reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-1. - Separate accounts authorized.

§ 27-32-1. Separate accounts authorized.
(a)
Any domestic life insurance company may establish one or more separate accounts, and may allocate to the account or accounts any amounts paid to it that are to be applied under the terms of an individual or group contract or agreement to provide annuity or life insurance benefits, or under the terms of a funding agreement, which contract or agreement or funding agreement may also provide other benefits incidental thereto, payable in fixed or in variable dollar amounts or in both.
(b)
Notwithstanding any other provision of law, any domestic life insurance company that establishes one or more separate accounts as provided in this section may provide to the holders of interests in any separate account voting rights with respect to the management of the separate account and the investment of assets in it, may establish for the separate account a committee, board, or other body, the members of which: (1) May be elected solely by holders having voting rights, and (2) May or may not be affiliated with the life insurance company, and may provide for compliance with any applicable state and federal law in order that contracts assigned to separate accounts may be lawfully sold or offered for sale. If and to the extent provided in the applicable agreement, the assets in a separate account shall not be chargeable with liabilities arising out of any other business of the company.
History of Section.
P.L. 1966, ch. 161, § 1; P.L. 1968, ch. 253, § 2; P.L. 1975, ch. 84, § 2; P.L. 2001, ch. 247, § 3; P.L. 2001, ch. 367, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-2. - Investments of accounts.

§ 27-32-2. Investments of accounts.
The amounts allocated to each account and accumulations on the account may be invested and reinvested in any class of investments that may be authorized in the agreement without regard to any requirements or limitations prescribed by the laws of this state governing the investments of life insurance companies.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-3. - Gains or losses allocated to each account.

§ 27-32-3. Gains or losses allocated to each account.
The income, if any, and gains and losses, realized or unrealized on each account shall be credited to or charged against the amounts allocated to the account in accordance with the agreement, without regard to other income, gains, or losses of the company.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-4. - Valuation of accounts.

§ 27-32-4. Valuation of accounts.
Assets allocated to a separate account shall be valued at their market value on the date of valuation, or if there is no readily available market, then in accordance with the terms of the applicable written agreement; provided, that the portion of the assets of a separate account at least equal to the company’s reserve liability with regard to guaranteed benefits and funds, if any, shall be valued in accordance with the rules applicable to the company’s assets.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-5. - Benefits on variable basis.

§ 27-32-5. Benefits on variable basis.
If the agreement provides for the payment of benefits in variable amounts, it shall contain a statement of the essential features of the procedure to be followed by the company in determining the dollar amount of the variable benefits. Any agreement and any certificate issued under it shall state that the dollar amount may decrease or increase and shall contain on its first page a statement that the benefits under it are on a variable basis.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-6. - Prerequisites to delivery of contract — Qualification of company.

§ 27-32-6. Prerequisites to delivery of contract — Qualification of company.
No domestic life insurance company, and no other life insurance company admitted to transact business in this state, shall be authorized to deliver within this state any agreement providing benefits in variable amounts until the company has satisfied the insurance commissioner that its condition or methods of operation in connection with the issuance of those agreements will not render its operation hazardous to the public or its policyholders in this state. In determining the qualification of a company requesting authority to deliver the contracts within this state, the insurance commissioner shall consider, among other things:
(1)
The history and financial condition of the company;
(2)
The character, responsibility, and general fitness of the officers and directors of the company; and
(3)
In the case of a company other than a domestic company, whether the regulation provided by the jurisdiction of its incorporation provides a degree of protection to policyholders and the public that is substantially equal to that provided by this chapter and the rules and regulations issued pursuant to this chapter.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-7. - Regulation of issuance and sale of agreements — Rules and regulations.

§ 27-32-7. Regulation of issuance and sale of agreements — Rules and regulations.
Notwithstanding any other provisions of law, the insurance commissioner shall have sole authority to regulate the issuance and sale of the agreements and to issue reasonable rules and regulations necessary to carry out the purposes and provisions of this chapter. Provided, the insurance commissioner shall license any person selling annuities.
History of Section.
P.L. 1966, ch. 161, § 1; P.L. 1996, ch. 354, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-8. - Application of insurance laws to separate accounts.

§ 27-32-8. Application of insurance laws to separate accounts.
Except as otherwise provided in this chapter, all pertinent provisions of the insurance laws of this state shall apply to separate accounts and agreements relating to them.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-8.1. - Individual variable life insurance.

§ 27-32-8.1. Individual variable life insurance.
Any individual variable life insurance contract delivered or issued for delivery in this state shall contain nonforfeiture provisions appropriate to this type of contract as approved by the director of business regulation.
History of Section.
P.L. 1977, ch. 75, § 1; P.L. 2002, ch. 292, § 60.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-32 - Pension, Profit Sharing, or Annuity Plans › Section 27-32-9. - Severability.

§ 27-32-9. Severability.
If any provision of this chapter or application of it to any person or circumstance is held invalid, this invalidity shall not affect other provisions or applications of the chapter, which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared severable.
History of Section.
P.L. 1966, ch. 161, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-1. - Purposes.

§ 27-33-1. Purposes.
The purposes of this chapter are: (1) To make basic property insurance available to qualified applicants who have been unable to secure the insurance in the normal market, and (2) To create a fund to discharge the obligations of the state to the Secretary of the Department of Housing and Urban Development, referred to in this chapter as “the secretary,” under 12 U.S.C. § 1749bbb-9, referred to in this chapter as “the Act,” as and when those obligations shall occur, in order that insurers writing property insurance in this state may not for lack of a fund be rendered ineligible for reinsurance as provided under the Act.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-2. - Participation.

§ 27-33-2. Participation.
Each domestic insurer and all insurers licensed to write those classes of insurance listed in §§ 27-8-1 and 27-8-3 in the state, on a direct basis, shall participate in the basic property insurance and placement program established in this state in furtherance of 12 U.S.C. § 1749bbb et seq., commonly known as the FAIR (Fair Access to Insurance Requirements) plan. Failure to comply with this provision may be grounds for revocation, suspension, or nonrenewal of any license.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-3. - Inspection and statements.

§ 27-33-3. Inspection and statements.
There shall be no liability on the part of, and no cause of action of any nature shall arise against insurers, any inspection bureau, placement facility, or underwriting association, or their directors, agents, or employees, or the director of business regulation or his or her authorized representatives, for any inspections undertaken or statements made by any of them concerning the property to be insured, and any reports and communications in connection with any inspections or statements shall not be considered public documents.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-4. - Creation of fund.

§ 27-33-4. Creation of fund.
There is created a fund to be known as the “federal riot reinsurance reimbursement fund,” referred to in this chapter as “the fund,” which shall be operated under the joint control of the general treasurer and the director of business regulation. The fund shall consist of all of the payments made to the fund by insurers in accordance with the provisions of this chapter. The tax administrator shall have the same power to enforce the collection of the assessments provided under this chapter as any other obligations due the state.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-5. - Reimbursement of the secretary.

§ 27-33-5. Reimbursement of the secretary.
The fund shall reimburse the secretary in an amount up to five percent (5%) of the aggregate property insurance premiums earned in this state during the calendar year immediately preceding the calendar year, with respect to which the secretary paid losses on lines of insurance reinsured by him or her in this state during that year, and for which he or she claims reimbursement from the fund in accordance with the act.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-6. - Post-assessment funding.

§ 27-33-6. Post-assessment funding.
Whenever the secretary shall, in accordance with the Act, present to the state a request for reimbursement under the Act, the fund shall immediately assess all insurers that, during the calendar year with respect to which reimbursement is requested by the secretary, were chartered or licensed or engaged in writing those classes of insurance listed in §§ 27-8-1 and 27-8-3. The amount of each insurer’s assessment shall be calculated by multiplying the amount of the reimbursement requested by the secretary by a fraction the numerator of which is the insurer’s premiums actually written in this state in that calendar year and the denominator of which is the aggregate of the written premiums for all insurers. Insurers may add to the premiums applicable to the lines on which the assessment is levied, an amount to be approved by the insurance commissioner, sufficient to recover within not more than three (3) years any amounts assessed under this section during the preceding calendar year together with the amount of costs and expenses reasonably attributable to the assessments and recovery of them.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-7. - Authorization of payment.

§ 27-33-7. Authorization of payment.
The fund shall reimburse the secretary, up to amounts actually collected by it, upon drafts or vouchers duly authorized by the general treasurer with the approval of the director of business regulation.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-8. - Insolvency.

§ 27-33-8. Insolvency.
In the event any insurer fails, by reason of insolvency, to pay any assessment, the fund shall cause the reimbursement ratios, computed under § 27-33-6, to be immediately recalculated, excluding from them the insolvent insurer, so that its assessment is in effect, assumed, and redistributed among the remaining insurers.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-9. - Alternate preassessment funding.

§ 27-33-9. Alternate preassessment funding.
In the event of a determination by the secretary that the provisions of this chapter are not sufficient to meet the requirements of 12 U.S.C. § 1749bbb-9, the fund shall, with respect to the calendar year in which the determination is made and for each calendar year after that, assess premiums written in this state an amount equal to the maximum for which the fund would be liable to the secretary for that calendar year. As soon as practicable after the close of a calendar year, the fund shall, in accordance with the formula provided in § 27-33-6, calculate the actual liability for reimbursement to the secretary for that calendar year. The difference between the actual liability calculated and the amount previously assessed and paid with respect to that calendar year under this section shall be credited by the fund toward any assessment for any subsequent calendar year.
History of Section.
P.L. 1969, ch. 211, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-10. - “Basic property insurance” defined.

§ 27-33-10. “Basic property insurance” defined.
“Basic property insurance” for the purposes of this chapter means fire, extended coverage, vandalism, malicious mischief, broad and special form dwelling coverage commonly referred to as DP-2 and DP-3, and sprinkler leakage insurance. It shall also include homeowners package coverages that include dwelling and tenant forms, as well as the general liability coverages for one (1) to four (4) family owner and nonowner occupied dwellings, either by endorsement or as a stand-alone policy. The FAIR Plan shall be authorized to make rate filings using the standard that rates shall not be excessive, inadequate, or unfairly discriminatory, giving due consideration to the past and prospective loss and expense experience for basic property insurance, written in this state, trends in the frequency and severity of losses, the investment income of the FAIR Plan, and such other information as the director of business regulation may require. All rates shall be calculated to be self-supporting consistent with sound actuarial principles. Rates for basic property insurance shall be approved by the department of business regulation, notwithstanding any limits on rate approval authority. Nothing in this section shall be deemed to affect the duty of licensed insurers in the state of Rhode Island to participate, as needed, on a direct basis, in the program pursuant to §§ 27-33-2 and 27-33-11 and any rules and regulations promulgated thereunder, and to pay their proportionate share of losses and expenses incurred by the program upon assessment by the program.
History of Section.
P.L. 1971, ch. 271, § 1; P.L. 1972, ch. 165, § 1; P.L. 1981, ch. 83, § 1; P.L. 2003, ch. 335, § 1; P.L. 2003, ch. 357, § 1; P.L. 2006, ch. 158, § 1; P.L. 2006, ch. 204, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund › Section 27-33-11. - Rules and regulations.

§ 27-33-11. Rules and regulations.
The director of business regulation may issue rules, regulations, and orders necessary to carry out the purposes of this chapter. The director is specifically empowered to require that basic property insurance as defined in § 27-33-10 and any other insurance that may be required or suggested by the federal insurance administrator for inclusion be made available under the FAIR plan. Any regulation requiring coverage described in this section that has been promulgated by the insurance commissioner is ratified and confirmed.
History of Section.
P.L. 1971, ch. 271, § 1; P.L. 1998, ch. 441, § 23.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-1. - Short title.

§ 27-34-1. Short title.
This chapter shall be known and may be cited as the “Rhode Island Property & Casualty Insurance Guaranty Association Act.”
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-2. - Purpose.

§ 27-34-2. Purpose.
The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to the extent provided in this chapter, minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to provide an association to assess the cost of such protection among insurers.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-4. - Construction.

§ 27-34-4. Construction.
This chapter shall be liberally construed to effect the purpose under § 27-34-2 which will constitute an aid and guide to interpretation.
History of Section.
P.L. 1988, ch. 407, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-6. - Creation of the association.

§ 27-34-6. Creation of the association.
There is created a nonprofit unincorporated legal entity to be known as the “Rhode Island Property & Casualty Insurance Guaranty Association,” such entity formerly known as the “Rhode Island insurers’ insolvency fund.” All insurers defined as member insurers in § 27-34-5 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under § 27-34-9 and shall exercise its powers through a board of directors established under § 27-34-7. For the purposes of administration and assessment, there shall be three (3) separate accounts: (1) The workers’ compensation insurance account; (2) The automobile insurance account; and (3) The account for all other insurance to which this chapter applies.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-10. - Duties and powers of the commissioner.

§ 27-34-10. Duties and powers of the commissioner.
(a)
The commissioner shall:
(1)
Notify the association of the existence of an insolvent insurer not later than three (3) days after he or she receives notice of the determination of the insolvency. The association shall be entitled to a copy of a complaint seeking an order of liquidation with a finding of insolvency against a member company at the same time that the complaint is filed with a court of competent jurisdiction; and
(2)
Provide the association with a statement of the net direct written premiums of each member insurer upon request of the board of directors.
(b)
The commissioner may:
(1)
Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on a member insurer that fails to pay an assessment when due. The fine shall not exceed five percent (5%) of the unpaid assessment per month, except that a fine not be less than one hundred dollars ($100) per month;
(2)
Revoke the designation of any servicing facility if he or she finds claims are being handled unsatisfactorily; and
(3)
Examine, audit, or otherwise regulate the association.
(c)
A final action or order of the commissioner under this chapter shall be subject to judicial review in a court of competent jurisdiction.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 1996, ch. 188, § 14; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-10.5. - Coordination among guaranty associations.

§ 27-34-10.5. Coordination among guaranty associations.
(a)
The association may join one or more organizations of other state associations of similar purposes, to further the purposes and administer the powers and duties of the association. The association may designate one or more of these organizations to act as a liaison for the association and, to the extent the association authorizes, to bind the association in agreements or settlements with receivers of insolvent insurance companies or their designated representatives.
(b)
The association, in cooperation with other obligated or potentially obligated guaranty associations, or their designated representatives, shall make all reasonable efforts to coordinate and cooperate with receivers, or their designated representatives, in the most efficient and uniform manner, including the use of uniform data standards as promulgated or approved by the National Association of Insurance Commissioners.
History of Section.
P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-11. - Effect of paid claims.

§ 27-34-11. Effect of paid claims.
(a)
Any person recovering under this chapter shall be deemed to have assigned any rights under the policy to the association to the extent of his or her recovery from the association. Every insured or claimant seeking the protection of this chapter shall cooperate with the association to the same extent as the person would have been required to cooperate with the insolvent insurer. The association shall have no cause of action against the insured of the insolvent insurer for sums it has paid out except any causes of action as the insolvent insurer would have had if the sums had been paid by the insolvent insurer and except as provided in subsection (b) of this section and § 27-34-11.5. In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association shall not operate to reduce the liability of the insureds to the receiver, liquidator, or statutory successor for unpaid assessments.
(b)
The association shall have the right to recover from a person who is an affiliate of the insolvent insurer all amounts paid by the association on behalf of that person pursuant to the chapter, whether for indemnity, defense, or otherwise.
(c)
The receiver, liquidator, or statutory successor of an insolvent insurer shall be granted the utmost deference with regard to settlements of covered claims by the fund or a similar organization in another state.
(d)
The association and any association similar to the association in another state shall be entitled to file a claim in the liquidation of an insolvent insurer for any amounts paid by them on covered claim obligations as determined under this chapter or similar laws in other states and shall receive dividends and other distributions at the priority set forth in § 27-14.3-46.
(e)
The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association which shall preserve the rights of the association against the assets of the insolvent insurer.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 1999, ch. 498, § 1; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-11.5. - Net worth exclusion.

§ 27-34-11.5. Net worth exclusion.
(a)
For purposes of this section, “high net worth insured” shall mean any insured, excluding state and local governments, whose net worth exceeds fifty million dollars ($50,000,000) on December 31 of the year prior to the year in which the insurer becomes an insolvent insurer; provided that an insured’s net worth on that date shall be deemed to include the aggregate net worth of the insured and all of its subsidiaries and affiliates as calculated on a consolidated basis.
(b)(1)
The association shall not be obligated to pay any first-party claims by a high net worth insured.
(2)
The association shall have the right to recover from the high net worth insured all amounts paid by the association to or on behalf of such insured, whether for indemnity, defense, or otherwise.
(c)
The association shall not be obligated to pay any claim that would otherwise be a covered claim that is an obligation to or on behalf of a person who has a net worth greater than that allowed by the insurance guaranty association law of the state of residence of the claimant at the time specified by that state’s applicable law, and which association has denied coverage to that claimant on that basis.
(d)
The association shall establish reasonable procedures subject to the approval of the commissioner for requesting financial information from insureds on a confidential basis for purposes of applying this section, provided that the financial information may be shared with any other association similar to the association and the liquidator for the insolvent insurer on the same confidential basis. Any request to an insured seeking financial information must advise the insured of the consequences of failing to provide the financial information. If an insured refuses to provide the requested financial information where it is requested and available, the association may, until such time as the information is provided, provisionally deem the insured to be a high net worth insured for the purpose of denying a claim under subsection (b).
(e)
In any lawsuit contesting the applicability of this section where the insured has refused to provide financial information under the procedure established pursuant to subsection (d), the insured shall bear the burden of proof concerning its net worth at the relevant time. If the insured fails to prove that its net worth at the relevant time was less than the applicable amount, the court shall award the association its full costs, expenses, and reasonable attorney’s fees in contesting the claim.
History of Section.
P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-12.5. - Prevention of insolvencies.

§ 27-34-12.5. Prevention of insolvencies.
To aid in the detection and prevention of insurer insolvencies:
(1)
The board of directors may, upon a majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.
(2)
At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may, upon a majority vote, prepare a report on the history and causes of the insolvency, based on the information available to the association and submit the report to the commissioner.
(3)
Reports and recommendations provided under this section shall not be considered public documents.
History of Section.
P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-13. - Repealed.

§ 27-34-13. Repealed.
History of Section.
P.L. 1988, ch. 407, § 2; Repealed by P.L. 2010, ch. 91, § 2, effective June 19, 2010, and by P.L. 2010, ch. 117, § 2, effective June 22, 2010.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-14. - Tax exemption.

§ 27-34-14. Tax exemption.
The association shall be exempt from the payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real or personal property.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-15. - Recoupment of assessments.

§ 27-34-15. Recoupment of assessments.
The rates and premiums charged for insurance policies to which this section applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-16. - Immunity.

§ 27-34-16. Immunity.
There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer, the association, or its agents or employees, the board of directors, or any persons serving as an alternate or substitute representative of any director, or the commissioner or his or her representatives for any action taken or any failure to act by them in the performance of their powers and duties under this chapter.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-17. - Stay of proceedings.

§ 27-34-17. Stay of proceedings.
All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall, subject to waiver by the association in specific cases involving covered claims, be stayed for six (6) months and such additional time as may be determined by the court from the date the insolvency is determined or an ancillary proceeding is instituted in this state, whichever is later, to permit proper defense by the association of all pending causes of action. The liquidator, receiver, or statutory successor of an insolvent insurer covered by this chapter shall permit access by the board or its authorized representative to such of the insolvent insurer’s records that are necessary for the board in carrying out its functions under this chapter with regard to covered claims. In addition, the liquidator, receiver, or statutory successor shall provide the board or its representative with copies of the records upon the request by the board and at the expense of the board.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-18. - Repealed.

§ 27-34-18. Repealed.
History of Section.
P.L. 1988, ch. 407, § 2; Repealed by P.L. 2010, ch. 91, § 2, effective June 19, 2010, and by P.L. 2010, ch. 117, § 2, effective June 22, 2010.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association › Section 27-34-19. - Prohibition against advertising of membership in association.

§ 27-34-19. Prohibition against advertising of membership in association.
No person shall make, publish, or circulate, or cause to be made, published, or circulated, any statement that uses the existence of the association for the purposes of sale, solicitation, or inducement to purchase any form of insurance within the scope of this chapter.
History of Section.
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-1. - Purpose.

§ 27-34.2-1. Purpose.
The purpose of this chapter is to promote the public interest, to promote the availability of long-term care insurance policies, to protect applicants for long-term care insurance, as defined, from unfair or deceptive sales or enrollment practices, to establish standards for long-term care insurance, to facilitate public understanding and comparison of long-term care insurance policies, and to facilitate flexibility and innovation in the development of long-term care insurance coverage.
History of Section.
P.L. 1988, ch. 201, § 1; P.L. 2007, ch. 239, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-2. - Scope.

§ 27-34.2-2. Scope.
Long-term care insurance is deemed to be accident and health insurance and is classified as such for the purposes of chapter 34.3 of this title, the Rhode Island Life and Health Insurance Guaranty Association Act. The requirements of this chapter apply to policies delivered or issued for delivery in this state, except as provided in § 27-34.2-5. This chapter is not intended to supersede the obligations of entities subject to this chapter to comply with the substance of other applicable insurance laws insofar as they do not conflict with this chapter. The benefits required for long-term care insurance shall only be the benefits specified in this chapter and in regulations promulgated under § 27-34.2-16.
History of Section.
P.L. 1988, ch. 201, § 1; P.L. 1993, ch. 443, § 1; P.L. 1993, ch. 457, § 1; P.L. 2002, ch. 292, § 78; P.L. 2008, ch. 18, § 1; P.L. 2008, ch. 22, § 1; P.L. 2023, ch. 395, art. 1, § 11, effective December 31, 2023.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-5. - Extraterritorial jurisdiction — Group long-term care insurance.

§ 27-34.2-5. Extraterritorial jurisdiction — Group long-term care insurance.
No group long-term care insurance coverage may be offered to a resident of this state under a group policy issued in another state to a group described in § 27-34.2-4(4)(v), unless this state or another state having statutory and regulatory long-term care insurance requirements substantially similar to those adopted in this state has made a determination that those requirements have been met.
History of Section.
P.L. 1988, ch. 201, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-7.1. - Incontestability period.

§ 27-34.2-7.1. Incontestability period.
(a)
For a policy or certificate that has been in force for less than six (6) months, an insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim upon a showing of misrepresentation that is material to the acceptance for coverage.
(b)
For a policy or certificate that has been in force for at least six (6) months, but less than two (2) years, an insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim upon a showing of misrepresentation that is both material to the acceptance for coverage and that pertains to the condition for which benefits are sought.
(c)
After a policy or certificate has been in force for two (2) years, it is not contestable upon the grounds of misrepresentation alone; the policy or certificate may be contested only upon a showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured’s health.
(d)
A long-term care insurance policy or certificate may be field issued if the compensation to the field issuer is not based on the number of policies or certificates issued. For the purposes of this section, “field issued” means a policy or certificate issued by a producer or a third-party administrator pursuant to the underwriting authority granted to the producer or third-party administrator by an insurer and using the insurer’s underwriting guidelines.
(e)
If an insurer has paid benefits under the long-term care insurance policy or certificate, the benefit payments may not be recovered by the insurer in the event that the policy or certificate is rescinded.
(f)
In the event of the death of the insured, this section shall not apply to the remaining death benefit of a life insurance policy that accelerates benefits for long-term care. In this situation, the remaining death benefits under these policies shall be governed by chapter 4 of this title. In all other situations, this section shall apply to life insurance policies that accelerate benefits for long-term care.
History of Section.
P.L. 2007, ch. 239, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-8. - Discretionary powers of director.

§ 27-34.2-8. Discretionary powers of director.
The director may upon written request issue an order to modify or suspend a specific provision or provisions of regulations adopted pursuant to this chapter, and may upon written request permit the use of waivers or riders, with respect to a specific long-term care insurance policy or certificate upon a written finding that:
(1)
The modification or suspension would be in the best interest of the insureds;
(2)
The purposes to be achieved could not be effectively or efficiently achieved without the modification or suspension; and
(3)(i)
The modification or suspension is necessary to the development of an innovative and reasonable approach for insuring long-term care;
(ii)
The policy or certificate is to be issued to residents of a life care or continuing care retirement community or some other residential community for the elderly and the modification or suspension is reasonably related to the special needs or nature of the community; or
(iii)
The modification or suspension is necessary to permit long-term care insurance to be sold as part of, or in conjunction with, another insurance product.
History of Section.
P.L. 1988, ch. 201, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-9. - Administrative procedures.

§ 27-34.2-9. Administrative procedures.
Regulations adopted pursuant to this chapter shall be in accordance with the provisions of chapter 35 of title 42.
History of Section.
P.L. 1988, ch. 201, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-10. - Enforcement and penalties.

§ 27-34.2-10. Enforcement and penalties.
(a)(1)
If the director for any reason has cause to believe that any violation of this chapter has occurred or is threatened, the director may give notice to any persons who appear to be involved in the suspected violation to arrange a conference with the alleged violators or their authorized representatives for the purposes of attempting to ascertain the facts relating to the suspected violation, and, in the event it appears that any violation has occurred or is threatened, to arrive at an adequate and effective means of correcting or preventing the violation.
(2)
Proceedings under this subsection (a) are to be governed by chapter 35 of title 42.
(b)(1)
The director may issue an order directing any persons to cease and desist from engaging in any act or practice in violation of the provisions of this chapter.
(2)
Within thirty (30) days after service of the order to cease and desist, the respondent may request a hearing on the question of whether acts or practices in violation of this chapter have occurred. The hearings shall be conducted pursuant to §§ 42-35-9 — 42-35-13 and judicial review shall be available as provided by §§ 42-35-15 and 42-35-16.
(c)
The director may, upon a finding that provisions of this chapter have been violated, levy an administrative penalty in an amount not less than five hundred dollars ($500) nor more than fifty thousand dollars ($50,000), if reasonable notice in writing is given of the intent to levy the penalty and the persons alleged to have violated this chapter have a reasonable time in which to remedy the defect in its operations that gave rise to the penalty citation.
History of Section.
P.L. 1988, ch. 201, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-15. - Requirement to deliver shopper’s guide.

§ 27-34.2-15. Requirement to deliver shopper’s guide.
(a)
A long-term care insurance shopper’s guide in the format developed by the National Association of Insurance Commissioners, or a guide developed or approved by the director, shall be provided to all prospective applicants of a long-term care insurance policy or certificate.
(b)
In the case of insurance producer solicitations, an insurance producer must deliver the shopper’s guide prior to the presentation of an application or enrollment form.
(c)
In the case of direct response solicitations, the shopper’s guide must be presented in conjunction with any application or enrollment form.
(d)
Life insurance policies or riders containing accelerated long-term care benefits are not required to furnish the shopper’s guide, but shall furnish the required policy summary.
History of Section.
P.L. 1993, ch. 443, § 2; P.L. 1993, ch. 457, § 2; G.L. 1956, § 27-34.2-16.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-16. - Authority to promulgate regulations.

§ 27-34.2-16. Authority to promulgate regulations.
The director shall issue reasonable regulations to promote premium adequacy and to protect the policymaker in the event of substantial rate increases, and to establish minimum standards for producer education, marketing practices, producer compensation, producer testing, penalties, and reporting practices for long-term care insurance.
History of Section.
P.L. 1993, ch. 443, § 2; P.L. 1993, ch. 457, § 2; G.L. 1956, § 27-34.2-17; P.L. 2007, ch. 239, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-18. - Pre-certification for Medicaid protection of resources.

§ 27-34.2-18. Pre-certification for Medicaid protection of resources.
The department of business regulation shall pre-certify long-term care insurance policies that meet all other applicable requirements imposed by this chapter and that:
(1)
Offer the option of home and community based services in addition to nursing home care;
(2)
In all home care plans, include case management services which services shall include, but need not be limited to, the development of a comprehensive individualized assessment and care plan and, as needed, the coordination of appropriate services and the monitoring of the delivery of those services;
(3)
Provide inflation protection;
(4)
Provide for the keeping of records and an explanation of benefit reports on insurance payments that count toward Medicaid resource exclusion; and
(5)
Provide the management information and reports necessary to document the extent of Medicaid resources protection offered and to evaluate the Rhode Island partnership for long-term care. No policy shall be precertified if it requires prior hospitalization or a prior stay in a nursing home as a condition of providing benefits. The department of business regulation may adopt regulations to carry out the precertification provisions of this section.
History of Section.
P.L. 1993, ch. 454, § 2; G.L. 1956, § 27-34.2-19.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-19. - Nonforfeiture benefits.

§ 27-34.2-19. Nonforfeiture benefits.
(a)
Except as provided in subsection (b), a long-term care insurance policy may not be delivered or issued for delivery in this state unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate including a nonforfeiture benefit. The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy. In the event the policyholder or certificateholder declines the nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that shall be available for a specified period of time following a substantial increase in premium rates.
(b)
When a group long-term care insurance policy is issued, the offer required in subsection (a) shall be made to the group policyholder. However, if the policy is issued as group long-term care insurance as defined in § 27-34.2-4(4)(v), other than to a continuing care retirement community or other similar entity, the offering shall be made to each proposed certificate holder.
(c)
The commissioner shall promulgate regulations specifying the type or types of nonforfeiture benefits to be offered as part of long-term care insurance policies and certificates, the standards for nonforfeiture benefits, and the rules regarding contingent benefit upon lapse, including a determination of the specified period of time during which a contingent benefit upon lapse will be available and the substantial premium rate increase that triggers a contingent benefit upon lapse as described in subsection (a).
History of Section.
P.L. 1997, ch. 153, § 2; P.L. 1997, ch. 161, § 2; G.L. 1956, § 27-34.2-20; P.L. 2007, ch. 239, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-34.2 - Long-Term Care Insurance › Section 27-34.2-20. - Severability.

§ 27-34.2-20. Severability.
If any provision of this chapter or the application of any provision to any person or circumstances is for any reason held to be invalid, the remainder of the chapter and the application of the provision to other persons or circumstances shall not be affected by that invalidity.
History of Section.
P.L. 1988, ch. 201, § 1; G.L. 1956, § 27-34.2-11.