reglab/statecodes huggingface dataset:
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 45 - Financial Standards and Corporate Operations › Part 10 - Captive Insurance Financial Regulation (230-RICR-20-45-10) › Section 230-RICR-20-45-10.5 - Severability

Current through June 14, 2024
If any section, term, or provision of this Regulation shall
					 be adjudged invalid for any reason, that judgement shall not effect, impair, or
					 invalidate any remaining section, term, or provision, which shall remain in
					 full force and effect.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 45 - Financial Standards and Corporate Operations › Part 11 - Corporate Governance (230-RICR-20-45-11) › Section 230-RICR-20-45-11.1 - Authority

Current through June 14, 2024
This regulations is promulgated pursuant to the authority
					 granted R.I. Gen. Laws §
										27-1.2-4.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 45 - Financial Standards and Corporate Operations › Part 11 - Corporate Governance (230-RICR-20-45-11) › Section 230-RICR-20-45-11.2 - Purpose

Current through June 14, 2024
The purpose of this regulation is to set forth the
					 procedures for filing and the required contents of the Corporate Governance
					 Annual Disclosure (CGAD), deemed necessary by the Department to carry out the
					 provisions of R.I. Gen. Laws §
										27-1.2.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 45 - Financial Standards and Corporate Operations › Part 11 - Corporate Governance (230-RICR-20-45-11) › Section 230-RICR-20-45-11.3 - Definitions

Current through June 14, 2024
A. For the purpose of this Regulation the
				  following definitions shall apply:
1.
				  "Department" shall mean the Department of Business Regulation, Insurance
				  Division.
2. "Insurance group." For
				  the purpose of this Act, the term "insurance group" shall mean those insurers
				  and affiliates included within an insurance holding company system as defined
				  in R.I. Gen. Laws §§
											27-35.
3. "Insurer." The term "insurer" shall have
				  the same meaning as set forth in R.I. Gen. Laws §
											27-54.1-1(5),
				  except that it shall not include agencies, authorities or instrumentalities of
				  the United States, its possessions and territories, the Commonwealth of Puerto
				  Rico, the District of Columbia, or a state or political subdivision of a
				  state.
4. "Senior Management." The
				  term "senior management" shall mean any corporate officer responsible for
				  reporting information to the board of directors at regular intervals or
				  providing this information to shareholders or regulators and shall include, for
				  example and without limitation, the Chief Executive Officer ("CEO"), Chief
				  Financial Officer ("CFO"), Chief Operations Officer ("COO"), Chief Procurement
				  Officer ("CPO"), Chief Legal Officer ("CLO"), Chief Information Officer
				  ("CIO"), Chief Technology Officer ("CTO"), Chief Revenue Officer ("CRO"), Chief
				  Visionary Officer ("CVO"), or any other "C" level executive.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 45 - Financial Standards and Corporate Operations › Part 11 - Corporate Governance (230-RICR-20-45-11) › Section 230-RICR-20-45-11.5 - Contents of Corporate Governance Annual Disclosure

Current through June 14, 2024
A. The insurer or insurance group shall be as
				  descriptive as possible in completing the CGAD, with inclusion of attachments
				  or example documents that are used in the governance process, since these may
				  provide a means to demonstrate the strengths of their governance framework and
				  practices.
B. The CGAD shall
				  describe the insurers or insurance group's corporate governance framework and
				  structure including consideration of the following.
1. The Board and various committees thereof
				  ultimately responsible for overseeing the insurer or insurance group and the
				  level(s) at which that oversight occurs (e.g., ultimate control level,
				  intermediate holding company, legal entity, etc.). The insurer or insurance
				  group shall describe and discuss the rationale for the current Board size and
				  structure; and
2. The duties of
				  the Board and each of its significant committees and how they are governed
				  (e.g., bylaws, charters, informal mandates, etc.), as well as how the Board's
				  leadership is structured, including a discussion of the roles of Chief
				  Executive Officer (CEO) and Chairman of the Board within the
				  organization.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 45 - Financial Standards and Corporate Operations › Part 11 - Corporate Governance (230-RICR-20-45-11) › Section 230-RICR-20-45-11.6 - Severability Clause

Current through June 14, 2024
If any provision of this regulation, or the application
					 thereof to any person or circumstance, is held invalid, such determination
					 shall not affect other provisions or applications of these regulations which
					 can be given effect without the invalid provision or application, and to that
					 end the provisions of these regulations are severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.1 - Authority

Current through June 14, 2024
This Part is promulgated pursuant to R.I. Gen. Laws Chapter
					 27-3.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.2 - Purpose

Current through June 14, 2024
The purpose of this Part is to outline requirements for
					 Rhode Island Surplus Line Brokers. This Part should be read in conjunction with
					 the requirements contained in R.I. Gen. Laws Chapter 27-3.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.3 - Definitions

Current through June 14, 2024
A. As used in this Part:
1. "Approved surplus line insurer" means an
				  insurer which has satisfied the Department's requirements, pursuant to R.I.
				  Gen. Laws §
											27-3-40, and has been placed by
				  the Department on a list maintained by the Department of Surplus Line Insurers
				  which may issue policies in Rhode Island.
2. "Broker" means an individual who holds a
				  valid and current Surplus Line Broker's license issued by the Department at the
				  time the insurance is placed with an Approved Surplus Line Insurer.
3. "Diligent effort" means submission of the
				  risk(s) by the Broker, or a licensed Producer working with the Broker, to no
				  fewer than three (3) Licensed Insurers.
4. "Department" means the Department of
				  Business Regulation, Division of Insurance.
5. "Insurance producer" or "Producer" means
				  an individual or entity licensed pursuant to R.I. Gen. Laws Chapter
				  27-2.4.
6. "Licensed insurer" means
				  an insurer who is licensed to issue insurance in Rhode Island pursuant to R.I.
				  Gen. Laws Chapters 27-1 and 27-2.
7. "Procurable" means that the insurance can
				  be obtained from a Licensed Insurer.
8. "Tax administrator" means the governmental
				  official charged with collecting tax from licensed surplus line brokers and/or
				  insurers.
9. "Unauthorized insurer"
				  means an insurer that is neither licensed to issue insurance in Rhode Island
				  nor on the Department's list of Approved Surplus Line Insurers.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.4 - Licensing Requirements

Current through June 14, 2024
A. A resident
				  Broker's license may only be held by a person who holds a Property &
				  Casualty Insurance Producer license issued pursuant to R.I. Gen. Laws Chapter
				  27-2.4. Brokers are subject to all provisions applicable to licensed Insurance
				  Producers in Rhode Island as well as the additional requirements contained in
				  this Part and R.I. Gen. Laws Chapter 27-3. In order to obtain a Broker's
				  license a resident Producer licensed in Rhode Island must submit an as
				  prescribed by the Department and processed by the National Insurance Producer
				  Register ("NIPR").
B. In accordance
				  with R.I. Gen. Laws §
										27-2.4-10(d) any
				  person licensed as a surplus line broker in his or her home state shall be
				  eligible for a nonresident surplus line broker license. Nonresident surplus
				  line brokers must submit an application as prescribed by the Department and
				  processed by the National Insurance Producer Register ("NIPR").
C. Brokers who are residents of the State of
				  Rhode Island shall file with the General Treasurer of Rhode Island a bond in
				  the penal sum of twenty-five thousand dollars ($25,000) executed by the Broker
				  as principal and by a surety company licensed to transact business in Rhode
				  Island as surety. The resident Broker shall deposit with the Department a
				  certificate from the General Treasurer that the resident Broker has filed said
				  bond.
D. Pursuant to R.I. Gen.
				  Laws Chapter 27-2.4, a non-resident seeking to be licensed as a Surplus Line
				  Broker must comply with the statutes and Regulations of his or her state of
				  residence regarding bond requirements. If the nonresident state requires Rhode
				  Island residents to post a bond in the licensee's home state, the licensee must
				  post the bond required of residents in Rhode Island.
E. The bond shall be continuously in effect
				  while the Broker is licensed in Rhode Island. The bond may not be cancelled
				  unless the Department receives written notification, at least thirty (30) days
				  prior to cancellation, from the surety.
F. Should the bond be cancelled as outlined
				  above, the Broker's license shall be immediately suspended by the Department.
				  Said license shall not be reinstated until such time as a substitute bond
				  meeting the requirements of this Part and R.I. Gen. Laws §
										27-3-39 is posted, the Department
				  is notified of the posting and all other requirements of the license are
				  met.
G. The biennial fee for a
				  Broker's license is one hundred dollars ($100). Fees for other services
				  associated with licensing shall be set by regulation.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.6 - Affidavits

Current through June 14, 2024
A. The Broker and the insured shall execute
				  affidavits on each risk, other than those risks exempted by R.I. Gen. Laws
				  §
										27-3-38(c) and
				  §
										1.5(E)   of this Part, placed with an Approved Surplus Line Insurer in a
				  form substantially similar to that provided in a bulletin promulgated for that
				  purpose.
B. If the Affidavit
				  provided in a bulletin promulgated for that purpose is modified to allow for
				  electronic transactions all of the following must be included in the form
				  provided in a bulletin promulgated for that purpose or the affidavit will not
				  be considered substantially similar:
1. A
				  statement by the surplus line broker that (s)he has conducted a diligent search
				  and has been unable to place the insurance with a licensed insurer;
2. A statement by the surplus line broker
				  identifying the three insurers that declined the risk;
3. A statement by the surplus line broker
				  identifying the risk insured, the company issuing the policy, the amount of
				  insurance, the line of business, the policy number, term and expiration date
				  and the premium. The line of business shall be identified as one of the
				  following: automobile, homeowner, commercial property, commercial automobile,
				  medical malpractice, workers compensation, other personal and other
				  commercial;
4. A statement from the
				  insured indicating that he has been provided with all of the information in
				  §§
											1.6(B)(1), (2) and (3)   of this Part above and containing the
				  following in all caps, minimum 10-point type, immediately before the insured's
				  signature:
NOTICE
THIS INSURANCE CONTRACT HAS BEEN PLACED WITH AN
								INSURER NOT LICENSED TO DO BUSINESS IN THE STATE OF RHODE ISLAND BUT APPROVED
								AS A SURPLUS LINES INSURER. THE INSURER IS NOT A MEMBER OF THE RHODE ISLAND
								INSURERS INSOLVENCY FUND. SHOULD THE INSURER BECOME INSOLVENT, THE PROTECTION
								AND BENEFITS OF THE RHODE ISLAND INSURERS INSOLVENCY FUND ARE NOT
								AVAILABLE.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.7 - Annual Report

Current through June 14, 2024
A. Annually each
				  licensed surplus line broker shall report to the Department the total number of
				  policies and premium issued in the preceding calendar year in the form provided
				  in a bulletin promulgated for that purpose.
B. Said reports shall be filed no later than
				  April 1 of the next calendar year beginning on April 1, 2010.
C. Failure to file said report will
				  constitute violation of this Part which may subject the broker to discipline,
				  up to and including revocation of the broker and insurance producer
				  licenses.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.8 - Tax

Current through June 14, 2024
Prior to license renewal the Department will obtain
					 confirmation from the Tax Administrator that the Broker has paid a tax of four
					 per cent (4%) on the gross premiums charged the insured by the insurers for
					 policies invoiced on or after July 1, 2010 and three percent (3%) for policies
					 invoiced prior to July 1, 2010, less the amount of such premiums returned to
					 such insureds for risks placed pursuant to the Broker's license. The Department
					 will not renew the license of any Broker for whom the Tax Administrator does
					 not provide such confirmation.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 1 - Surplus Lines Brokers (formerly Insurance Regulation 11) (230-RICR-20-50-1) › Section 230-RICR-20-50-1.9 - Severability

Current through June 14, 2024
If any section, term, or provision of this Part should be
					 adjudged invalid for any reason, that judgment should not effect, impair, or
					 invalidate any remaining section, term, or provision, which shall remain in
					 full force and effect.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.1 - Authority

Current through June 14, 2024
This Part is promulgated in accordance with R.I. Gen. Laws
					 §
										27-3.2-8.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.2 - Purpose

Current through June 14, 2024
The purpose of this Part is to establish requirements and
					 standards for continuing education programs for individual resident insurance
					 producers.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.3 - Definitions

Current through June 14, 2024
A. As used in this Part:
1. "Continuing education course provider" or
				  "Provider" means any person or entity which is approved by the Department to
				  provide continuing education course(s) for insurance producers pursuant to R.I.
				  Gen. Laws Chapter 27-3.2.
2.
				  "Department" means Department of Business Regulation, Division of
				  Insurance.
3. "Director" means the
				  Director of the Department of Business Regulation or his or her
				  designee.
4. "License" means a
				  document issued by the Department authorizing a person to act as an insurance
				  producer for the lines of authority specified in the document. The license
				  itself does not create any authority, actual, apparent or inherent authority,
				  in the holder to represent or commit an insurance carrier.
5. "License renewal period" means each
				  biennial license period during which the individual holds the license prior to
				  the renewal date.
6. "NAIC" mean
				  National Association of Insurance Commissioners.
7. "Resident" means a person who either
				  resides in Rhode Island or maintains an office in Rhode Island where the
				  business of producing insurance is transacted and designates Rhode Island as
				  the residence for purposes of licensure.
8. "Reciprocal state" means any state which
				  grants nonresident insurance producer licenses to licensed Rhode Island
				  insurance producers without the necessity of examination on the basis of the
				  Rhode Island license.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.4 - Applicability

Current through June 14, 2024
A. This Part applies to resident insurance
				  producers licensed to engage in the sale of the following lines or class of
				  insurance:
1. Life insurance;
2. Accident & Health and Sickness
				  insurance;
3. Property
				  insurance;
4. Casualty insurance
				  and
5. Personal Lines.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.5 - Exemptions

Current through June 14, 2024
A. This chapter does not apply to:
1. Those residents holding licenses to sell
				  any kind or kinds of insurance for which an examination is not
				  required;
2. Residents holding
				  insurance producer licenses limited to credit, crop, travel, surety, car rental
				  or title insurance;
3. Non-resident
				  licensees who meet continuing education requirements established by the
				  insurance department in their home state if the home state is reciprocal with
				  the State of Rhode Island; or
4.
				  Residents holding a license continuously without a lapse of licensure for
				  twenty-five (25) years and who are age fifty-five (55) at the time of renewal.
a. A lapse has occurred if the producer's
				  license expired and was not reinstated.
b. A producer's license may be reinstated if
				  the producer submits an Application of License Reinstatement and pays the
				  renewal fee within thirty (30) days of expiration. If the application is
				  submitted more than thirty (30) days after expiration of the license, the
				  licensee must pay both the renewal fee and a reinstatement fee. If a license is
				  reinstated it is not considered to have lapsed. Licenses cannot be reinstated
				  more than one year after expiration.
c. A producer who reinstates must complete
				  continuing education in exactly the same manner as would have been required if
				  the license was renewed prior to the expiration date.
5. Any exemption granted by the
				  Department.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.6 - Educational Requirements

Current through June 14, 2024
A. Any person to
				  which this Part applies shall, for each biennial license period, satisfactorily
				  complete approved continuing education courses equivalent to a minimum of
				  twenty-four (24) accumulated credit hours including three (3) hours of
				  ethics.
B. A person teaching any
				  approved course of instruction or lecturing at any approved seminar shall
				  qualify for the same number of classroom hours as would be granted to a person
				  taking and successfully completing that course, seminar, or program.
C. Licensees who have relocated to Rhode
				  Island after being licensed in another state shall provide, on the first
				  renewal of the license, twenty-four (24) credits consisting of courses approved
				  either in the licensees' prior resident state or in Rhode Island. The
				  Department will accept a combination of such courses as long as the credits
				  submitted total twenty-four (24) including three (3) hours of ethics.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.7 - Approved Courses

Current through June 14, 2024
A. The following
				  are the categories of courses that are approved for continuing education
				  credit:
1. Rhode Island approved courses
a. All courses offered by providers located
				  in Rhode Island shall be submitted electronically to the Department for review
				  and approval. No fee shall be charged to providers located in Rhode Island for
				  that review. Any course or program of instruction, seminar or correspondence
				  course approved by the Department shall qualify for the number of hours
				  assigned to it by the Department.
(1) When
				  the course is given by classroom instruction the number of hours for which it
				  qualifies will be based on the number of actual classroom hours.
(2) For course given in whole or partly
				  online or by self-study, the provider shall fully describe its calculation of
				  the number of credit hours requested and the basis therefore.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.8 - Approved Providers and Course Submissions

Current through June 14, 2024
A.
				  Continuing Education Course Providers
1. Each
				  Continuing Education Course Provider shall register with the Department on a
				  form and in a manner designated by the Department.
2. Once registered the Provider may submit
				  courses for approval as described below. The provider is responsible for
				  keeping all information on file with the Department current.
3. There is a one hundred-dollar ($100)
				  initial fee and an annual fifty-dollar ($50) renewal fee for this
				  registration.
4. All Continuing
				  Education Course Providers shall renew their registration each year no later
				  than January 1 regardless of when the initial registration was made. If the
				  Provider fails to renew within thirty (30) days it will have to apply as a new
				  Provider. Any courses approved for a provider that has failed to renew will
				  have that approval terminated by virtue of the fact that the Provider has not
				  renewed.
5. Continuing Education
				  Course Providers shall submit course rosters electronically in accordance with
				  instructions received by the Department and pay a fee of one-dollar ($1) per
				  credit hour for each insurance producer who completes the course within ten
				  (10) days of completion of the course. Failure to file the roster
				  electronically shall be grounds to revoke the Providers ability to offer
				  courses in Rhode Island.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.9 - Compliance

Current through June 14, 2024
A. Any person licensed pursuant to this title
				  and not exempt under section  5   of this Part shall comply with all of the terms
				  and requirements of this chapter.
B. Up to twelve (12) excess continuing
				  education credits accumulated during a biennial license cycle may be carried
				  forward through the end of the next renewal period. Ethics credits will be
				  carried forward as general credits so that the required three (3) ethics credit
				  must be obtained during the biennial license cycle.
C. Although Providers are required to submit
				  completion of course credits electronically, residents are required to maintain
				  proof of the continuing education courses taken. Copies of these certificates
				  need be submitted only if requested by the Department. Producers have the
				  burden of showing compliance with continuing education requirements.
D. The Director, for good cause shown, may
				  grant an extension of time during which the requirements of this chapter may be
				  completed. Unless the Director finds extraordinary circumstances that extension
				  of time shall not exceed the period of one year.
E. If requested by the Department, every
				  person subject to the provisions of this chapter shall furnish, in a form
				  satisfactory to the Director, written certification as to the courses,
				  programs, or seminars of instruction taken and successfully completed by that
				  person. The certification shall be executed by or on behalf of the sponsoring
				  organization.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.10 - Penalty

Current through June 14, 2024
Any person failing to meet the requirements of this chapter
					 and who has not been granted an extension of time within which to comply or who
					 has submitted a false or fraudulent certificate of compliance, shall be subject
					 to any or all of the penalties in R.I. Gen. Laws §
										42-14-16. Such person will be
					 given the opportunity to dispute the allegations and/or penalty pursuant to
					 R.I. Gen. Laws Chapter 42-35. Any Provider that fails to comply with the
					 requirements of this Part, including electronic submission of credits, will be
					 subject to being removed from the list of providers approved to offer courses
					 in Rhode Island.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.11 - Fees

Current through June 14, 2024
A. All persons licensed pursuant to R.I. Gen.
				  Laws §
										27-2.4-1 et seq. shall pay a fee
				  of five dollars ($5) per annum along with continuing education
				  compliance.
B. All Continuing
				  Education Course Providers shall be charged a fee of sixty dollars ($60) for
				  the approval of each continuing education course submitted for approval. This
				  fee will be charged for each two-year period for which the Provider requests
				  approval.
C. All Continuing
				  Education Course Providers shall be charged an initial registration fee of one
				  hundred dollars ($100).
D. All
				  Continuing Education Course Providers shall be charged an annual renewal
				  registration fee of fifty dollars ($50).
E. All Continuing Education Course Providers
				  will be charged a fee of one dollar ($1) per credit hour for each insurance
				  producer who completes the course.
F. All Continuing Education Courses submitted
				  by providers domiciled in a state that is not reciprocal with Rhode Island will
				  be charged seventy-five dollars ($75) per course for course review.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.12 - Collection of Continuing Education Course Data

Current through June 14, 2024
The Department may contract with non-governmental entities,
					 including the NAIC or any affiliates or subsidiaries that the NAIC oversees, to
					 perform any ministerial functions, including the collection of continuing
					 education course data, related to licensing that the Department may deem
					 appropriate.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 2 - Continuing Education for Insurance Producers (formerly Insurance Regulation 40) (230-RICR-20-50-2) › Section 230-RICR-20-50-2.13 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to
					 any person or circumstances is held invalid or unconstitutional, the invalidity
					 or unconstitutionality shall not affect other provisions or applications of
					 this Part which can be given effect without the invalid or unconstitutional
					 provision or application, and to this end the provisions of this Part are
					 severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.1 - Authority

Current through June 14, 2024
This Part is promulgated pursuant to R.I. Gen. Laws
					 §§
										27-10.1-1
et seq.
and 42-14-17.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.2 - Purpose and Applicability

Current through June 14, 2024
A. This Part shall
				  apply to any person that practices as a business the appraising of damages to
				  motor vehicles being repaired under insurance policies.
B. The purpose of this Part is to establish
				  standards and procedures for the issuance of motor vehicle damage appraiser
				  licenses and to govern the conduct of motor vehicle damage
				  appraisers.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.3 - Definitions

Current through June 14, 2024
A. As used in this Part:
1. "Aftermarket part" means a motor vehicle
				  replacement part that is not an original equipment manufacturer part.
2. "Applicant" means a person applying for a
				  motor vehicle damage appraiser license.
3. "Department" means the Department of
				  Business Regulation.
4. "Director"
				  means the Director of the Department or his or her designee.
5. "License" means the motor vehicle damage
				  appraiser license issued by the Department to a person engaged in the business
				  of motor vehicle damage appraising.
6. "Licensee" means a person or legal entity
				  holding a motor vehicle damage appraiser license.
7. "NAIC" means the National Association of
				  Insurance Commissioners.
8.
				  "On-site visit" means any time an appraiser appears at an automobile body
				  repair shop for the purpose of inspecting, appraising, supplementally
				  appraising or re-inspecting.
9.
				  "Original equipment manufacturer part" or "OEM part" means a motor vehicle
				  replacement part manufactured by the manufacturer of the motor vehicle being
				  repaired.
10. "Uniform individual
				  application" means the current version of the NAIC Uniform Individual
				  Application for resident and nonresident individuals.
11. "Uniform business entity application"
				  means the current version of the NAIC Uniform Business Entity Application for
				  resident business entities.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.4 - License Required

Current through June 14, 2024
A. No Person may
				  engage in the business of motor vehicle damage appraising without first
				  obtaining a License from the Department.
B. The Department may issue business entity
				  licenses to residents on a discretionary basis. Application shall be made using
				  the Uniform business entity application as modified and provided by the
				  Department. A business entity license is not required. All persons associated
				  with a business entity performing motor vehicle appraisal services must hold a
				  valid individual license. Before approving the application for a business
				  entity license, the department shall find that:
1. The business entity is a resident of the
				  State of Rhode Island;
2. The
				  business entity has paid the applicable fees;
3. The business entity has designated a
				  licensed appraiser responsible for the business entity's compliance with the
				  insurance laws, rules and regulations of this state.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.5 - Examination

Current through June 14, 2024
A. An individual applying for an appraiser
				  license shall pass a written examination. The examination shall test the
				  knowledge of the individual concerning the duties and responsibilities of an
				  appraiser and the insurance laws and regulations of this state.
B. The Department may make arrangements,
				  including contracting with an outside testing service, for administering
				  examinations and collecting the nonrefundable fee for said
				  examinations.
C. An individual who
				  fails to appear for the examination as scheduled or fails to pass the
				  examination, shall register for another examination and is required to pay the
				  fees and complete the necessary forms before being rescheduled for another
				  examination.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.6 - Reinstatement of License

Current through June 14, 2024
An appraiser who allows his, her or its license to expire
					 may, within twelve (12) months from the due date of the renewal, reinstate the
					 license without the necessity of passing a written examination. A reinstatement
					 fee is required along with the unpaid renewal fee which shall be paid at the
					 time of reinstatement. This reinstatement is only available if the application
					 is received within twelve (12) months of the due date and the Applicant was in
					 good standing in this state at the time of renewal. The Applicant is required
					 to file a reinstatement application, file the appropriate affidavit and pay all
					 applicable fees.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.7 - Conduct

Current through June 14, 2024
A. A licensee shall inform the Department in
				  writing of any change of address or any change of name within thirty (30) days
				  of the change.
B. If a licensee
				  holds an insurance license in any other state, he or she shall immediately
				  notify the Department if his or her insurance license is suspended or revoked
				  or not renewed for any reason.
C.
				  Licensees shall comport themselves in accordance with all Rhode Island laws
				  including but not limited to R.I. Gen. Laws §
										27-10.1-6 and all regulations
				  issued thereunder.
D. Each
				  appraiser, while engaged in appraisal duties, shall carry the license issued to
				  that appraiser and shall display it, upon request, to an owner whose vehicle is
				  being inspected, to the auto body shop representative involved, or to any
				  authorized representative of the Department.
E. The appraiser shall prepare and leave a
				  legible copy of his or her independent appraisal with the auto body shop
				  selected to make the repairs at time of initial inspection. All damage
				  unrelated to the incident or accident that occasioned the appraisal of the
				  vehicle, or old damage, shall be clearly indicated in the appraisal.
1. The appraisal shall contain the name of
				  the insurance company ordering it, if any, the insurance file number, the
				  number of the appraiser's license, and the proper identification number of the
				  vehicle being inspected and a notice in boldface type, reading as follows:
a. PURSUANT TO RHODE ISLAND LAW, THE CONSUMER
				  HAS THE RIGHT TO CHOOSE THE REPAIR FACILITY TO COMPLETE REPAIRS TO A MOTOR
				  VEHICLE; AND AN INSURANCE COMPANY MAY NOT INTERFERE WITH THE CONSUMER'S CHOICE
				  OF REPAIRER.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.8 - Submissions Regarding Statutory/Regulatory Violations

Current through June 14, 2024
A. Submissions regarding alleged violation of
				  this Part by auto body repair shops, regarding the conduct of appraiser(s), may
				  be presented in writing to the Department subject to the following:
1. Such submissions will be processed by the
				  Department in its discretion if the Department believes reasonable cause exists
				  to investigate the allegations.
2.
				  Such submissions shall provide documentary evidence of alleged violations which
				  substantiate the allegations with specific reference to both statutory and
				  regulatory sections at issue.
3. If
				  the submission evidences statutory and/or regulatory violations, the Department
				  may prosecute said issues pursuant to its authority to initiate Departmental
				  Hearings pursuant to Part 10-00-2 of this Title.
4. Such submissions may, and are encouraged
				  to, combine allegations of multiple violations in one correspondence.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.9 - License Denial, Non-Renewal or Revocation

Current through June 14, 2024
A. The
				  Department may deny an Application for a License or revoke or suspend a
				  License, or deny renewal of a License for the following:
1. Failing to respond to any written inquiry
				  (including electronic communications) from the Department within 21 calendar
				  days of receipt of such inquiry.
2.
				  Providing incorrect, misleading, incomplete or materially untrue information in
				  the License application.
3.
				  Violating any insurance law, or any regulation issued thereunder, subpoena or
				  order of the Department or of another state's insurance commissioner.
4. Obtaining or attempting to obtain a
				  license through misrepresentation or fraud.
5. Being convicted of a felony.
6. Having admitted or been found to have
				  committed any insurance unfair trade practice or insurance fraud.
7. Using fraudulent, coercive, or dishonest
				  practices or demonstrating incompetence, untrustworthiness or financial
				  irresponsibility in this state or in another place.
8. Having a motor vehicle damage appraiser
				  license, or its equivalent, denied, suspended or revoked in any other state,
				  province, district or territory.
9.
				  Forging another's name to any document.
10. Cheating on an examination, including
				  improperly using notes or any other reference material, for a motor vehicle
				  damage insurance appraiser license.
11. Failing to comply with an administrative
				  or court order imposing a child support obligation.
12. Failing to pay state income tax or comply
				  with any administrative or court order directing payment of state income
				  tax.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.10 - Reporting of Actions

Current through June 14, 2024
A. The appraiser
				  shall report to the Department any administrative action taken against the
				  appraiser in another jurisdiction or by another governmental agency in this
				  state within thirty (30) days of the final disposition of the matter. This
				  report shall include a copy of the order, consent to order, or other relevant
				  legal documents.
B. Within thirty
				  (30) days of the initial pretrial hearing date, the appraiser shall report to
				  the Department any criminal prosecution of the appraiser taken in any
				  jurisdiction. The report shall include a copy of the initial complaint filed,
				  the order resulting from the hearing, and any other relevant legal
				  documents.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 3 - Motor Vehicle Damage Appraisers › Section 230-RICR-20-50-3.11 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to
					 any person or circumstances is held invalid or unconstitutional, the invalidity
					 or unconstitutionality shall not affect other provisions or applications of
					 this Part which can be given effect without the invalid or unconstitutional
					 provision or application, and to this end the provisions of this Part are
					 severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 4 - Insurance Claim Adjusters › Section 230-RICR-20-50-4.1 - Authority

Current through June 14, 2024
This Part is promulgated pursuant to R.I. Gen. Laws Chapter
					 27-10.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 4 - Insurance Claim Adjusters › Section 230-RICR-20-50-4.2 - Purpose and Applicability

Current through June 14, 2024
A. This Part shall
				  apply to all persons who engage for compensation in investigating, negotiating
				  or settling property & casualty or workers compensation insurance claims.
				  Unlicensed persons may not advertise, hold themselves out as or solicit the
				  adjustment of insurance claims. This includes company adjusters, independent
				  adjusters and public adjusters.
B.
				  The purpose of this Part is to establish standards and procedures for the
				  issuance of insurance claim adjuster licenses and to govern the conduct of
				  insurance claim adjusters.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 4 - Insurance Claim Adjusters › Section 230-RICR-20-50-4.4 - License Required

Current through June 14, 2024
A. A person shall
				  not act or hold him/her or itself out as an adjuster in this state unless the
				  person is licensed as an adjuster by the State of Rhode Island. Application for
				  an individual person shall be made using the Uniform Individual Application as
				  modified and provided by the Department.
B. The Department may issue business entity
				  licenses to residents on a discretionary basis. Application shall be made using
				  the Uniform Business Entity Application as modified and provided by the
				  Department. A business entity license is not required. All persons associated
				  with a business entity performing adjuster services must hold a valid
				  individual license. Before approving the application for a business entity
				  license, the department shall find that:
1.
				  The business entity is a resident of the State of Rhode Island;
2. The business entity has paid the
				  applicable fees; and
3. The
				  business entity has designated a licensed adjuster responsible for the business
				  entity's compliance with the insurance laws, rules and regulations of this
				  state.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 50 - INSURANCE PRODUCERS AND OTHER NON INSURER LICENSEES › Part 4 - Insurance Claim Adjusters › Section 230-RICR-20-50-4.5 - Licensing Procedures

Current through June 14, 2024
A. The Department
				  may contract with non-governmental entities, including the NAIC or any
				  affiliates or subsidiaries that the NAIC oversees, to perform any ministerial
				  functions, including the collection of fees and data, related to licensing that
				  the Department may deem appropriate.
B. Applications for adjuster licenses must be
				  made electronically through NIPR. If this requirement would cause a hardship
				  for any individual (s)he should contact the insurance division and request
				  permission to apply by hard copy application. Permission shall be granted to
				  such persons unless a compelling reason requires otherwise.
C. Company and independent adjusters shall
				  specify the lines of authority requested at the time of the
				  application;
D. At the time of
				  application, the applicant shall pay all fees. Failure to pay fees shall be
				  grounds for revocation of the license.