History of Section.P.L. 2005, ch. 174, § 1.
RI Gen L § 27-6-12 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-12 - Effective date of inland marine rates.

§ 27-6-12. Effective date of inland marine rates.Specific inland marine rates on risks specially rated by a rating organization shall become effective when filed and shall be deemed to meet the requirements of this chapter until such time as the commissioner reviews the filing and so long after this as the filing remains in effect.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-12.
RI Gen L § 27-6-13 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-13 - Suspension or modification of requirements - Examinations as to fairness.

§ 27-6-13. Suspension or modification of requirements — Examinations as to fairness.Under the rules and regulations that he or she shall adopt, the commissioner may, by written order, suspend or modify the requirement of filing as to any kind of insurance, or subdivision or combination of it, or as to classes of risks, the rates for which cannot practicably be filed before they are used. Those orders, rules, and regulations shall be made known to insurers and rating organizations affected by them. The commissioner may make an examination as he or she may deem advisable to ascertain whether any rates affected by an order meet the standards set forth in § 27-6-4(2).History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-13.
RI Gen L § 27-6-14 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-14 - Rates on specific risks exceeding filed rates.

§ 27-6-14. Rates on specific risks exceeding filed rates.Upon the written consent of the insured, stating the insured's reasons, filed with and approved by the commissioner, a rate in excess of that provided by an applicable filing may be used on any specific risk.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-14.
RI Gen L § 27-6-15 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-6 - Fire and Marine Insurance Rating|Section 27-6-15 - Compliance with rate filings required.

§ 27-6-15. Compliance with rate filings required.No insurer shall make or issue a contract or policy at a rate or premium in excess of filings that are in effect for that insurer as provided in this chapter or in accordance with § 27-6-13 or § 27-6-14. This section shall not apply to contracts or policies for inland marine risks as to which filings are not required.History of Section.P.L. 1948, ch. 2088, § 4; G.L. 1956, § 27-6-15.