reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-10.1 - Motor Vehicle Damage Appraisers › Section 27-10.1-11. - Emergency licenses.

§ 27-10.1-11. Emergency licenses.
(a)
Notwithstanding any of the provisions of this chapter, the commissioner may grant emergency licenses to permit an experienced motor vehicle appraiser to act as a motor vehicle physical damage appraiser in this state without a Rhode Island license if:
(1)
The appraiser is either a licensed appraiser in another state which requires a license or regularly appraises motor vehicle damage in another state where such licensing is not required and works for an insurance company authorized to do business in Rhode Island;
(2)
He or she is engaged in emergency insurance appraisal work during the period of emergency only, as determined by the commissioner.
(b)
The experienced appraiser may work in this state either for an employer who is an appraiser licensed by this state, or for a regular employer of one or more appraisers licensed by this state, or for an insurance company authorized to do business in this state; provided, that the employer or insurer shall furnish to the commissioner a notice in writing or electronically promptly after the beginning of any emergency insurance appraisal work. The appraiser may appraise claims within or outside the state.
Emergency licenses permitted under this section shall not exceed one hundred twenty (120) days, unless extended by the commissioner.
(c)
As used in this section, “emergency insurance appraisal work” means and includes, but is not limited to, appraisal of motor vehicle damage during the term of an emergency license following an event or catastrophe as determined by the commissioner, or a state of disaster declared by the governor of the state of Rhode Island or by the president of the United States under applicable federal law.
History of Section.
P.L. 2012, ch. 321, § 1; P.L. 2012, ch. 330, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-10.2 - Motor Vehicle Replacement Parts › Section 27-10.2-1. - Definitions.

§ 27-10.2-1. Definitions.
As used in this chapter:
(1)
“Aftermarket part” means a motor vehicle replacement part that is not an original equipment manufacturer part; and
(2)
“Original equipment manufacturer part” or “OEM part” means a motor vehicle replacement part manufactured by the manufacturer of the motor vehicle being repaired.
History of Section.
P.L. 1987, ch. 338, § 1; P.L. 2018, ch. 298, § 1; P.L. 2018, ch. 321, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-10.2 - Motor Vehicle Replacement Parts › Section 27-10.2-2. - Aftermarket parts — Time limit prohibition.

§ 27-10.2-2. Aftermarket parts — Time limit prohibition.
(a)
Whenever an insurance company, in adjusting a claim for motor vehicle physical damage, intends to specify the use of aftermarket parts, it shall notify the vehicle owner in writing. Any auto body repair shop conducting business in the state of Rhode Island shall not use non-original equipment manufactured (OEM) parts, also referred to as aftermarket parts, in the repair of any person’s automobile, without that person giving the repairer his or her express written consent.
(b)
No insurance company may require the use of aftermarket parts when negotiating repairs with any repairer unless the repairer has written consent from the vehicle owner to install aftermarket parts. The provisions of this section shall apply only to automobiles that are less than forty-eight (48) months beyond the date of manufacture.
(c)
For any automobile that is less than forty-eight (48) months beyond the date of manufacture, the insurer and the auto body repair shop must provide a written notice to the vehicle owner that: (i) He or she may require the insurer to pay for and the auto body shop to install “original equipment manufacturer parts” or “OEM parts” in the repair of a motor vehicle; or (ii) He or she may require the insurer to pay for and the auto body shop to install “non-original equipment manufacturer parts” (non-“OEM parts”) in the repair of a motor vehicle. To comply with this provision, written notice may be provided on the appraisal written on behalf of the insurer and the estimate prepared by the auto body repair shop.
(d)
When “OEM part(s)” are used in the repair of a motor vehicle, no insurance company may require any repairer to use repair procedures that are not in compliance with the recommendations of the original equipment manufacturer.
(e)
This chapter shall not apply to the repair or replacement of motor vehicle glass performed by licensed motor vehicle glass repair shops pursuant to chapter 38.5 of title 5.
History of Section.
P.L. 1987, ch. 338, § 1; P.L. 1994, ch. 116, § 1; P.L. 2006, ch. 621, § 1; P.L. 2007, ch. 313, § 1; P.L. 2007, ch. 418, § 1; P.L. 2008, ch. 475, § 6; P.L. 2018, ch. 298, § 1; P.L. 2018, ch. 321, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-10.2 - Motor Vehicle Replacement Parts › Section 27-10.2-3. - Standards for use of aftermarket parts.

§ 27-10.2-3. Standards for use of aftermarket parts.
Whenever aftermarket parts are used for repairs to physically damaged motor vehicles, the following standards shall apply:
(1)
The aftermarket parts shall be at least equal in kind and quality to the OEM parts in terms of fit, quality and performance;
(2)
To the extent practical, an insurance company shall not require the use of multiple aftermarket parts distributors to provide parts for a single repair;
(3)
Insurers specifying the use of aftermarket parts shall make allowances for the reasonable cost of any modifications to the aftermarket parts which may become necessary when making the repair, and for the cost of fitting, removing, and/or handling aftermarket parts which do not result in the vehicle being repaired to its condition prior to the loss;
(4)
If the aftermarket part specified by the insurer does not result in the vehicle being repaired to its condition prior to the loss, the insurer shall then specify the use of an OEM part;
(5)
The automobile body shop shall promptly notify the appraiser if the aftermarket part specified by the insurer does not result in the vehicle being repaired to its condition prior to the loss and permit the appraiser to reinspect the vehicle and make appropriate supplemental authorizations, if necessary;
(6)
The automobile body shop shall provide documentation of aftermarket parts, which do not meet the requirements of this section, as reasonably requested by the insurer. The insurer shall be permitted to exercise any available rights of recovery against the aftermarket parts distributor.
History of Section.
P.L. 2003, ch. 239, § 1; P.L. 2003, ch. 368, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-10.4 - Motor Vehicle Appraisal Provision › Section 27-10.4-1. - Motor vehicle appraisal provision.

§ 27-10.4-1. Motor vehicle appraisal provision.
(a)
When the insurance company and the insured or claimants fail to agree on the amount of a loss, either has the right to exercise the independent appraisal process outlined in this section. Agreements by the parties shall be binding. Each shall select a disinterested Rhode Island licensed appraiser. The insurer’s chosen appraiser shall inspect the damaged motor vehicle within three (3) business days after the written demand is received; provided, the damaged motor vehicle is on the premises of the repair shop when the request is made. If the insurer’s appraiser fails to inspect the damaged motor vehicle within the three (3) business days the insurer shall forfeit its right to inspect the damaged vehicle prior to repairs, and negotiations shall be limited to labor and the price of parts and shall not, unless objective evidence to the contrary is provided by the insurer, involve disputes as to the existence of damage or the chosen manner of repair. The time limitations set forth in this subsection may be extended by mutual agreement between the auto body repair shop and the insurer.
(b)
If the two (2) appraisers fail to agree on the amount of the loss, the insurer and the insured or claimant shall select an impartial Rhode Island licensed appraiser as an umpire appraiser. If the two (2) appraisers are unable to agree upon an umpire within three (3) business days, the party making the initial demand for the loss to be set by appraisal shall select an umpire. The appraisers shall then submit their differences to the umpire appraiser. The umpire appraiser shall render a decision within three (3) business days, and written agreement by any two (2) of the three (3) shall set the amount of the loss. The time limitations set forth in this subsection may be extended by mutual agreement between the auto body repair shop and the insurer.
(c)
The insurer shall not engage in any act or practice of intimidation, coercion, threat, or misrepresentation of consumer rights, for or against an insured person, claimant, or entity chosen in this process.
History of Section.
P.L. 2023, ch. 342, § 3, effective June 26, 2023; P.L. 2023, ch. 343, § 3, effective June 26, 2023.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11 - Investment in Real Estate › Section 27-11-1. - Power of life insurance company to acquire and hold property.

§ 27-11-1. Power of life insurance company to acquire and hold property.
Any life insurance company incorporated under a charter granted by the general assembly of this state and any life insurance company incorporated under a charter or the laws of any other state in the United States of America which is empowered to engage in the business of making insurance upon lives, and which has complied with or shall comply with the requirements of chapter 2 of this title to engage in the life insurance business in this state, may and is authorized to invest in, purchase, lease, or acquire by gift or otherwise, and hold without any limitation of time, any real property or any interest in the property, in this state, and may use that property, and any other real property owned, held, or leased by it, for a housing project or projects designed to provide accommodations for ten (10) or more families or for any other investment or income producing purposes.
History of Section.
P.L. 1947, ch. 1866, § 1; G.L. 1956, § 27-11-1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11 - Investment in Real Estate › Section 27-11-2. - Power to erect, maintain, improve, and rent structures.

§ 27-11-2. Power to erect, maintain, improve, and rent structures.
A life insurance company may use existing structures, may erect or cause to be erected new structures, may use any combination of existing structures and new structures, and may maintain, repair, alter, demolish, and reconstruct those structures. “Structures” as used in this section includes apartment or tenement buildings, dwelling houses, and buildings or accommodations for retail stores, shops, offices, and other community services as the company may deem proper and suitable for the convenience of the tenants and occupants of those structures. The company may collect and receive rents or income from, and may manage, lease, mortgage, sell, and convey, the whole or any part of the property.
History of Section.
P.L. 1947, ch. 1866, § 1; G.L. 1956, § 27-11-2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11 - Investment in Real Estate › Section 27-11-3. - Maximum investment in real property.

§ 27-11-3. Maximum investment in real property.
No real property shall be purchased, leased, held, or improved under this chapter if the cost or value of the property, or the cost of the improvements on it, or all of them on the date of the purchase, lease, or acquisition, plus the book value on the date of all real property held by the company, exceeds twenty percent (20%) of its assets.
History of Section.
P.L. 1947, ch. 1866, § 1; G.L. 1956, § 27-11-3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-1. - Maximum investments in real property.

§ 27-11.1-1. Maximum investments in real property.
No domestic insurance company shall purchase, lease, hold, or improve any real property if the cost or value of the property, or the cost of the improvements on it, or all of them on the date of the purchase, lease, or acquisition, plus the book value on that date of all real property held by the company, exceeds twenty percent (20%) of its admitted assets.
History of Section.
P.L. 1984, ch. 170, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-2. - Maximum investments in mortgage loans.

§ 27-11.1-2. Maximum investments in mortgage loans.
A domestic insurance company may invest in mortgage loans; provided, that any mortgage loan or loans made or acquired by the domestic insurer on any one or all properties shall not exceed in the aggregate ten percent (10%) of its admitted assets.
History of Section.
P.L. 1984, ch. 170, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-3. - Maximum investments in investments currently reported in Schedule BA of the annual statement blank.

§ 27-11.1-3. Maximum investments in investments currently reported in Schedule BA of the annual statement blank.
A domestic insurance company may invest in those assets, which are currently reported in Schedule BA of its annual statement; provided, that those investments do not exceed in the aggregate ten percent (10%) of the company’s admitted assets. Those investments may include, but are not limited to, the following types of investments:
(1)
All loans on or investments in oil and gas production payments;
(2)
All transportation equipment;
(3)
Timber deeds;
(4)
Mineral rights carried as admitted assets;
(5)
Motor vehicle trust certificates; and
(6)
Any other class of admitted investment not clearly includible in other statement schedules.
History of Section.
P.L. 1984, ch. 170, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-4. - Maximum investments in affiliated or subsidiary companies.

§ 27-11.1-4. Maximum investments in affiliated or subsidiary companies.
A domestic insurance company may invest in securities of affiliated insurance companies or subsidiary insurance companies; provided, that any investment in securities of affiliated insurance companies or subsidiary insurance companies shall not exceed in the aggregate fifty percent (50%) of the domestic insurance company’s surplus. A domestic insurance company may invest in securities of affiliated noninsurance companies or subsidiary noninsurance companies in amounts which do not exceed the lesser of ten percent (10%) of the insurer’s assets or fifty percent (50%) of the insurer’s surplus as regards policyholders; provided, that after the investments, the insurer’s surplus as regards policyholders will be reasonable in relation to the insurer’s outstanding liabilities and adequate to its financial needs. In no event may the aggregate investment in securities of insurance or noninsurance affiliates or subsidiary companies exceed fifty percent (50%) of the domestic insurance company’s surplus.
History of Section.
P.L. 1984, ch. 170, § 1; P.L. 1993, ch. 180, § 32; P.L. 1994, ch. 404, § 9.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-5. - Investment in collateral loans.

§ 27-11.1-5. Investment in collateral loans.
A domestic insurance company may invest in collateral loans, provided, that the collateral loans invested in by the company shall not exceed in the aggregate ten percent (10%) of the domestic insurance company’s admitted assets.
History of Section.
P.L. 1984, ch. 170, § 1; P.L. 1991, ch. 348, § 6.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-6. - Applicability.

§ 27-11.1-6. Applicability.
This chapter shall apply to all domestic companies issued a certificate of compliance subsequent to May 8, 1984.
History of Section.
P.L. 1984, ch. 170, § 1; P.L. 2002, ch. 292, § 27.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-7. - Rules and regulations.

§ 27-11.1-7. Rules and regulations.
The insurance commissioner may promulgate reasonable rules and regulations to carry out the purposes of this chapter.
History of Section.
P.L. 1991, ch. 348, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.1 - Investments by Domestic Insurance Companies › Section 27-11.1-8. - Investment standards.

§ 27-11.1-8. Investment standards.
(a)
All domestic insurance companies and United States branches of alien insurers entered through this state shall protect the interests of insured by promoting insurer solvency and financial strength through the application of investment standards that facilitate a reasonable balance of the following objectives:
(1)
To preserve principal;
(2)
To assure reasonable diversification as to type of investment, issuer and credit quality; and
(3)
To allow insurers to allocate investments in a manner consistent with principles of prudent investment management to achieve an adequate return so that obligations to insured are adequately met and financial strength is sufficient to cover reasonably foreseeable contingencies.
(b)
All investments, including, but not limited to, those referred to in this chapter, shall be made and held in accordance with the objectives in subsection (a) subject to the limitations set forth in this chapter and in regulations promulgated pursuant to this chapter. Investments not conforming to this chapter and any regulations promulgated pursuant to this chapter shall not be considered admitted assets.
History of Section.
P.L. 1999, ch. 147, § 4.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.2 - Asset Valuation Law › Section 27-11.2-1. - Valuation of bonds.

§ 27-11.2-1. Valuation of bonds.
(a)
All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not in default as to principal or interest, be valued as follows:
(1)
If purchased at par, at the par value;
(2)
If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or in lieu of that method, according to an accepted method of valuation as is approved by the department; and
(3)
Purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage or express charges paid in the acquisition of the securities.
(b)
The department shall have full discretion in determining the method of calculating values according to the rules set forth in this section, but no method or valuation shall be inconsistent with any applicable valuation or method used by insurers in general, or any method then currently formulated or approved by the National Association of Insurance Commissioners or its successor organization.
History of Section.
P.L. 1992, ch. 445, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-11.2 - Asset Valuation Law › Section 27-11.2-2. - Valuation of other securities.

§ 27-11.2-2. Valuation of other securities.
(a)
Securities, other than those referred to in § 27-11.2-1, held by an insurer shall be valued, in the discretion of the department, at their market value, or at their appraised value, or at prices determined by it as representing their fair market value.
(b)
Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the department and in accordance with any method of valuation as it may approve.
(c)
Stock of a subsidiary corporation of an insurer shall not be valued at an amount in excess of its net value as based upon those assets only of the subsidiary which would be eligible under any provision of the general laws for investment of the funds of the insurer directly.
(d)
No valuations under this section shall be inconsistent with any applicable valuation or method then currently formulated or approved by the National Association of Insurance Commissioners or its successor organization.
History of Section.
P.L. 1992, ch. 445, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12 - Annual Reports of Insurance Companies › Section 27-12-2. - Publication of abstracts of reports.

§ 27-12-2. Publication of abstracts of reports.
The insurance commissioner shall annually publish for distribution an abstract of the statements filed in the commissioner’s office by all insurance companies as required by § 27-12-1. The expense of publishing and distributing those abstracts shall be paid by the insurance companies.
History of Section.
G.L. 1896, ch. 182, § 16; G.L. 1909, ch. 220, § 16; P.L. 1919, ch. 1754, § 3; G.L. 1923, ch. 256, § 16; G.L. 1938, ch. 151, § 16; P.L. 1947, ch. 1822, § 1; G.L. 1956, § 27-12-2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12 - Annual Reports of Insurance Companies › Section 27-12-3. - Examination of reports — Requiring additional statements.

§ 27-12-3. Examination of reports — Requiring additional statements.
(a)
The insurance commissioner shall annually examine the statements and returns required to be made by the companies and insurance producers, and if, in the commissioner’s opinion, any return is obscure, defective, or unsatisfactory he or she shall immediately require answers under oath, from the insurance producer or company by whom that obscure, defective, or unsatisfactory return has been made, to any interrogatories as he or she may deem necessary or proper to be answered in order to explain that return, and exhibit a full and accurate view of the business and resources of the company represented by the insurance producer.
(b)
In the event that the insurance commissioner for any reason does not examine the statements and returns required to be made by insurance companies as stated in subsection (a), the examination shall be deemed to have been made for all purposes upon the following conditions:
(1)
The examination has not been conducted for a period of two (2) consecutive calendar years;
(2)
The company has filed its financial statements for each of the two (2) years which financial statements have been examined by an independent certified public accountant and shall have been prepared in accordance with generally accepted accounting principles applicable to insurance companies for complete financial statements, including balance sheets and related statements of income, changes in surplus, and changes in financial position for each of the previous three (3) years;
(3)
The chief executive officer or the chief financial officer of the company shall affirm that the filed financial statements are complete and accurate; and
(4)
The insurance commissioner shall not reject any filing within sixty (60) days of the date of the filing as being incomplete, inaccurate, or requiring further information in order to provide a full and accurate review of the business and resources of the company.
History of Section.
G.L. 1896, ch. 182, § 19; G.L. 1909, ch. 220, § 19; G.L. 1923, ch. 256, § 19; G.L. 1938, ch. 151, § 19; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-12-3; P.L. 1988, ch. 70 § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12 - Annual Reports of Insurance Companies › Section 27-12-4. - Penalty for refusal to answer interrogatories.

§ 27-12-4. Penalty for refusal to answer interrogatories.
Every insurance producer who shall refuse or neglect to answer any interrogatories required under § 27-12-3 for the space of thirty (30) days, and continues to act as an insurance producer, shall be liable to the penalty prescribed in § 27-2.4-14.
History of Section.
G.L. 1896, ch. 182, § 20; G.L. 1909, ch. 220, § 20; G.L. 1923, ch. 256, § 20; G.L. 1938, ch. 151, § 20; G.L. 1956, § 27-12-4; P.L. 1989, ch. 542, § 78; P.L. 2002, ch. 292, § 28.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12 - Annual Reports of Insurance Companies › Section 27-12-5. - Abstracts printed for general assembly.

§ 27-12-5. Abstracts printed for general assembly.
The insurance commissioner shall make available, by electronic means, the annual reports filed by all insurance companies licensed in the state and provide these reports to members of the general assembly upon request.
History of Section.
G.L. 1896, ch. 182, § 21; G.L. 1909, ch. 220, § 21; G.L. 1923, ch. 256, § 21; G.L. 1938, ch. 150, § 23; G.L. 1938, ch. 151, § 21; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-12-5; P.L. 2015, ch. 82, § 12; P.L. 2015, ch. 105, § 12.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12 - Annual Reports of Insurance Companies › Section 27-12-6. - Rules and regulations.

§ 27-12-6. Rules and regulations.
The insurance commissioner shall have the authority to promulgate rules and regulations necessary to carry out the purposes of this chapter.
History of Section.
P.L. 1991, ch. 348, § 4.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.1 - National Association of Insurance Commissioners (Naic) Insurance Regulatory Information System Act › Section 27-12.1-1. - Applicability.

§ 27-12.1-1. Applicability.
The provisions of this chapter shall apply to all domestic, foreign, and alien insurers who are authorized to transact business in this state. “Insurer” means any legal entity subject to state insurance regulation.
History of Section.
P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.1 - National Association of Insurance Commissioners (Naic) Insurance Regulatory Information System Act › Section 27-12.1-2. - Filing requirements.

§ 27-12.1-2. Filing requirements.
(a)
Each domestic, foreign, and alien insurer authorized to transact insurance in this state shall annually, on or before March 1 of each year, file with the National Association of Insurance Commissioners a hard copy of its annual statement convention blank, including diskette, along with any additional filings prescribed by the commissioner for the preceding year. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page and the actuarial certification. Quarterly statements on hard copy and on diskette must also be filed with the National Association of Insurance Commissioners due on or before forty-five (45) days after the quarter ending. Any amendments and addendum to the annual or quarterly statement filing subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners.
(b)
Foreign insurers domiciled in a state which has a law substantially similar to subsection (a) of this section shall be deemed in compliance with this section.
(c)
Provisions of this chapter shall apply to corporations organized under chapters 19, 20, 20.1, 20.2 and 20.3 of this title.
History of Section.
P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14; P.L. 1996, ch. 188, § 6.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.1 - National Association of Insurance Commissioners (Naic) Insurance Regulatory Information System Act › Section 27-12.1-3. - Immunity.

§ 27-12.1-3. Immunity.
In the absence of actual malice, members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees, and task forces, their delegates, National Association of Insurance Commissioners employees, and all others charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of the annual and quarterly statement convention blanks shall be acting as agents of the commissioner under the authority of this chapter and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required pursuant to this chapter.
History of Section.
P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.1 - National Association of Insurance Commissioners (Naic) Insurance Regulatory Information System Act › Section 27-12.1-4. - Confidentiality.

§ 27-12.1-4. Confidentiality.
All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the department of business regulations by the National Association of Insurance Commissioners’ insurance regulatory information system are confidential and may not be disclosed by the department.
History of Section.
P.L. 1991, ch. 257, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.1 - National Association of Insurance Commissioners (Naic) Insurance Regulatory Information System Act › Section 27-12.1-5. - Revocation of certificate of authority.

§ 27-12.1-5. Revocation of certificate of authority.
The commissioner may suspend, revoke, or refuse to renew the certificate of authority of any insurer failing to file its annual or quarterly statement when due or within any extension of time which the commissioner, for good cause, may have granted. The commissioner may exempt diskette filings from domestic insurers that operate only in Rhode Island.
History of Section.
P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-1. - Repealed.

§ 27-12.2-1. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-2. - Repealed.

§ 27-12.2-2. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; P.L. 1999, ch. 22, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-3. - Repealed.

§ 27-12.2-3. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-4. - Repealed.

§ 27-12.2-4. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-5. - Repealed.

§ 27-12.2-5. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-6. - Repealed.

§ 27-12.2-6. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-7. - Repealed.

§ 27-12.2-7. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-8. - Repealed.

§ 27-12.2-8. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-9. - Repealed.

§ 27-12.2-9. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.2 - Administrative Supervision Act [REPEALED.] › Section 27-12.2-10. - Repealed.

§ 27-12.2-10. Repealed.
History of Section.
P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.3 - Property and Casualty Actuarial Opinion Law › Section 27-12.3-1. - Title.

§ 27-12.3-1. Title.
This act shall be known as the “Property and Casualty Actuarial Opinion Law.”
History of Section.
P.L. 2008, ch. 28, § 1; P.L. 2008, ch. 31, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.3 - Property and Casualty Actuarial Opinion Law › Section 27-12.3-2. - Actuarial opinion of reserves and supporting documentation.

§ 27-12.3-2. Actuarial opinion of reserves and supporting documentation.
(a) Statement of actuarial opinion.
Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled “Statement of Actuarial Opinion.” This opinion shall be filed in accordance with the appropriate national association of insurance commissioners property and casualty annual statement instructions.
(b) Actuarial opinion summary.
(1)
Every property and casualty insurance company domiciled in this state that is required to submit a statement of actuarial opinion shall annually submit an actuarial opinion summary, written by the company’s appointed actuary. This actuarial opinion summary shall be filed in accordance with the appropriate national association of insurance commissioner’s property and casualty annual statement instructions and shall be considered as a document supporting the actuarial opinion required in subsection (a).
(2)
A company licensed but not domiciled in this state shall provide the actuarial opinion summary upon request.
(c) Actuarial report and work papers.
(1)
An actuarial report and underlying work papers as required by the appropriate national association of insurance commissioners property and casualty annual statement instructions shall be prepared to support each actuarial opinion.
(2)
If the insurance company fails to provide a supporting actuarial report and/or work papers at the request of the commissioner or the commissioner determines that the supporting actuarial report or work papers provided by the insurance company is otherwise unacceptable to the commissioner, the commissioner may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting actuarial report or work papers.
(d)
The appointed actuary shall not be liable for damages to any person (other than the insurance company and the commissioner) for any act, error, omission, decision or conduct with respect to the actuary’s opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary.
History of Section.
P.L. 2008, ch. 28, § 1; P.L. 2008, ch. 31, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-12.3 - Property and Casualty Actuarial Opinion Law › Section 27-12.3-3. - Confidentiality.

§ 27-12.3-3. Confidentiality.
(a)
The statement of actuarial opinion shall be provided with the annual statement in accordance with the appropriate national association of insurance commissioners property and casualty annual statement instructions and shall be treated as a public document.
(b)(1)
Documents, materials or other information in the possession or control of the department of insurance that are considered an actuarial report, work papers or actuarial opinion summary provided in support of the opinion, and any other material provided by the company to the commissioner in connection with the actuarial report, work papers or actuarial opinion summary, shall be confidential by law and privileged, shall not be subject to the access to public records act Rhode Island general laws § 38-2-1 et seq., shall not be subject to subpoena, and shall not be subject to discovery or admissible in evidence in any private civil action.
(2)
This provision shall not be construed to limit the commissioner’s authority to release the documents to the actuarial board for counseling and discipline (ABCD) so long as the material is required for the purpose of professional disciplinary proceedings and that the ABCD establishes procedures satisfactory to the commissioner for preserving the confidentiality of the documents, nor shall this section be construed to limit the commissioner’s authority to use the documents, materials or other information in furtherance of any regulatory or legal action brought as part of the commissioner’s official duties.
(c)
Neither the commissioner nor any person who received documents, materials or other information while acting under the authority of the commissioner shall be permitted or required to testify in any private civil action concerning any confidential documents, materials or information subject to subsection (b).
(d)
In order to assist in the performance of the commissioner’s duties, the commissioner:
(1)
May share documents, materials or other information, including the confidential and privileged documents, materials or information subject to subsection (b) with other state, federal and international regulatory agencies, with the national association of insurance commissioners and its affiliates and subsidiaries, and with state, federal and international law enforcement authorities, provided that the recipient agrees to maintain the confidentiality and privileged status of the document, material or other information and has the legal authority to maintain confidentiality:
(e)
No waiver of any applicable privilege or claim of confidentiality in the documents, materials or information shall occur as a result of disclosure to the commissioner under this section or as a result of sharing as authorized in subsection (d).
History of Section.
P.L. 2008, ch. 28, § 1; P.L. 2008, ch. 31, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-13 - Revocation and Suspension of License › Section 27-13-1. - Examination into affairs of company.

§ 27-13-1. Examination into affairs of company.
The insurance commissioner, either personally or by a committee appointed by him or her consisting of one or more persons not directors, officers, or agents of any life, fire, marine, fire and marine, or casualty insurance company, doing business in this state, may at any time examine into the affairs of any life, fire, marine, fire and marine, casualty, or other insurance company, incorporated by or doing business in this state. The officers or agents of any insurance company shall exhibit its books to the insurance commissioner or committee, and facilitate its examination, and the insurance commissioner or the committee may examine, under oath, the officers and agents of any insurance company in relation to its affairs. The insurance commissioner shall, if he or she deems it advisable, publish the result of the investigation in one or more newspapers published in the state. The total cost of those examinations shall be borne by the examined companies and shall be one hundred fifty percent (150%) of the total salaries paid to the examining personnel of the banking and insurance division engaged in those examinations less any salary reimbursements and shall be paid to the insurance commissioner to and for the use of the state. That assessment shall be in addition to any taxes and fees payable to the state.
History of Section.
G.L. 1896, ch. 182, § 23; G.L. 1909, ch. 220, § 23; G.L. 1923, ch. 256, § 23; P.L. 1936, ch. 2343, § 1; G.L. 1938, ch. 151, § 23; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-13-1; P.L. 1960, ch. 71, art. 1, § 7; P.L. 1991, ch. 348, § 8.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-13.1 - Examinations › Section 27-13.1-1. - Purpose.

§ 27-13.1-1. Purpose.
The purpose of this chapter is to provide an effective and efficient system for examining the activities, operations, financial condition, and affairs of all persons transacting the business of insurance in this state and all persons otherwise subject to the jurisdiction of the director. The provisions of this chapter are intended to enable the director to adopt a flexible system of examinations that directs resources as may be deemed appropriate and necessary for the administration of the insurance and insurance related laws of this state.
History of Section.
P.L. 1992, ch. 445, § 1; P.L. 2009, ch. 301, § 1; P.L. 2009, ch. 302, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-13.1 - Examinations › Section 27-13.1-2. - Definitions.

§ 27-13.1-2. Definitions.
The following terms, as used in this chapter, shall have the respective meanings hereinafter set forth:
(1)
“Company” means a person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who may otherwise be subject to the administrative, regulatory or taxing authority of the director;
(2)
“Department” means the department of business regulation;
(3)
“Director” means the director of the department of business regulation of this state or his or her designee;
(4)
“Examiner” means an individual or firm having been authorized by the director to conduct an examination or financial analysis under this chapter;
(5)
“Insurer” means any insurance company doing business in this state; and
(6)
“Person” means an individual, aggregation of individuals, trust, association, partnership or corporation, or any affiliate thereof.
History of Section.
P.L. 1992, ch. 445, § 1; P.L. 2009, ch. 301, § 1; P.L. 2009, ch. 302, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-13.1 - Examinations › Section 27-13.1-3. - Authority, scope, and scheduling of examinations.

§ 27-13.1-3. Authority, scope, and scheduling of examinations.
(a)
The director or any of his or her examiners may conduct an examination under this chapter of any company as often as the director in his or her sole discretion deems appropriate, but shall, at a minimum, conduct an examination of every insurer licensed in this state not less frequently than once every five (5) years. In scheduling and determining the nature, scope, and frequency of the examinations, the director shall consider such matters as the results of financial statement analyses and ratios, changes in management or ownership, actuarial opinions, reports of independent certified public accountants, and other criteria as set forth in the Financial Condition Examiners’ Handbook adopted by the National Association of Insurance Commissioners and in effect when the director exercises discretion under this section.
(b)
For purposes of completing an examination of a company under this chapter, the director may examine or investigate any person, or the business of any person, in so far as the examination or investigation is, in the sole discretion of the director, necessary or material to the examination of the company.
(c)
In lieu of an examination under this chapter of a foreign or alien insurer licensed in this state, the director may accept an examination report on the company as prepared by the insurance department for the company’s state of domicile or port of entry state only if:
(1)
The insurance department was at the time of the examination accredited under the National Association of Insurance Commissioners’ financial regulation standards and accreditation program; or
(2)
The examination is performed under the supervision of an accredited insurance department or with the participation of one or more examiners who are employed by an accredited state insurance department and who, after a review of the examination work papers and report, state under oath that the examination was performed in a manner consistent with the standards and procedures required by their insurance department.
History of Section.
P.L. 1992, ch. 445, § 1; P.L. 2002, ch. 292, § 29; P.L. 2009, ch. 301, § 1; P.L. 2009, ch. 302, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-13.1 - Examinations › Section 27-13.1-3.1. - Authority, scope and scheduling of financial analysis.

§ 27-13.1-3.1. Authority, scope and scheduling of financial analysis.
(a)
The director and any of his or her examiners may conduct annual and quarterly financial analysis under this chapter of each company licensed in this state. All authority granted in conducting an examination under this chapter shall apply to the conduct of a financial analysis of a company except that a warrant is not required and the financial analysis will be conducted based on guidelines and procedures set forth in the Financial Analysis Handbook as adopted by the National Association of Insurance Commissioners. The director may also employ any other guidelines or procedures as the director may deem appropriate.
(b)
The financial analysis of a company is a continuous process utilized primarily for monitoring the financial strength of a company and therefore a final report is not required, however, where there are significant financial concerns a financial examination under this chapter will be conducted and an examination report will be issued in accordance with § 27-13.1-5.
(c)
All correspondence, emails, memorandums and other documentation used in the financial analysis process are considered to be confidential financial analysis workpapers in accordance with § 27-13.1-5(f).
(d)
The total cost of the financial analysis shall be borne by the company as set forth in § 27-13.1-7.
History of Section.
P.L. 2009, ch. 301, § 2; P.L. 2009, ch. 302, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-13.1 - Examinations › Section 27-13.1-6. - Conflict of interest.

§ 27-13.1-6. Conflict of interest.
(a)
An examiner may not be appointed by the director if the examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter. This section shall not be construed to automatically preclude an examiner from being:
(1)
A policyholder or claimant under an insurance policy;
(2)
A grantor of a mortgage or similar instrument on the examiner’s residence to a regulated entity if done under customary terms and in the ordinary course of business;
(3)
An investment owner in shares of regulated diversified investment companies; or
(4)
A settlor or beneficiary of a “blind trust” into which any otherwise impermissible holdings have been placed.
(b)
Notwithstanding the requirements of this section, the director may retain from time to time on an individual basis, qualified actuaries, certified public accountants, or other similar individuals who are independently practicing their professions, even though these persons may from time to time be similarly employed or retained by persons subject to examination under this chapter.
History of Section.
P.L. 1992, ch. 445, § 1; P.L. 2009, ch. 301, § 1; P.L. 2009, ch. 302, § 1.