reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-43 - Captive Insurance Companies › Section 27-43-7. - Reinsurance.

§ 27-43-7. Reinsurance.
(a)
Any captive insurance company may provide reinsurance on risks ceded by any other insurer, provided, that the captive insurance company and the insurer comply with the requirements established by regulations promulgated pursuant to this chapter.
(b)
Any captive insurance company may reinsure its risks and take credit for reserves on risk or on portions of risk ceded to reinsurers as provided in chapter 1.1 of this title. Subsidiary captive insurance companies may take credit for reserves on risks or portions of risk ceded to reinsurers not complying with chapter 1.1 of this title only after obtaining the prior approval of the director. The director may require any other documents, financial information, or other evidence that the reinsurer will be able to provide adequate security for its financial obligations. The commissioner may deny authorization or impose any limitations on the activities of a reinsurer that, in his or her judgment, are necessary and proper to provide adequate security for the ceding captive insurance company and for the protection and consequent benefit of the public at large.
(c)
For the purposes of this chapter, the insurance by a captive insurance company of any workers’ compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.
History of Section.
P.L. 1988, ch. 76, § 1; P.L. 1996, ch. 232, § 1; P.L. 1996, ch. 256, § 1; P.L. 2001, ch. 122, § 12; P.L. 2004, ch. 6, § 13.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-43 - Captive Insurance Companies › Section 27-43-8. - Exemption from chapter 34 of this title.

§ 27-43-8. Exemption from chapter 34 of this title.
No captive insurance company shall be required to join or to contribute financially to any plan, pool, association, or guaranty or insolvency fund in this state including, but not limited to, the fund established by chapter 34 of this title, nor shall any captive insurance company, or its insured, or its parent or any affiliated company, or any member organization of its association, receive any benefit from the plan, pool, association, or guaranty or insolvency funds for claims arising out of the operations of the captive insurance company.
History of Section.
P.L. 1988, ch. 76, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-43 - Captive Insurance Companies › Section 27-43-10. - Rules and regulations.

§ 27-43-10. Rules and regulations.
The commissioner may establish and amend the rules relating to captive insurance companies that are necessary to enable the commissioner to carry out the provisions of this chapter.
History of Section.
P.L. 1988, ch. 76, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-43 - Captive Insurance Companies › Section 27-43-11. - Laws applicable.

§ 27-43-11. Laws applicable.
No provisions of this title, other than those contained in this chapter or contained in specific references contained in this chapter, shall apply to captive insurance companies. Insofar as the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this chapter shall be controlling.
History of Section.
P.L. 1988, ch. 76, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-43 - Captive Insurance Companies › Section 27-43-12. - Limitations on dividends.

§ 27-43-12. Limitations on dividends.
(a)
An “extraordinary dividend or distribution” is defined as cash or other property whose fair market value together with other dividends or distributions made within the preceding twelve (12) months exceeds the lesser of: (1) Ten percent (10%) of the captive insurance company’s surplus as of the preceding December 31; or (2) Net income, not including realized capital gains for the twelve (12) months ending the preceding December 31, excluding pro rata distribution of any class of the captive insurance company’s own securities.
(b)
Each captive insurance company may carry forward the net income from the preceding two (2) years (as calculated in subsection (a) of this section for each year) less any dividends paid in the two (2) preceding years in determining whether the dividend or distribution is extraordinary.
History of Section.
P.L. 1996, ch. 232, § 1; P.L. 1996, ch. 256, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-43 - Captive Insurance Companies › Section 27-43-13. - Captive insurance regulatory and supervision fund.

§ 27-43-13. Captive insurance regulatory and supervision fund.
(a)(1)
There is created a fund to be known as the captive insurance regulatory and supervision fund for the purpose of providing the financial means for the commissioner to administrate this chapter and for reasonable expenses incurred in promoting the captive insurance industry in Rhode Island. An appropriation of ten percent (10%) of the premiums taxed under § 27-43-9, and all fees and assessments received by the department pursuant to the administration of this chapter with regards to the captive insurance industry shall be credited to this fund. Of this amount, not more than two percent (2%) of the premium tax under § 27-43-9 may be transferred to the Rhode Island economic development corporation, with approval of the director of administration, for promotional expenses.
(2)
All payments from the captive insurance regulatory and supervision fund for the maintenance of staff and associated expenses including contractual services as necessary, shall be disbursed from the state treasury only upon written request issued by the commissioner, after receipt of proper documentation regarding services rendered and expenses incurred.
(b)
At the end of each fiscal year, that portion of the balance in the captive insurance regulatory and supervision fund that exceeds one hundred thousand dollars ($100,000), shall be transferred to the general fund.
(c)
The commissioner may anticipate receipts for the captive insurance regulatory and supervision fund and issue a written request for payments based on it.
History of Section.
P.L. 1996, ch. 232, § 1; P.L. 1996, ch. 256, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-1. - Purposes.

§ 27-44-1. Purposes.
The purposes of this chapter are:
(1)
To prohibit price fixing agreements and other anticompetitive behavior by insurers;
(2)
To protect policyholders and the public against the adverse effects of excessive, inadequate, or unfairly discriminatory rates;
(3)
To promote price competition among insurers to provide rates that are responsive to competitive market conditions;
(4)
To provide regulatory assurance that price competition exists;
(5)
To improve availability, fairness, and reliability of insurance;
(6)
To authorize essential cooperative action among insurers in the ratemaking process and to regulate that activity to prevent practices that tend to substantially lessen competition or create a monopoly;
(7)
To encourage the most efficient and economic marketing practices; and
(8)
To foster competitive insurance markets.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-2. - Definitions.

§ 27-44-2. Definitions.
As used in this chapter:
(1)
“Advisory organization” means any person or organization other than a rating organization that assists insurers in the authorized activities enumerated in § 27-44-11, except no advisory organization may make any filings on behalf of insurers.
(2)
“Competitive market” means a market that has not been found to be noncompetitive pursuant to § 27-44-4.
(3)
“Director” means the director of department of business regulation.
(4)
“Market” means the interaction between buyers and sellers consisting of a product market component. A product market component consists of identical or readily substitutable products including, but not limited to, consideration of coverage, policy terms, rate classifications, and underwriting. A geographic market component is a geographical area in which buyers have a reasonable degree of access to the insurance product through sales outlets and other marketing mechanisms. Determination of a geographic market component shall consider existing marketing patterns.
(5)
“Noncompetitive market” means a market for which there is a ruling in effect pursuant to § 27-44-4 that a reasonable degree of competition does not exist.
(6)
“Pool” means a voluntary arrangement, established on an on-going basis, pursuant to which two (2) or more insurers participate in the sharing of risks on a predetermined basis. The pool may operate through an association, syndicate, or other pooling agreement.
(7)
“Rating organization” means any entity that either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers and that assists insurers in ratemaking. Two (2) or more insurers having a common ownership or operating in this state under common management or control constitute a single insurer for the purpose of this definition.
(8)
“Residual market mechanism” means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance that may be afforded applicants who are unable to obtain insurance through ordinary methods.
(9)
“Supplementary rate information” includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, and any other similar information needed to determine the applicable rate in effect or to be in effect.
(10)
“Supporting information” means: (i) The experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer; (ii) The interpretation of any statistical data relied upon by the filer; and (iii) Description of methods used in making the rates, and other similar information required by the director to be filed.
History of Section.
P.L. 1988, ch. 635, § 1; P.L. 2023, ch. 395, art. 1, § 15, effective December 31, 2023.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-3. - Scope of application.

§ 27-44-3. Scope of application.
(a)
This chapter applies to all kinds of insurance written on risks in this state by any insurers authorized to do business in this state, except:
(1)
Life insurance;
(2)
Annuities;
(3)
Accident and health insurance;
(4)
Ocean marine insurance;
(5)
Reinsurance;
(6)
Medical malpractice insurance;
(7)
Workers’ compensation insurance; and
(8)
Insurance through residual market mechanisms.
(b)
The classes of insurance described in subsection (a) of this section shall be subject to all applicable provisions of law governing rates, including, but not limited to chapters 6, 7.1, 9, 19, and 20 of this title, and chapter 62 of title 42.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-4. - Competitive market.

§ 27-44-4. Competitive market.
(a)
A competitive market is presumed to exist unless the director, after a hearing, determines that a reasonable degree of competition does not exist in the market and issues a ruling to that effect. The ruling shall remain in effect until the time the director deems that a competitive market exists, and issues a ruling to that effect. The director may, without a hearing, make a ruling that a competitive market exists based upon a departmental analysis of the market. Notwithstanding the foregoing, any insurer may request a hearing before the director to present evidence that competition exists in the affected market after a ruling of noncompetition has been in effect for at least one year.
(b)
In determining whether a reasonable degree of competition exists, the director shall consider relevant tests of workable competition pertaining to market structure, market performance, and market conduct, and the practical opportunities available to consumers in the market to acquire pricing and other consumer information and to compare and obtain insurance from competing insurers. The tests may include, but are not limited to, the following: size and number of firms actively engaged in the market; market shares and changes in the market shares of firms; ease of entry and latent competition of insurers capable of easy entry and exit from a given market; underwriting restrictions; whether profitability for companies generally in the market is unreasonably high; availability of consumer information concerning the product and sales outlets or other sales mechanisms; existence of a degree of rate differential within a class of business; and efforts of insurers to provide consumer information. The determination of competition involves the interaction of the various tests, and the weight given to specific tests depends upon the particular situation and pattern of tests results.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-4.1. - Approval of policies.

§ 27-44-4.1. Approval of policies.
(a)
Every insurance company and every rating/advisory organization issuing policies covering casualty, liability, and fire and marine insurance provided for in this chapter shall file with the director a copy of the form of the policies the company or organization is 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, § 3; P.L. 2023, ch. 395, art. 1, § 15, effective December 31, 2023.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-6.1. - Costs.

§ 27-44-6.1. 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, § 5.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-7. - Disapproval of rates.

§ 27-44-7. Disapproval of rates.
(a) Timing of disapproval.
A rate in a competitive market may be disapproved any time prior to the proposed effective date or, if supporting information is required pursuant to § 27-44-6(a), at any time within thirty (30) days after receipt of the information. An existing rate may be disapproved only after a hearing to determine continued compliance with the rate standards of this chapter.
(b) Basis of disapproval.
The director shall disapprove a rate for use in a competitive market if the director finds that the rate is excessive, inadequate, or unfairly discriminatory, or violates the standards of § 27-44-5. The director’s order shall specify in what respects the rate fails to meet the rate standards.
(c) Disapproval procedures; order.
(1)
If the director determines that a reasonable degree of competition does not exist in a market in accordance with § 27-44-4, he or she may review and suspend existing rates in accordance with the procedures established in the other provisions of law that govern rates, including, but not limited to, chapters 6 and 9 of this title.
(2)
If the director disapproves an existing rate in a competitive market, the director shall issue an order specifying in what respects it fails to meet the rate standards and stating when, within a reasonable period after this, the rate shall be discontinued for any policy issued or renewed after a date specified in the order. The order shall be issued within thirty (30) days after the close of the hearing or within any reasonable time extension the director may fix. The order may include a provision for premium adjustment for the period after the effective date of the order for policies in effect on that date.
(d) Review of ratings.
Every insurer or rating organization shall provide within this state reasonable means by which any person aggrieved by the application of its rating system may upon written request review the manner in which the rating system has been applied in connection with the insurance afforded or offered. If the insurer or rating organization fails to grant or reject the request within thirty (30) days, the applicant may proceed in the same manner as if the application had been rejected. Any party affected by the action of an insurer or rating organization on the request may, within thirty (30) days after written notice of the action, appeal to the director, who, after a hearing held upon not less than ten (10) days’ written notice to the appellant and to the insurer or rating organization, may affirm, modify, or reverse the action.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-8. - Licensing of rating organizations.

§ 27-44-8. Licensing of rating organizations.
(a) License required.
No rating organization shall provide any service relating to the rates of any insurance subject to this chapter, and no insurer shall utilize the services of the organization for these purposes unless the organization has obtained a license under subsection (c).
(b) Availability of services.
No rating organization shall refuse to supply any services for which it is licensed in this state to any insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services.
(c) Licensing.
(1) Application.
A rating organization applying for a license shall include with its application:
(i)
A copy of its constitution, charter, articles of organization, agreement, association, or incorporation, and a copy of its bylaws, plan of operation, and any other rules or regulations governing the conduct of its business;
(ii)
A list of its members and subscribers;
(iii)
The name and address of one or more residents of this state upon whom notices, process affecting it, or orders of the director may be served;
(iv)
A statement showing its technical qualifications for acting in the capacity for which it seeks a license; and
(v)
Any other relevant information and documents that the director may require.
(2) Change of circumstances.
Every organization that has applied for a license shall notify the director of every material change in the facts or in the documents on which its application was based. Any amendment to a document filed under this section shall be filed with the director not less than thirty (30) days after it becomes effective.
(3) Granting of license; fee.
If the director finds that the applicant and the natural persons through whom it acts are competent, trustworthy, and technically qualified to provide the services proposed, and that all requirements of the law are met, he or she shall issue a license specifying the authorized activity of the applicant. The fee for the license shall be three hundred dollars ($300). The director shall not issue a license if the proposed activity would tend to create a monopoly or to substantially lessen the competition in any market.
(4) Duration.
Licenses issued pursuant to this section shall remain in effect for three (3) years unless sooner suspended or revoked. All in force licenses shall be transitioned into a three-year (3) licensing cycle beginning June 1, 2006, to expire every three (3) years thereafter. License fees may be prorated for the initial renewal period as deemed appropriate by the director. The director may, at any time, after a hearing, revoke or suspend the license of a rating organization that does not comply with the requirements and standards of this chapter.
History of Section.
P.L. 1988, ch. 635, § 1; P.L. 2001, ch. 122, § 13; P.L. 2005, ch. 174, § 6.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-9. - Licensing of advisory organizations.

§ 27-44-9. Licensing of advisory organizations.
(a) License required.
No advisory organization shall provide any service relating to the rates of any insurer subject to this chapter, and no insurer shall utilize the services of the organization for those purposes unless the organization has become licensed under subsection (d).
(b) Authorized activities.
A licensed advisory organization may perform any of the authorized activities enumerated in § 27-44-11 except no advisory organization may make any filings on behalf of any insurer.
(c) Availability of services.
No advisory organization shall refuse to supply any services for which it is licensed in this state to any insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services.
(d) License.
An advisory organization shall submit at the time of application:
(1)
A copy of its constitution, articles of association or incorporation, and the bylaws, plan of operation, or other rules and regulations governing its activities;
(2)
A list of its members and subscribers;
(3)
The name and address of one or more residents of this state upon whom notices, process affecting it, or orders of the director may be served; and
(4)
Any other relevant information and documents that the director may require.
(e) Change of circumstances.
Every registered advisory organization shall promptly notify the director of every material change in the facts or in the documents upon which its registration was based.
(f) License; fee.
If the director finds that the applicant and the natural persons through whom it acts are competent, trustworthy, and technically qualified to provide the services proposed, and that all requirements of law are met, he or she shall issue a license specifying the authorized activity of the applicant. The annual fee for the license shall be one hundred dollars ($100). The director shall not issue a license if the proposed activity would tend to create a monopoly or to substantially lessen competition.
(g) Duration.
Licenses issued pursuant to this section shall remain in effect for three (3) years unless sooner suspended or revoked. All in force licenses shall be transitioned into a three-year (3) licensing cycle beginning June 1, 2006, to expire every three (3) years thereafter. License fees may be prorated for the initial renewal period as deemed appropriate by the director. The director, after a hearing, may revoke or suspend the license of an advisory organization that does not comply with the requirements and standards of this chapter.
History of Section.
P.L. 1988, ch. 635, § 1; P.L. 2001, ch. 122, § 13; P.L. 2008, ch. 371, § 5.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-10. - Insurers and rating and advisory organizations — Prohibited activity.

§ 27-44-10. Insurers and rating and advisory organizations — Prohibited activity.
(a)
No insurer or rating or advisory organization shall attempt to monopolize or combine or conspire with any other person to monopolize an insurance market.
(b)(1)
No insurer shall agree with any other insurer or with any rating or advisory organization to adhere to or to use any rate, rating plan, rating schedule, rating rule, policy or bond forms, rate classifications, rate territories, underwriting rules, surveys, inspections, or similar materials, except as needed to develop statistical plans permitted by this chapter. Notwithstanding the foregoing, nothing contained in this chapter shall apply to any pools.
(2)
The fact that two (2) or more insurers, whether or not members or subscribers of a rating organization, use consistently or intermittently, the same rates, rating plans, rating schedules, rating rules, policy or bond forms, rate classifications, rate territories, underwriting rules, surveys or inspections, or similar materials is not sufficient in itself to support a finding that an agreement exists, and may be used only for the purpose of supplementing or explaining other evidence of the existence of an agreement.
(3)
Two (2) or more insurers having a common ownership or operating in this state under common management or control may act in concert between or among themselves with respect to any matters pertaining to those activities authorized in this chapter as if they constituted a single insurer.
(c)
No insurer or rating or advisory organization shall make any arrangement with any other insurer, rating or advisory organization, or other person that has the purpose or effect of restraining trade unreasonably or of substantially lessening competition in the business of insurance.
(d)
No advisory organization shall engage in any unfair or unreasonable practice. If after a hearing the director finds that any activity or practice of an advisory organization is unfair, unreasonable, or inconsistent with the requirements of this chapter, the director shall specify the finding in an order requiring the discontinuance of the activity or practice.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-11. - Rating organizations — Permitted activity.

§ 27-44-11. Rating organizations — Permitted activity.
Any rating organization, in addition to other activities not prohibited, is authorized to:
(1)
Develop statistical plans including territorial and class definitions;
(2)
Collect statistical data from members, subscribers, or any other source;
(3)
Prepare, distribute, and file rates and supplementary rate information;
(4)
Distribute information that is filed with the director and open to public inspection;
(5)
Conduct research and on-site inspections in order to prepare classifications of public fire defenses;
(6)
Consult with public officials regarding public fire protection as it would affect members, subscribers, and others;
(7)
Conduct research and collect statistics in order to discover, identify, and classify information relating to causes or prevention of losses;
(8)
Prepare and file policy forms and endorsements and consult with members, subscribers, and others relative to their use and application;
(9)
Conduct research and on-site inspections for the purpose of providing risk information relating to individual structures;
(10)
Collect, compile, and distribute past and current prices of individual insurers if that information is made available to the general public; and
(11)
Furnish any other services related to those enumerated in this section.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-12. - Rating organization — Public information.

§ 27-44-12. Rating organization — Public information.
Every rating organization shall file any amendment or modification made to supplementary rate information with the director within fifteen (15) days after it is distributed to members, subscribers, or others.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-13. - Records and reports.

§ 27-44-13. Records and reports.
The director may adopt reasonable rules for use by companies to record and report to the director their loss and expense experience and any other information determined by the director to be necessary or appropriate for the administration of this chapter and the effectuation of its purposes. No insurer shall be required to record or report its experience on a classification basis inconsistent with its own rating system. The director may designate one or more rating or advisory organizations to assist him or her in gathering, compiling, and reporting the information.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-14. - Examination.

§ 27-44-14. Examination.
(a)
The director may examine any insurer, pool, rating organization, or advisory organization as he or she deems necessary to ascertain compliance with this chapter.
(b)
Every insurer, pool, rating organization, and advisory organization shall maintain reasonable records of the type and kind reasonably adapted to its method of operation containing its experience or the experience of its members including the data, statistics, or information collected or used by it in its activities. These records shall be available at all reasonable times to enable the director to determine compliance with the provisions of this chapter.
(c)
The total cost of an examination made pursuant to this section shall be paid by the examined party, and shall be one hundred fifty percent (150%) of the total salaries paid for the examining personnel of the insurance division engaged in the examinations less any salary reimbursements, and shall be paid to the director to and for the use of the state. The assessment shall be in addition to any taxes and fees otherwise payable to the state. The officers, managers, agents, and employees of the rating organization, advisory organization, or group, association, or other organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation.
(d)
In lieu of the examination the director may accept the report of an examination made by the insurance supervisory official of another state pursuant to the laws of the state.
(e) Reports on examinations — Hearing and filing.
The director shall prepare a report on the examination and shall, within a reasonable time following completion of the report, furnish each rating organization with a copy of this report. The rating organization shall, within thirty (30) days after receipt of a copy of the report, request the director for a hearing on the report, which shall be held by the commissioner upon ten (10) days’ written notice to the rating organization. Following the hearing the director may affirm, modify, or withdraw the report. The report, or modification of it, shall then be filed in the office of the director as a public record, or if no hearing is requested within the period of thirty (30) days, the report shall be filed at the expiration of that period.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-15. - Exemptions.

§ 27-44-15. Exemptions.
The director may, by his or her own initiative or upon request of any person, by rule, exempt any market from any or all of the provisions of this chapter, if and to the extent that the director finds an exemption necessary to achieve the purpose of this chapter.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-16. - Assessment for review pursuant to title 42, chapter 14.

§ 27-44-16. Assessment for review pursuant to title 42, chapter 14.
The director may appoint an actuary to assist the director in the performance of his or her duties pursuant to this chapter. The actuary shall serve under the direction of the director and shall be removable at the pleasure of the director. Insurance companies doing business in this state under the provisions of this chapter shall be assessed pursuant to § 42-14-10.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-17. - Noncompetitive markets — Nonapplicability of chapter.

§ 27-44-17. Noncompetitive markets — Nonapplicability of chapter.
Any market deemed to be a noncompetitive market, and any market described in § 27-44-3, shall have rates established for it pursuant to the standards and procedures as applicable in chapters 6, 7.1, 9, 19, and 20 of this title, and the other sections of law govern the rates of different classes of insurance. Nothing contained in this section shall be construed to limit the applicability of any other relevant section of law.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-18. - Penalties.

§ 27-44-18. Penalties.
(a)
The director may, if he or she finds that any person or organization has violated any provision of this chapter, impose a penalty of not more than one thousand dollars ($1,000) for each violation, but if the director finds the violation to be willful, he or she may impose a penalty of not more than fifty thousand dollars ($50,000) for each violation. The penalties may be in addition to any other penalty provided by law.
(b)
For the purposes of this section, any insurer using a rate for which the insurer has failed to file the rate, supplementary rate information, or supporting information, as required by this chapter or by any rules and regulations that the director may promulgate, has committed a separate violation for each day that failure continues.
(c)
The director may suspend or revoke the license of any rating organization or insurer that fails to comply with an order of the director within the time limited by the order, or any extension of the order that the director may grant.
(d)
The director may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him or her, unless he or she modifies or rescinds the suspension, or until the order upon which the suspension is based is modified, rescinded, or reversed.
(e)
No penalty shall be imposed and no license shall be suspended or revoked except upon a written order of the director, stating his or her findings, made after a hearing.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-19. - Regulations.

§ 27-44-19. Regulations.
The director may promulgate any reasonable regulations that are necessary and proper to enforce this chapter and to require any information that the director finds necessary.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-20. - Hearings.

§ 27-44-20. Hearings.
Any hearing conducted pursuant to this chapter shall be held in accordance with the Administrative Procedures Act (“APA”), chapter 35 of title 42, to the extent that the APA does not conflict with any provision of law contained in this chapter.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-21. - Judicial review.

§ 27-44-21. Judicial review.
(a)
Any order, regulation, or decision of the director made after a hearing shall be subject to judicial review in accordance with the Administrative Procedures Act, chapter 35 of title 42.
(b)
Upon the request of any insurer or organization to which the director has directed an order made without a hearing, the director shall grant a hearing within thirty (30) days of the request. Within thirty (30) days after the hearing, the director shall affirm, reverse, or modify the previous action, specifying the reasons for it.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating › Section 27-44-22. - Severability.

§ 27-44-22. Severability.
If any provisions of this chapter, or the application of the provisions to any person or circumstances, are held invalid, the remainder of the chapter, and the application of the provisions to persons or circumstances other than those to which it is held invalid, shall not be affected by that invalidity.
History of Section.
P.L. 1988, ch. 635, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-1. - Purpose.

§ 27-46-1. Purpose.
The purpose of this chapter is to regulate the formation and/or operation of risk retention groups and purchasing groups in this state formed pursuant to the provisions of 15 U.S.C. § 3901 et seq., to the extent permitted by that law.
History of Section.
P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-3. - Risk retention groups chartered in this state.

§ 27-46-3. Risk retention groups chartered in this state.
(a)
A risk retention group shall be, pursuant to the provisions of this title, chartered and licensed to write only liability insurance pursuant to this chapter and, except as provided in this chapter, must comply with all of the laws, rules, regulations, and requirements applicable to the insurers chartered and licensed in this state and with § 27-46-4 to the extent those requirements are not a limitation on laws, rules, regulations, or requirements of this state.
(b)
Before it may offer insurance in any state, each risk retention group shall also submit for approval to the insurance commissioner of this state a plan of operation or feasibility study. The risk retention group shall submit an appropriate revision in the event of any subsequent material change in any item of the plan of operation or feasibility study within ten (10) days of any change. The group shall not offer any additional kinds of liability insurance, in this state or in any other state, until a revision of the plan or study is approved by the commissioner.
(c)
At the time of filing its application for a charter, the risk retention group shall provide to the commissioner in summary form the following information: the identity of the initial members of the group; the identity of those individuals who organized the group or who will provide administrative services or influence or control the activities of the group; the amount and nature of initial capitalization; the coverage to be afforded; and the states in which the group intends to operate. Upon receipt of this information, the commissioner shall forward the information to the National Association of Insurance Commissioners. Providing notification to the National Association of Insurance Commissioners is in addition to and shall not be sufficient to satisfy the requirements of § 27-46-4 or any other sections of this chapter.
History of Section.
P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-5. - Compulsory associations.

§ 27-46-5. Compulsory associations.
(a)
No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by the risk retention group.
(b)
When a purchasing group obtains insurance covering its members’ risks from an insurer not authorized or licensed in this state or a risk retention group, none of these risks, wherever resident or located, shall be covered by an insurance insolvency fund or similar mechanism in this state.
(c)
When a purchasing group obtains insurance covering its members’ risks from a member insurer of the Rhode Island insurance insolvency fund, only those risks as are subject to the insolvency fund shall be covered by the insolvency fund.
History of Section.
P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-6. - Countersignatures not required.

§ 27-46-6. Countersignatures not required.
A policy of insurance issued to a risk retention group or any member of that group shall not be required to be countersigned as otherwise provided in this title.
History of Section.
P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-7. - Purchasing groups — Exemption from certain laws.

§ 27-46-7. Purchasing groups — Exemption from certain laws.
A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would:
(1)
Prohibit the establishment of a purchasing group;
(2)
Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverage, or other matters;
(3)
Prohibit a purchasing group or its members from purchasing insurance on a group basis described in subsection (2);
(4)
Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;
(5)
Require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form;
(6)
Require that a certain percentage of a purchasing group must obtain insurance on a group basis;
(7)
Discriminate against a purchasing group or any of its members; or
(8)
Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker or producer residing in this state.
History of Section.
P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-8. - Notice and registration requirements of purchasing groups.

§ 27-46-8. Notice and registration requirements of purchasing groups.
(a)
A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the commissioner which shall:
(1)
Identify the state in which the group is domiciled;
(2)
Identify all other states in which the group intends to do business;
(3)
Specify the lines and classifications of liability insurance that the purchasing group intends to purchase;
(4)
Identify the insurance company or companies from which the group intends to purchase its insurance and the domicile of the company;
(5)
Specify the method by which, and the person or persons, if any, through whom insurance will be offered to its members whose risks are resident or located in this state;
(6)
Identify the principal place of business of the group; and
(7)
Provide any other information that may be required by the commissioner to verify that the purchasing group is qualified under § 27-46-2(10).
(b)
A purchasing group shall, within ten (10) days, notify the commissioner of any changes in any of the items set forth in subsection (a) of this section.
(c)
The purchasing group shall register with and designate the commissioner as its agent solely for the purpose of receiving service of legal documents or process, for which a filing fee shall be determined by the commissioner, except that these requirements shall not apply in the case of a purchasing group which only purchases insurance that was authorized under the federal Products Liability Risk Retention Act of 1981, 15 U.S.C. § 3901 et seq., and:
(1)
Which in any state of the United States:
(i)
Was domiciled before April 1, 1986; and
(ii)
Is domiciled on and after October 27, 1986;
(2)
Which:
(i)
Before October 27, 1986, purchased insurance from an insurance carrier licensed in any state; and
(ii)
Since October 27, 1986, purchased its insurance from an insurance carrier licensed in any state; or
(3)
Which was a purchasing group under the requirements of 15 U.S.C. § 3901 et seq. before October 27, 1986.
(d)
Each purchasing group that is required to give notice pursuant to subsection (a) shall also furnish the information that may be required by the commissioner to:
(1)
Verify that the entity qualifies as a purchasing group;
(2)
Determine where the purchasing group is located; and
(3)
Determine appropriate tax treatment.
History of Section.
P.L. 1991, ch. 348, § 1; P.L. 2002, ch. 292, § 88.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-9. - Restrictions on insurance purchased by purchasing groups.

§ 27-46-9. Restrictions on insurance purchased by purchasing groups.
(a)
A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or broker or insurance producer acting pursuant to the surplus lines laws and regulations of that state.
(b)
A purchasing group which obtains liability insurance from an insurer not admitted in this state or a risk retention group shall inform each of the members of the group which have a risk resident or located in this state that the risk is not protected by an insurance insolvency guaranty fund in this state, and that the risk retention group or the insurer may not be subject to all insurance laws and regulations of this state.
(c)
No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole; coverage may provide for a deductible or self-insured retention applicable to individual members.
(d)
Purchases of insurance by purchasing groups are subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance.
History of Section.
P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-46 - Risk Retention Act › Section 27-46-10. - Purchasing group taxation.

§ 27-46-10. Purchasing group taxation.
Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing groups shall be:
(1)
Imposed at the same rate and subject to the same interest, fines, and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds; and
(2)
Paid first by the insurance source, and if not by the source by the agent or broker or producer for the purchasing group, and if not by the agent or broker or producer then by the purchasing group, and if not by the purchasing group then by each of its members.
History of Section.
P.L. 1991, ch. 348, § 1.