reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-18. - Disapproval of specific inland marine rates.

§ 27-6-18. Disapproval of specific inland marine rates.
If, within thirty (30) days after a specific inland marine rate on a risk specially rated by a rating organization, subject to § 27-6-12, has become effective, the commissioner finds that the filing does not meet the requirements of this chapter, the commissioner shall send to the rating organization which made the filing written notice of disapproval of the filing specifying in what respects he or she finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period after this, the filing shall be deemed no longer effective. This disapproval shall not affect any contract made or issued prior to the expiration of the period set forth in the notice.
History of Section.
P.L. 1948, ch. 2088, § 5; G.L. 1956, § 27-6-18.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-19. - Suspension of rates or filings after review period — Removal of discriminatory applications of rates.

§ 27-6-19. Suspension of rates or filings after review period — Removal of discriminatory applications of rates.
If, at any time subsequent to the applicable review period provided for in § 27-6-17 or 27-6-18, the commissioner finds that a rate or filing does not meet the requirements of this chapter, the commissioner shall, after a hearing held upon not less than ten (10) days written notice, specifying the matters to be considered at the hearing, to every insurer and rating organization which used the rate or made the filing, issue an order specifying in what respects he or she finds that the rate or filing fails to meet the requirements of this chapter, and stating when, within a reasonable period after this, the rate shall no longer be used or the filing shall be deemed no longer effective. This order shall not affect any contract or policy made or issued prior to the expiration of the period set forth in the order. If the commissioner finds that an unfair discrimination exists in the application of a rate or filing to an individual risk the commissioner may, after a hearing held on like notice to the insurer affected and to any rating organization which made the filing, issue an order that the unfair discrimination be removed. Copies of any order issued under this section shall be sent to every affected insurer and rating organization.
History of Section.
P.L. 1948, ch. 2088, § 5; G.L. 1956, § 27-6-19.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-20. - Hearings on application by persons aggrieved by filings — Order terminating filing — Removal of discrimination.

§ 27-6-20. Hearings on application by persons aggrieved by filings — Order terminating filing — Removal of discrimination.
(a)
Any person or organization aggrieved with respect to any rate or filing which is in effect may make written application to the commissioner for a hearing; provided, that the insurer or rating organization that uses the rate or made the filing shall not be authorized to proceed under this section. This application shall specify the grounds to be relied upon by the applicant. If the commissioner shall find that the application is made in good faith, that the applicant would be aggrieved if his or her grounds are established, and that these grounds justify holding a hearing, the commissioner shall, within thirty (30) days after receipt of the application, hold a hearing upon not less than ten (10) days written notice to the applicant and to every insurer and rating organization which uses the rate or made the filing; provided, if a public hearing had been held concerning the rate or filing before it became effective, no hearing shall be held pursuant to this section unless the commissioner shall find that there has been a substantial change of circumstances since that hearing.
(b)
If, after the hearing, the commissioner finds that the rate or filing does not meet the requirements of this chapter, the commissioner shall issue an order specifying in what respects he or she finds that the rate or filing fails to meet the requirements of this chapter, and stating when, within a reasonable period after this, the rate shall no longer be used or the filing shall be deemed no longer effective. This order shall not affect any contract or policy made or issued prior to the expiration of the period set forth in the order. If the commissioner finds that an unfair discrimination exists in the application of a rate or filing to an individual risk the commissioner may, after a hearing held on like notice to the insurer affected and to any rating organization which made the filing, issue an order that the unfair discrimination be removed. Copies of any order issued under this section shall be sent to every affected insurer and rating organization.
History of Section.
P.L. 1948, ch. 2088, § 5; G.L. 1956, § 27-6-20; P.L. 1968, ch. 286, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-21. - Competitive rates as evidence of fairness — Profit as evidence of adequacy.

§ 27-6-21. Competitive rates as evidence of fairness — Profit as evidence of adequacy.
If the insurer making or issuing a contract or policy at a rate or premium less than that provided by any filing, at any hearing held pursuant to §§ 27-6-17 — 27-6-22, or pursuant to § 27-6-16, shows to the satisfaction of the commissioner that the rate or premium was used in good faith to meet an equally low or lower net cost to the insured of a competitor, that showing shall be prima facie evidence that the rate or premium used is not unfairly discriminatory, and if the insurer using the rate or premium shall show to the satisfaction of the commissioner that it is writing that kind or class of insurance at a profit, that showing shall be prima facie evidence that the rate or premium used is not inadequate.
History of Section.
P.L. 1948, ch. 2088, § 5; G.L. 1956, § 27-6-21.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-22. - Filed schedules and plans not to be disapproved if rates meet requirements.

§ 27-6-22. Filed schedules and plans not to be disapproved if rates meet requirements.
No manual, minimum, or class rate, rating schedule, rating plan, rating rule, or any modification of any of these which has been filed pursuant to the requirements of §§ 27-6-8 — 27-6-16 shall be disapproved if the rates produced meet the requirements of this chapter.
History of Section.
P.L. 1948, ch. 2088, § 5; G.L. 1956, § 27-6-22.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-23. - Licensing of rating organizations.

§ 27-6-23. Licensing of rating organizations.
(a)
A corporation, an unincorporated association, a partnership, or an individual, whether located within or outside this state, may make an application to the commissioner for a license as a rating organization for those kinds of insurance, or a subdivision or a class of risk or a part or combination of it as are specified in its application and shall file with the application:
(1)
A copy of its constitution, its articles of agreement or association or its certificate of incorporation, and its bylaws, rules, and regulations governing the conduct of its business;
(2)
A list of its members and subscribers;
(3)
The name and address of a resident of this state upon whom notices or orders of the commissioner or process affecting the rating organization may be served; and
(4)
A statement of its qualification as a rating organization.
(b)
If the commissioner finds that the applicant is competent, trustworthy, and otherwise qualified to act as a rating organization and that its constitution, its articles of agreement or association or certificate of incorporation, and its bylaws, rules, and regulations governing the conduct of its business conform to the requirements of law, the commissioner shall issue a license specifying the kinds of insurance, or a subdivision or a class or a risk or part or combination of it, for which the applicant is authorized to act as a rating organization. Every application shall be granted or denied in whole or in part by the commissioner within sixty (60) days of the date of its filing with him or her. Licenses issued pursuant to this section shall remain in effect for three (3) years unless suspended or revoked by the commissioner. The fee for the license shall be three hundred dollars ($300). All in force licenses shall be transitioned into a three (3) year 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.
(c)
Licenses issued pursuant to this section may be suspended or revoked by the commissioner, after hearing upon notice, in the event the rating organization ceases to meet the requirements of this section. Every rating organization shall notify the commissioner promptly of every change in:
(1)
Its constitution, its articles of agreement or association or its certificate of incorporation, and its bylaws, rules, and regulations governing the conduct of its business;
(2)
Its list of members and subscribers; and
(3)
The name and address of the resident of this state designated by it upon whom notices or orders of the commissioner or process affecting the rating organization may be served.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-23; P.L. 1960, ch. 71, art. 1, § 3; P.L. 2005, ch. 174, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-24. - Admission of and services to subscribers.

§ 27-6-24. Admission of and services to subscribers.
Subject to rules and regulations which have been approved by the commissioner as reasonable, each rating organization shall permit any insurer, not a member, to be a subscriber to its rating services for any kind of insurance, or subdivision or class of risk or a part or combination of it, for which it is authorized to act as a rating organization. Notice of proposed changes in the rules and regulations shall be given to subscribers. Each rating organization shall furnish its rating services without discrimination to its members and subscribers. The reasonableness of any rule or regulation in its application to subscribers, or the refusal of any rating organization to admit an insurer as a subscriber, shall, at the request of any subscriber or any affected insurer, be reviewed by the commissioner at a hearing held upon at least ten (10) days written notice to the rating organization and to the subscriber or insurer. If the commissioner finds that the rule or regulation is unreasonable in its application to subscribers, the commissioner shall order that the rule or regulation shall not be applicable to subscribers. If the rating organization fails to grant or reject an insurer’s application for subscribership within thirty (30) days after it was made, the insurer may request a review by the commissioner as if the application had been rejected. If the commissioner finds that the insurer has been refused admittance to the rating organization as a subscriber without justification, the commissioner shall order the rating organization to admit the insurer as a subscriber. If the commissioner finds that the action of the rating organization was justified, he or she shall make an order affirming its action.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-24.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-25. - Regulation by rating organizations of payments by insurers to policyholders or members.

§ 27-6-25. Regulation by rating organizations of payments by insurers to policyholders or members.
No rating organization shall adopt any rule the effect of which would be to prohibit or regulate the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-25.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-26. - Cooperation among rating organizations and insurers — Review of cooperative practices.

§ 27-6-26. Cooperation among rating organizations and insurers — Review of cooperative practices.
Cooperation among rating organizations or among rating organizations and insurers and concert of action among insurers under the same general management or control, in rate making or in other matters within the scope of this chapter, are authorized, provided the filings resulting are subject to all the provisions of this chapter which are applicable to filings generally. The commissioner may review those cooperative activities and practices and if, after a hearing, the commissioner finds that any activity or practice is unfair or unreasonable or inconsistent with the provisions of this chapter, he or she may issue a written order specifying in what respects that activity or practice is unfair or unreasonable or inconsistent with the provisions of this chapter and requiring the discontinuance of that activity or practice.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-26.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-27. - Examination of policies and records by rating organizations.

§ 27-6-27. Examination of policies and records by rating organizations.
Any rating organization may provide for the examination of policies, daily reports, binders, renewal certificates, endorsements, or other evidences of insurance, or the cancellation of insurance, and may make reasonable rules governing their submission. Those rules shall contain a provision that in the event any insurer does not within sixty (60) days furnish satisfactory evidence to the rating organization of the correction of any error or omission previously called to its attention by the rating organization, it shall be the duty of the rating organization to notify the commissioner. All information submitted for examination shall be confidential.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-27.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-28. - Actuarial and technical services furnished by rating organizations.

§ 27-6-28. Actuarial and technical services furnished by rating organizations.
Any rating organization may subscribe for or purchase actuarial, technical, or other services, and those services shall be available to all members and subscribers without discrimination.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-28.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-29. - Adherence to rating organization filings — Deviation filings.

§ 27-6-29. Adherence to rating organization filings — Deviation filings.
Every member of or subscriber to a rating organization shall adhere to the filings made on its behalf by the organization; except that any insurer which is a member or subscriber may file with the commissioner a deviation from the class rates, schedules, rating plans, or rules respecting any kind of insurance or class of risk within a kind of insurance or combination of it. The deviation filing shall specify the basis for the modification and a copy shall also be sent simultaneously to the rating organization. Any deviation filing shall be on file for a waiting period of thirty (30) days before it becomes effective unless the commissioner reviews and authorizes the filing to become effective before the expiration of that period and shall be subject to the provisions of §§ 27-6-17 — 27-6-22. Each deviation shall be effective for a period of not less than one year from the date the deviation is filed unless terminated with the approval of the commissioner or in accordance with the provisions of §§ 27-6-17 — 27-6-22.
History of Section.
P.L. 1948, ch. 2088, § 6; G.L. 1956, § 27-6-29.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-30. - Appeals from action of rating organization on changes in filings.

§ 27-6-30. Appeals from action of rating organization on changes in filings.
(a)
Any member of or subscriber to a rating organization may appeal to the commissioner from any action or decision of the rating organization in approving or rejecting any proposed change in or addition to the filings of the rating organization, and the commissioner shall, after a hearing held upon not less than ten (10) days written notice to the appellant and to the rating organization, issue an order approving the action or decision of the rating organization or directing it to give further consideration to the proposal and to take action or make a decision upon it within thirty (30) days, or if the appeal is from the action or decision of the rating organization in rejecting a proposed addition to its filings, the commissioner may, in the event he or she finds that the action or decision was unreasonable, issue an order directing the rating organization to make an addition to its filings, on behalf of its members and subscribers, in a manner consistent with his or her findings, within a reasonable time after the issuance of the order; provided, if the appeal is from the action of the rating organization with regard to a rate on a proposed change in or addition to its filings relating to the character and extent of coverage, the commissioner shall approve the rate applied by the rating organization or the rate suggested by the appellant if either rate is in accordance with this chapter.
(b)
The failure of a rating organization to take action or make a decision within thirty (30) days after submission to it of a proposal under this section shall constitute a rejection of that proposal within the meaning of this section.
History of Section.
P.L. 1948, ch. 2088, § 7; G.L. 1956, § 27-6-30.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-31. - Rate information furnished to insured.

§ 27-6-31. Rate information furnished to insured.
Every rating organization and every insurer which makes its own rates shall, within a reasonable time after receiving written request for it and upon payment of any reasonable charge it may make, furnish to any insured affected by a rate made by it, or to the authorized representative of that insured, all pertinent information as to that rate.
History of Section.
P.L. 1948, ch. 2088, § 8; G.L. 1956, § 27-6-31.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-32. - Review of application of rating system to insured.

§ 27-6-32. Review of application of rating system to insured.
Every rating organization and every insurer which makes its own rates shall provide within this state reasonable means where any person aggrieved by the application of its rating system may be heard, in person or by his or her authorized representative, on his or her written request to review the manner in which the rating system has been applied in connection with the insurance afforded that person. If the rating organization or insurer fails to grant or reject that request within thirty (30) days after it is made, the applicant may proceed in the same manner as if the application had been rejected. Any party affected by the action of the rating organization or insurer on his or her request may, within thirty (30) days after written notice of the action, appeal to the commissioner, who, after a hearing held upon not less than ten (10) days written notice to the appellant and to the rating organization or insurer, may affirm or reverse the action.
History of Section.
P.L. 1948, ch. 2088, § 8; G.L. 1956, § 27-6-32.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-33. - “Advisory organization” defined.

§ 27-6-33. “Advisory organization” defined.
Every group, association, or other organization of insurers, whether located within or outside of this state, which assists insurers which make their own filings or rating organizations in rate making, by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but which does not make filings under this chapter, shall be known as an “advisory organization.”
History of Section.
P.L. 1948, ch. 2088, § 9; G.L. 1956, § 27-6-33.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-34. - Documents filed by advisory organizations.

§ 27-6-34. Documents filed by advisory organizations.
Every advisory organization shall file with the commissioner:
(1)
A copy of its constitution, its articles of agreement or association or its certificate of incorporation, and its bylaws, rules, and regulations governing its activities;
(2)
A list of its members;
(3)
The name and address of a resident of this state upon whom notices or orders of the commissioner or process issued at the commissioner’s direction may be served; and
(4)
An agreement that the commissioner may examine that advisory organization in accordance with the provisions of §§ 27-6-39 and 27-6-40.
History of Section.
P.L. 1948, ch. 2088, § 9; G.L. 1956, § 27-6-34.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-35. - Unlawful practices of advisory organizations.

§ 27-6-35. Unlawful practices of advisory organizations.
If, after a hearing, the commissioner finds that the furnishing of any information or assistance by a rating organization involves any act or practice which is unfair or unreasonable or inconsistent with the provisions of this chapter, the commissioner may issue a written order specifying in what respects that act or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of that act or practice.
History of Section.
P.L. 1948, ch. 2088, § 9; G.L. 1956, § 27-6-36.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-36. - Use of information from noncomplying advisory organization.

§ 27-6-36. Use of information from noncomplying advisory organization.
No insurer which makes its own filings or any rating organization shall support its filings by statistics, or adopt rate making recommendations, furnished to it by an advisory organization which has not complied with §§ 27-6-33 — 27-6-35, or with an order of the commissioner involving those statistics or recommendations issued under § 27-6-35. If the commissioner finds any insurer or rating organization to be in violation of this section the commissioner may issue an order requiring the discontinuance of that violation.
History of Section.
P.L. 1948, ch. 2088, § 9; G.L. 1956, § 27-6-36.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-37. - Provisions applicable to joint underwriting and reinsurance.

§ 27-6-37. Provisions applicable to joint underwriting and reinsurance.
Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance shall be subject to regulation with respect to it as provided in § 27-6-38, subject, with respect to joint underwriting, to all other provisions of this chapter and, with respect to joint reinsurance, to §§ 27-6-39, 27-6-40, and 27-6-46 — 27-6-52.
History of Section.
P.L. 1948, ch. 2088, § 10; G.L. 1956, § 27-6-37.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-38. - Unlawful practices of joint underwriters or reinsurers.

§ 27-6-38. Unlawful practices of joint underwriters or reinsurers.
If, after a hearing, the commissioner finds that any activity or practice of any group, association, or other organization of joint underwriters or insurers is unfair or unreasonable or inconsistent with the provisions of this chapter, the commissioner may issue a written order specifying in what respects that activity or practice is unfair or unreasonable or inconsistent with the provisions of this chapter, and requiring the discontinuance of that activity or practice.
History of Section.
P.L. 1948, ch. 2088, § 10; G.L. 1956, § 27-6-38.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-39. - Examination of rating and advisory organizations and underwriting and reinsurance groups.

§ 27-6-39. Examination of rating and advisory organizations and underwriting and reinsurance groups.
The commissioner shall, at least once in five (5) years, make or cause to be made an examination of each rating organization licensed in this state as provided in § 27-6-23 and the commissioner may, as often as he or she may deem it expedient, make or cause to be made an examination of each advisory organization referred to in § 27-6-33 and of each group, association, or other organization referred to in § 27-6-37. The total cost of those examinations shall be borne by the examined organization 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. This assessment shall be in addition to any taxes and fees payable to the state. The officers, manager, 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. In lieu of any examination the commissioner may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of that state.
History of Section.
P.L. 1948, ch. 2088, § 11; G.L. 1956, § 27-6-39; P.L. 1960, ch. 71, art. 1, § 3; P.L. 2008, ch. 371, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-40. - Reports on examinations — Hearing and filing.

§ 27-6-40. Reports on examinations — Hearing and filing.
The commissioner shall prepare a report of any examination held pursuant to § 27-6-39 and shall, within a reasonable time following completion of that report, furnish each rating organization, group, association, or other organization examined with a copy of it. Any rating organization, advisory organization, group, association, or other organization may, within thirty (30) days after the receipt of a copy of the report, request the commissioner for a hearing on the report, which shall be held by the commissioner upon ten (10) days written notice to the rating organization, advisory organization, group, association, or other organization. Following that hearing the commissioner may affirm, modify, or withdraw the report. Any report or modification of the report shall be filed in the office of the commissioner 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. 1948, ch. 2088, § 11; G.L. 1956, § 27-6-40.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-41. - Collection and compilation of experience statistics.

§ 27-6-41. Collection and compilation of experience statistics.
The commissioner shall promulgate reasonable rules and statistical plans, reasonably adapted to each of the rating systems on file with the commissioner, which may be modified and which shall be used by each insurer in the recording and reporting of its loss and countrywide expense experience, in order that the experience of all insurers may be made available at least annually in the form and detail necessary to aid him or her in determining whether rating systems comply with the standards set forth in §§ 27-6-4 — 27-6-7. Those rules and plans may also provide for the recording and reporting of expense experience items that are specially applicable to this state and are not susceptible of determination by a prorating of countrywide expense experience. In promulgating those rules and plans, the commissioner shall give due consideration to the rating systems on file with the commissioner and, in order that those rules and plans may be as uniform as is practicable among the several states, to the rules and to the form of the plans used for the rating systems in other states. No insurer shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it. The commissioner may designate one or more rating organizations or other agencies to assist him or her in gathering that experience and making compilations of the experience, and those compilations shall be made available, subject to reasonable rules promulgated by the commissioner, to insurers and rating organizations.
History of Section.
P.L. 1948, ch. 2088, § 12; G.L. 1956, § 27-6-41.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-42. - Interchange of rating plan data.

§ 27-6-42. Interchange of rating plan data.
Reasonable rules and plans may be promulgated by the commissioner for the interchange of data necessary for the application of rating plans.
History of Section.
P.L. 1948, ch. 2088, § 12; G.L. 1956, § 27-6-42.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-43. - Cooperation with other states.

§ 27-6-43. Cooperation with other states.
In order to further uniform administration of rate regulatory laws, the commissioner and every insurer and rating organization may exchange information and experience data with insurance supervisory officials, insurers, and rating organizations in other states and may consult with them with respect to rate making and the application of rating systems.
History of Section.
P.L. 1948, ch. 2088, § 12; G.L. 1956, § 27-6-43.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-44. - Rules and regulations.

§ 27-6-44. Rules and regulations.
The commissioner may make reasonable rules and regulations necessary to effect the purposes of this chapter.
History of Section.
P.L. 1948, ch. 2088, § 12; G.L. 1956, § 27-6-44.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-45. - False or misleading information.

§ 27-6-45. False or misleading information.
No person or organization shall willfully withhold information from, or knowingly give false or misleading information to, the commissioner, any statistical agency designated by the commissioner, any rating organization, or any insurer, which will affect the rates or premiums chargeable under this chapter. A violation of this section shall subject the one guilty of that violation to the penalties provided in §§ 27-6-47 and 27-6-48.
History of Section.
P.L. 1948, ch. 2088, § 13; G.L. 1956, § 27-6-45.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-46. - [Repealed.]

§ 27-6-46. [Repealed.]
History of Section.
P.L. 1948, ch. 2088, § 14; G.L. 1956, § 27-6-46; repealed by P.L. 2022, ch. 404, § 10, effective June 30, 2022; repealed by P.L. 2022, ch. 405, § 10, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-47. - Penalty for violations.

§ 27-6-47. Penalty for violations.
Any person or organization willfully violating any provision of this chapter shall, upon conviction, be fined not less than one hundred dollars ($100) and not more than five hundred dollars ($500) for each violation. That penalty may be in addition to any other penalty provided by law.
History of Section.
P.L. 1948, ch. 2088, § 15; G.L. 1956, § 27-6-47.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-48. - Suspension or revocation of licenses.

§ 27-6-48. Suspension or revocation of licenses.
(a)
The commissioner may suspend the license of any rating organization or insurer which fails to comply with an order of the commissioner within the time limited by the order, or any extension which the commissioner may grant. The commissioner shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal has expired or, if an appeal has been taken, until the order has been affirmed.
(b)
The commissioner may determine when a suspension of a license shall become effective, and it shall remain in effect for the period fixed by the commissioner, unless he or she modifies or rescinds that suspension, or until the order upon which that suspension is based is modified, rescinded, or reversed.
(c)
No license shall be suspended or revoked except upon a written order of the commissioner, stating the commissioner’s findings made after a hearing held upon not less than ten (10) days’ written notice to the person or organization specifying the alleged violation.
History of Section.
P.L. 1948, ch. 2088, § 15; G.L. 1956, § 27-6-48.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-49. - Hearings on decisions of commissioner.

§ 27-6-49. Hearings on decisions of commissioner.
Any insurer or rating organization aggrieved by any order or decision of the commissioner or by any rule or regulation adopted and promulgated by the commissioner may within thirty (30) days after notice to the insurer or organization make a written request to the commissioner for a hearing, except that a hearing provided for by §§ 27-6-17 — 27-6-22 shall be held as provided in those sections. Within twenty (20) days after receipt of that written request, the commissioner shall hear the party or parties and shall give not less than ten (10) days written notice of the time and place of the hearing. Within fifteen (15) days after the hearing, the commissioner shall affirm, reverse, or modify his or her previous action, specifying his or her reasons. Pending the hearing and decision, the commissioner may suspend or postpone the effective date of his or her previous action.
History of Section.
P.L. 1948, ch. 2088, § 16; G.L. 1956, § 27-6-49.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-50. - Pleadings and evidence at hearings.

§ 27-6-50. Pleadings and evidence at hearings.
At any hearing before the commissioner, observance of formal rules of pleading or evidence shall not be required.
History of Section.
P.L. 1948, ch. 2088, § 16; G.L. 1956, § 27-6-50.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-51. - Judicial review of orders and decisions.

§ 27-6-51. Judicial review of orders and decisions.
(a)
Any final order or decision of the commissioner, including any order made after a hearing under the provisions of §§ 27-6-17 — 27-6-22 or § 27-6-49, shall be subject to review by a petition filed within twenty (20) days after notice of it at the instance of any party in interest in the superior court for the counties of Providence and Bristol, and the matter shall be heard de novo in the superior court and decisions on issues of fact shall be in accordance with the preponderance of the evidence presented there.
(b)
The court shall determine whether the order or decision of the commissioner shall be stayed pending review. The court may, in disposing of the issue before it, modify, affirm, or reverse the order or decision of the commissioner in whole or in part.
(c)
An appeal may be taken from the decision of the superior court to the supreme court, and that appeal shall follow the course of equity.
History of Section.
P.L. 1948, ch. 2088, § 16; G.L. 1956, § 27-6-51.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6 - Fire and Marine Insurance Rating › Section 27-6-52. - Severability.

§ 27-6-52. Severability.
If any section, subsection, subdivision, paragraph, sentence, or clause of this chapter is held invalid or unconstitutional, that decision shall not affect the remaining portions of this chapter.
History of Section.
P.L. 1948, ch. 2088, § 18; G.L. 1956, § 27-6-52.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-1. - Purpose.

§ 27-6.1-1. Purpose.
The purpose of this chapter is to:
(1)
Promote the public welfare by regulating lender-placed insurance on real property.
(2)
Create a legal framework within which lender-placed insurance on real property may be written in this state.
(3)
Help maintain the separation between lenders/servicers and insurers/insurance producers.
(4)
Minimize the possibilities of unfair competitive practices in the sale, placement, solicitation, and negotiation of lender-placed insurance.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-2. - Scope.

§ 27-6.1-2. Scope.
(a)
This chapter applies to insurers and insurance producers engaged in any transaction involving lender-placed insurance as defined in this chapter.
(b)
All lender-placed insurance written in connection with mortgaged real property, including manufactured and mobile homes, is subject to the provisions of this chapter, except:
(1)
Transactions involving extensions of credit primarily for business, commercial, or agricultural purposes.
(2)
Insurance offered by the lender or servicer and elected by the mortgagor at the mortgagor’s option.
(3)
Insurance purchased by a lender or servicer on real estate owned property.
(4)
Insurance for which no specific charge is made to the mortgagor or the mortgagor’s account.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-4. - Term of insurance policy.

§ 27-6.1-4. Term of insurance policy.
(a)
Lender-placed insurance shall become effective no earlier than the date of lapse of insurance upon mortgaged real property subject to the terms of a mortgage agreement and/or any other state or federal law requiring the same.
(b)
Individual lender-placed insurance shall terminate on the earliest of the following dates:
(1)
The date the insurance that is acceptable under the mortgage agreement becomes effective, subject to the mortgagor providing sufficient evidence of such acceptable insurance.
(2)
The date the applicable real property no longer serves as collateral for a mortgage loan pursuant to a mortgage agreement.
(3)
Such other date as specified by the individual policy or certificate of insurance.
(4)
Such other date as specified by the lender or servicer.
(5)
The termination date of the policy.
(c)
An insurance charge shall not be made to a mortgagor for lender-placed insurance for a term longer than the scheduled term of the lender-placed insurance, nor may an insurance charge be made to the mortgagor for lender-placed insurance before the effective date of the lender-placed insurance.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-5. - Calculation of coverage and payment of premiums.

§ 27-6.1-5. Calculation of coverage and payment of premiums.
(a)
Any lender-placed insurance coverage, and subsequent calculation of premium, should be based upon the replacement cost value of the property as best determined as follows:
(1)
The dwelling coverage amount set forth in the most recent evidence of insurance coverage provided by the mortgagee (“last known coverage amount” or “LKCA”), if known to the lender or servicer.
(2)
The insurer shall inquire of the insured, at least once, as to the LKCA; and if it is not able to obtain the LKCA from the insured or in another manner, the insurer may proceed as set forth below.
(3)
If the LKCA is unknown, the replacement cost of the property serving as collateral as calculated by the insurer, unless the use of replacement cost for this purpose is prohibited by other state or federal law.
(4)
If the LKCA is unknown and the replacement cost is not available or its use is prohibited, the unpaid principal balance of the mortgage loan.
(b)
In the event of a covered loss, any replacement cost coverage provided by an insurer in excess of the unpaid principal balance of the mortgage loan shall be paid to the mortgagor.
(c)
An insurer shall not write lender-placed insurance for which the premium rate differs from that determined by the schedules of the insurer on file with the commissioner as of the effective date of any such policy.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-6. - Prohibited practices.

§ 27-6.1-6. Prohibited practices.
(a)
An insurer or insurance producer shall not issue lender-placed insurance on mortgaged property that the insurer or insurance producer or an affiliate of the insurer or insurance producer owns, performs the servicing for, or owns the servicing right to the mortgaged property.
(b)
An insurer or insurance producer shall not compensate a lender, insurer, investor, or servicer (including through the payment of commissions) on lender-placed property insurance policies issued by the insurer.
(c)
An insurer or insurance producer shall not share lender-placed insurance premium or risk with the lender, investor, or servicer that obtained the lender-placed insurance.
(d)
An insurer or insurance producer shall not offer contingent commissions, profit sharing, or other payments dependent on profitability or loss ratios to any person affiliated with a servicer or the insurer in connection with lender-placed insurance.
(e)
An insurer shall not provide free or below-cost outsourced services to lenders, investors, or servicers, and an insurer will not outsource its own functions to lenders, insurance producers, investors, or servicers on an above-cost basis.
(f)
An insurer or insurance producer shall not make any payments, including, but not limited to, the payment of expenses to a lender, insurer, investor, or servicer for the purpose of securing lender-placed insurance business or related outsourced services.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-7. - Non-circumvention.

§ 27-6.1-7. Non-circumvention.
Nothing in this chapter shall be construed to allow an insurance producer or an insurer solely underwriting lender-placed insurance to circumvent the requirements set forth within this chapter. This chapter shall apply to all insurers and insurance producers involved in lender-placed insurance.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-8. - Evidence of coverage.

§ 27-6.1-8. Evidence of coverage.
Lender-placed insurance shall be set forth in an individual policy or certificate of insurance. A copy of the individual policy, certificate of insurance, or other evidence of insurance coverage shall be mailed, first-class mailed, or delivered in person to the last known address of the mortgagor or delivered in accordance with chapter 14 of title 42. Notwithstanding any other statutory or regulatory required information, the individual policy or certificate of insurance coverage shall include the following information:
(1)
The address and identification of the insured property;
(2)
The coverage amount or amounts if multiple coverages are provided;
(3)
The effective date of the coverage;
(4)
The term of coverage;
(5)
The premium charge for the coverage;
(6)
Contact information for filing a claim; and
(7)
A complete description of the coverage provided.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-6.1 - Lender-Placed Insurance › Section 27-6.1-9. - Filing, approval and withdrawal of forms and rates.

§ 27-6.1-9. Filing, approval and withdrawal of forms and rates.
(a)
All policy forms and certificates of insurance to be delivered or issued for delivery in this state and the schedules of premium rates pertaining thereto shall be filed with the commissioner.
(b)
The commissioner shall review the rates to determine whether the rates are excessive, inadequate, or unfairly discriminatory. This analysis shall include a determination as to whether expenses included by the insurer in the rate are appropriate.
(c)
All insurers shall re-file lender-placed property insurance rates at least once every four (4) years.
(d)
All insurers writing lender-placed insurance shall have separate rates for lender-placed insurance and voluntary insurance obtained by a mortgage servicer on real estate owned property.
(e)
Upon the introduction of a new lender-placed insurance program, the insurer shall reference its experience in existing programs in the associated filings. Nothing in this chapter shall limit an insurer’s discretion, as actuarially appropriate, to distinguish different terms, conditions, exclusions, eligibility criteria, or other unique or different characteristics. Moreover, an insurer may, where actuarially acceptable, rely upon models or, in the case of flood filings where applicable experience is not credible, on Federal Emergency Management Agency (FEMA) National Flood Insurance Program (NFIP) data.
(f)
No later than April 1 of each year, each insurer with at least one hundred thousand dollars ($100,000) in direct written premium for lender-placed insurance in this state during the prior calendar year shall report to the commissioner the following information for the prior calendar year. This report shall be separately produced for each lender-placed program and presented on both an individual-jurisdiction and countrywide basis containing the following information:
(1)
Actual loss ratio;
(2)
Earned premium;
(3)
Any aggregate schedule rating debit/credit to earned premium;
(4)
Itemized expenses;
(5)
Paid losses; and
(6)
Loss reserves, including case reserves and reserves for incurred but not reported losses.
(g)
Except in the case of lender-placed flood insurance, to which this paragraph does not apply, if an insurer experiences an annual loss ratio of less than thirty-five percent (35%) in any lender-placed program for two (2) consecutive years, it shall submit a rate filing (either adjusting its rates or supporting their continuance) to the commissioner no more than ninety (90) days after the submission of the data required pursuant to subsection (f).
(h)
Except as specifically set forth in this section, rate and form filing requirements shall be subject to the insurance laws of this state.
History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.