reglab/statecodes huggingface dataset:
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.8 - Nonrenewal, Cancellation and Premium Increases

Current through June 14, 2024
A.
				  Nonrenewal
1. No insurer shall subsequently
				  non-renew an insured who has taken the mitigation steps requested by the
				  insurer for reasons of the insurers exposure to catastrophe loss, unless for
				  non-payment of premium, fraud, breach by the insured of a provision of the
				  policy, reversal or a lack of maintenance of the mitigation steps, or insurer
				  solvency concerns or adverse loss history or on any other grounds not
				  prohibited by statute or regulation.
2. No insurer shall non-renew or cancel
				  solely as a result of:
a. a policy or claim
				  inquiry, a loss with no payout or a loss with a payout of less than $500 unless
				  there has been more than one non-catastrophic claim in a three-year period
				  which has resulted in a loss payout;
b. a loss sustained as a result of a
				  catastrophic event; or
c. prior
				  claims experience of the property while under ownership of someone other than
				  the current insured unless the risk from which the claim originated has not
				  been mitigated.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.9 - Rate and Policy Form Filings

Current through June 14, 2024
A. All filings must
				  provide sufficient actuarial justification for rate variances, premium offsets
				  and premium credits for deductible programs.
B. Insurers must demonstrate that rates are
				  not excessive, inadequate or unfairly discriminatory.
C. Insurers that choose to utilize hurricane
				  models in the setting of rates must identify the model(s) used (including the
				  version of the model(s) used) as well as provide a complete explanation of (1)
				  the reason(s) that the particular model(s) was chosen and (2) the effect of use
				  of the model(s) on the rates requested. Any changes in the model(s) utilized
				  from a prior filing must be fully explained.
D. If an insurer is requesting an increase in
				  premium due to increased reinsurance costs, the insurer must provide an
				  explanation of the increased cost. This explanation should include an
				  explanation of alternatives to reinsurance (i.e. CAT bonds, surplus notes,
				  etc.). Insurers should fully disclose how reinsurance costs are allocated to
				  Rhode Island. The Department considers the explanation of alternative to
				  reinsurance considered to be exempt from the Access to Public Records Act by
				  virtue of R.I. Gen. Laws §
										38-2-2(4)(i)(B),
				  therefore, an insurer may request that this portion of their filing be retained
				  as confidential.
E. Insurers may
				  not continue to use forms and rates previously approved which are not in
				  compliance with this Part and R.I. Gen. Laws §
										27-76-2.
F. Residential property filings falling under
				  this Part may not be made under R.I. Gen. Laws §
										27-6-8.1 (Flex Rating Statute).
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.10 - Surplus Lines Insurance and Insurance Producers

Current through June 14, 2024
A. The provisions of this Part and R.I. Gen.
				  Laws §
										27-76-1 et seq. do not apply to
				  residential property insurance issued by approved surplus lines insurers.
B. Upon policy renewal insurance
				  producers and surplus line brokers should review existing surplus lines
				  business to determine if it qualifies for the voluntary market or the RI FAIR
				  Plan Part 11 of this Subchapter if available coverage meets the customer's
				  needs.
C. Insurance producers
				  should reach out to their customers to fully explain the coverages and
				  exclusions and assist the insured in selecting the best product for their
				  circumstances.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.11 - Mediation Program

Current through June 14, 2024
A. Following a
				  hurricane, the Department may issue a Bulletin that subjects all claims under
				  personal lines insurance policies that occurred as a result of damage to
				  residential property caused by a specific hurricane to nonbinding mediation at
				  the election of the insured in accordance with this Part.
1. A Bulletin announcing of the establishment
				  of a mediation program will be related to a specific hurricane and will be
				  posted on the Department's website and sent to all persons who have requested
				  notice of insurance division announcements.
2. The decision as to whether to announce a
				  mediation program due to a specific hurricane will be determined in part by the
				  number and nature of claims in Rhode Island.
3. The Department may announce that the
				  mediation program will include claims to a single property caused by more than
				  one hurricane in twelve (12) month period.
4. Flood insurance claims insured through the
				  National Flood Insurance Program ("NFIP") pursuant to
				  42 U.S.C. §
												4011 et seq. will not be available for
				  participation in the mediation program.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.12 - Emergency Measures

Current through June 14, 2024
A. The Insurance
				  Division will utilize the declaration of a catastrophe by the Insurance
				  Services Offices ("ISO") or its successor organization for purposes of the
				  declaration of emergency measures pursuant to R.I. Gen. Laws §
										27-76-6.
B. When ISO declares a catastrophe the
				  Insurance Division may require insurers to take any of the following actions:
1. Allow grace periods for the payment of
				  insurance premiums for a time period established by the Insurance Division;
a. The Department will establish the time
				  period indicated above by considering the severity of the catastrophe and the
				  number and severity of claims.
b.
				  The Department shall order a maximum grace period of 90 days by bulletin. This
				  requirement does not prevent the Department from amending this Part during the
				  grace period to establish a longer grace period.
c. At the end of the grace period insurers
				  may bill insureds that have elected to take advantage of the grace period for
				  the premium accumulated during the grace period as long as the insurer has
				  notified the insured at the time of the request that premium will accumulate
				  during the grace period.
d.
				  Insurers may treat nonpayment of accumulated premium in the same manner as
				  nonpayment of premium under the policy as long as the insurer has notified the
				  insured at the time the request for the grace period is requested that the
				  premium will be due upon expiration of the grace period or at whatever longer
				  interval is established by the insurer.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.13 - 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 05 - Personal Lines - Automobile and Homeowners Insurance › Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13) › Section 230-RICR-20-05-13.14

Current through June 14, 2024
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Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.1 - Authority

Current through June 14, 2024
This Regulation is promulgated pursuant to R.I. Gen. Laws
					 §§
										27-76   and
					 27-8-11.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.2 - Applicability

Current through June 14, 2024
This Regulation shall apply to the renewal of (1) personal
					 lines auto insurance, (2) homeowners insurance, and (3) residential fire
					 insurance, or any components thereof. This Regulation requires notification to
					 insureds upon policy renewal of any coverage reductions, elimination or
					 increased deductibles unless the change was requested by the
					 insured.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.3 - Definitions

Current through June 14, 2024
A. "Expiration date" means the date upon
				  which coverage under a policy ends or, for a policy written for a term longer
				  than one (1) year or with no fixed expiration date, each annual anniversary
				  date of such policy.
B. "Insurer"
				  means an individual insurer or an insurance group. For example, if an insured
				  is transferred from one insurer to another within an insurance group, the
				  notice requirements of this regulation apply.
C. "Material Change" means any coverage
				  reductions, elimination or increased deductibles not made at the request of the
				  insured.
D. "Renewal" or "to renew"
				  means the issuance of, or the offer by an insurer to issue, a policy succeeding
				  a policy previously issued and delivered by the same insurer, or the issuance
				  of a certificate or notice extending the term of an existing policy for a
				  specified period beyond its expiration date.
E. "Writing" means any writing including
				  electronic writings if the parties have agreed to conduct the transaction by
				  electronic means in accordance with R.I. Gen. Laws §
										42-127.1-1.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.4 - Notice of Material Changes upon Renewal

Current through June 14, 2024
A. Upon
				  an offer to renew, an insurer shall provide, at least thirty (30) days prior to
				  the expiration of the policy, written notice of any Material Change in policy
				  to the named insured. The notice must be prominent, in clear and unambiguous
				  language and must fully disclose all details of the change.
B. The notice must be included in or sent at
				  the same time as the policy issuance or renewal package.
C. The notice shall itemize and describe the
				  Material Change.
D. The
				  policyholder shall be notified that the policy renewal contains the "NOTICE OF
				  REDUCTION IN COVERAGE" by one of the following manners:
1. By mailing the "NOTICE OF REDUCTION IN
				  COVERAGE" separate from the renewal policy package mailing;
2. By printing "NOTICE OF REDUCTION IN
				  COVERAGE ENCLOSED on the policy renewal package envelope and including said
				  reductions in the first few pages of the renewal policy package;
3. By printing "NOTICE OF REDUCTION IN
				  COVERAGE ENCLOSED" in the first few pages of the renewal policy
				  package;
4. If the renewal policy
				  package is made available by email, the email notifying the policyholder of the
				  renewal shall contain a statement that the policy contains a "NOTICE OF
				  REDUCTION IN COVERAGE" and such reductions shall be in the first few pages of
				  the renewal policy package.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.5 - Failure to Comply

Current through June 14, 2024
If an insurer fails to provide notice in accordance with
					 this Regulation, the coverage provided to the named insured in the expiring
					 policy shall remain in effect, without the coverage modification, until notice
					 is provided or until the effective date of replacement coverage obtained by the
					 named insured, whichever occurs first regardless of the policy language. For
					 the purposes of this Regulation, the notice period begins on the date notice is
					 given pursuant to §
										14.4   of this Part. If the named insured elects not to
					 renew, any earned premium for the period of extension of the terminated policy
					 shall be calculated pro rata at the lower of the current or previous year's
					 premium. If the insured accepts the renewal, the material changes of which the
					 insured was notified in accordance with this Regulation shall be effective on
					 the renewal date.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.6 - Proof of Notice

Current through June 14, 2024
An insurer shall be responsible for ensuring that a notice
					 of material changes is provided to the named insured as provided in this
					 regulation and shall be able to demonstrate that such notice was
					 provided.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.7 - Conflicts

Current through June 14, 2024
To the extent that this Regulation conflicts with existing
					 regulation(s), the notice of material changes requirements enumerated herein
					 shall apply.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 14 - Notice of Material Changes upon Renewal of Personal Motor Vehicle, Homeowner and Residential Fire Insurance (230-RICR-20-05-14) › Section 230-RICR-20-05-14.8 - Severability

Current through June 14, 2024
If any section, term, or provision of this Regulation
					 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 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.1 - Authority

Current through June 14, 2024
This regulation is promulgated in accordance with R.I. Gen.
					 Laws Chapters 27-6, 27-9 and 27-44.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.2 - Scope

Current through June 14, 2024
This Part shall apply to all insurers that issue homeowners
					 and/or private passenger automobile insurance to residents of Rhode Island. An
					 insurer that chooses to utilize insurance scores in the underwriting and rating
					 of these policies must comply with the requirements of this Part.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.3 - Purpose

Current through June 14, 2024
The purpose of this Part is to establish guidelines
					 regarding insurer's use of insurance scores in underwriting and rating of
					 homeowners and/or private passenger automobile insurance when a consumer
					 experiences an extraordinary life event as defined in this Part and/or to
					 address the absence of or insufficient credit history for an applicant or
					 insured.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.4 - Definitions

Current through June 14, 2024
A. As used in this Part:
1. "Consumer" means either an applicant for
				  insurance or an existing insured.
2. "Department" means the Insurance Division
				  of the Department of Business Regulation.
3. "Extraordinary Life Event" means an event
				  identified in §
											15.6   of this Part that directly influences a consumer's
				  credit history.
4. "Homeowners
				  Insurance" means any personal lines insurance policy providing coverage to a
				  domicile.
5. "Insurance Score"
				  means a number, rating or any categorization that is derived from an algorithm,
				  computer application, model or other process that is based in whole or in part
				  on credit history for the purposes of predicting the future insurance loss
				  experience of an individual applicant or insured.
6. "Private Passenger Automobile" means any
				  vehicle insured by a personal automobile insurance policy.
7. "Renewal" or "to renew" means the issuance
				  and delivery by an insurer of a policy superseding at the end of the policy
				  period a policy previously issued and delivered by the same insurer, or the
				  issuance and delivery of a certificate or notice extending the term of a policy
				  beyond its policy period or term; provided, however, that any policy with a
				  policy period or term of less than twelve (12) months shall for the purpose of
				  this section be considered as if written for a policy period or term of twelve
				  (12) months. Provided, further, that for purposes of this Part any policy
				  written for a term longer than one (1) year or any policy with no fixed
				  expiration date shall be considered as if written for successive policy periods
				  or terms of one (1) year and any termination by an insurer effective on an
				  anniversary date of such policy shall be deemed a failure to renew.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.5 - Absence of or Insufficient Credit History

Current through June 14, 2024
A. An
				  insurer using an insurance score for underwriting and rating of homeowners
				  and/or private passenger automobile insurance must comply with the following
				  conditions:
1. If an insurer issuing or
				  delivering a policy is unable to obtain credit history from a consumer report
				  or in cases where an insured or applicant has insufficient credit history to
				  produce an insurance score, the insurer shall underwrite, tier, or rate the
				  individual risk in one of the following ways:
a. as if the risk received a neutral or
				  average insurance score, as defined by the insurer,
b. by excluding the use of insurance score as
				  a factor and using only other underwriting, tiering, or rating criteria; or
c. in accordance with established
				  underwriting guidelines or filed tiering or rating criteria.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.6 - Extraordinary Life Events

Current through June 14, 2024
A. Notwithstanding
				  any other law or regulation, an insurer that uses insurance scores shall, on
				  written request from an applicant for insurance coverage or an insured, provide
				  reasonable exceptions to the insurer's rates, rating classifications, company
				  or tier placement, or underwriting rules or guidelines for a consumer who has
				  experienced and whose credit history has been directly influenced by any of the
				  following events:
1. Catastrophic event, as
				  declared by the federal or state government;
2. Serious illness or injury, or serious
				  illness or injury to an immediate family member;
3. Death of a spouse, child, or
				  parent;
4. Divorce or involuntary
				  interruption of legally-owed alimony or support payments;
5. Identity theft;
6. Temporary loss of employment for a period
				  of 3 months or more, if it results from involuntary termination;
7. Military deployment overseas; or
8. Other events, as determined by the
				  insurer
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.7 - Policy Forms, Rules and Rates

Current through June 14, 2024
Insurers are required to review existing policy forms,
					 rules and rates and bring all filings into compliance with the provisions of
					 this Part. Revised filings must be submitted to the Department via SERFF no
					 later than April 1, 2011. Underwriting guidelines are not required to be filed
					 but may be requested by the Department. The insurer may request that the
					 documents produced be accorded treatment under R.I. Gen. Laws §
										38-2-2(4)(B).
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance › Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15) › Section 230-RICR-20-05-15.8 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to
					 any person or circumstance 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 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.1 - Authority

Current through June 14, 2024
This Regulation is promulgated pursuant to R.I. Gen. Laws
					 §§
										27-16-2.6,
					 42-14-2.3,
					 42-14.1-1 and 2 and
					 42-35-3.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.2 - Applicability and Purpose

Current through June 14, 2024
A. The purpose of
				  this Part is to provide for medical malpractice insurance in Rhode Island
				  including a residual market for those risks that are unable to procure coverage
				  from competitive market insurers.
B. By this Part the Department implements
				  R.I. Gen. Laws §
										42-14.1-2(a)
				  requiring licensed healthcare facilities and medical or dental professionals to
				  obtain and be covered by professional liability insurance for claims of bodily
				  injury or death arising out of malpractice, professional error, or
				  mistake.
C. By this Part the
				  Department implements the provisions of R.I. Gen. Laws §
										42-14.1-2 allowing certain
				  entities to self-insure. All persons and entities not granted permission to
				  self-insure by this Part must be covered by professional liability insurance
				  issued by a licensed insurer, or an approved surplus lines insurer or through a
				  program established by a hospital affiliated with an accredited medical school
				  in compliance with R.I. Gen. Laws §
										27-16-2.6.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.4 - Medical Malpractice Joint Underwriting Association of Rhode Island

Current through June 14, 2024
A. Creation
1. The MMJUA is hereby created, consisting of
				  all insurers authorized to write, within this state on a direct basis, personal
				  injury liability insurance as defined in R.I. Gen. Laws §
											27-9-2, including insurers
				  covering such perils in multiple peril package policies. Every such insurer
				  shall be a member of the MMJUA and shall remain a member as a condition of its
				  authority to continue to transact such kinds of insurance in this
				  State.
2. The purpose of the MMJUA
				  shall be to continue to provide a market for medical malpractice insurance on a
				  self-supporting basis.
3. The MMJUA
				  shall continue to underwrite medical malpractice insurance without interruption
				  under the programs approved under Emergency Regulation XXI (21) ("Emergency
				  Regulation") promulgated on June 16, 1975, including all policies and
				  obligations assumed thereunder. The MMJUA shall also be authorized to
				  underwrite incidental coverages for any provider of health care but only if
				  such provider of health care shall be insured by the MMJUA for medical
				  malpractice.
4. The MMJUA need not
				  be the exclusive agency through which medical malpractice insurance may be
				  written in this state. Any insurer authorized to write medical malpractice
				  insurance in this State or any approved surplus lines insurer shall be allowed
				  to do so subject to the provisions of Rhode Island General Laws and promulgated
				  regulations.
5. The MMJUA shall,
				  pursuant to the provisions of this Part and the plan of operation with respect
				  to medical malpractice insurance, have the power on behalf of its members:
a. to issue, or to cause to be issued,
				  policies of insurance to applicants, including incidental coverages and subject
				  to limits as specified in the plan of operation but not to exceed one (1)
				  million dollars for each claimant under one (1) policy in any one (1) year and
				  three (3) million dollars for all claimants under one (1) policy in any one (1)
				  year;
b. to underwrite such
				  insurance and to adjust and pay losses with respect thereto, or to appoint
				  service companies to perform those functions;
c. to assume reinsurance from its members;
				  and
d. to reinsure its risks in
				  whole or in part.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.5 - Medical Malpractice Insurance Minimum Limits

Current through June 14, 2024
A. All
				  healthcare facilities and active medical or dental professionals shall carry
				  medical malpractice insurance coverage with minimum limits of one million
				  dollars ($1,000,000) for claims arising out of the same professional service
				  and three million dollars ($3,000,000) in the aggregate. Medical or dental
				  professionals may also satisfy this requirement by securing indemnification
				  coverage under a program established in compliance with R.I. Gen. Laws §
										27-16-2.6 or from a self-insured
				  entity approved by the Department pursuant to §
										1.7   of this Part.
B. To qualify under this section the
				  insurance policy must be issued by an insurer licensed to write medical
				  malpractice insurance in Rhode Island or by a surplus lines insurer or by a
				  self-insurer authorized by the Department pursuant to §
										1.7   of this Part or
				  the coverage may be provided by an indemnification agreement under a program
				  established in compliance with R.I. Gen. Laws §
										27-16-2.6.
C. Any licensed medical or dental
				  professional may comply with this Part by inclusion under a policy of insurance
				  issued to such medical or dental professional's employer or affiliate. In
				  addition, any licensed medical or dental professional employed by a physician's
				  practice affiliated with a teaching hospital may comply with this Part by
				  inclusion under an indemnification agreement issued by such teaching hospital
				  under a program established in compliance with R.I. Gen. Laws §
										27-16-2.6.
D. All medical malpractice insurance policies
				  shall cover the legal liability of the insured for loss, damage, or expense
				  incident to claims of bodily injury or death arising out of malpractice,
				  professional error, or mistake.
E.
				  Rates for all medical malpractice insurance shall not be excessive, inadequate
				  or unfairly discriminatory and shall be actuarially justified.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.6 - Requirements of Medical Malpractice Insurance Policies

Current through June 14, 2024
A. Insurers issuing medical malpractice
				  insurance policies covering risks which are required to carry medical
				  malpractice insurance by the provisions of R.I. Gen. Laws §
										42-14.1-2 shall issue policies
				  that comply with the following minimum requirements. This section does not
				  apply to policies issued excess to a primary policy
1. Policy limits shall be in a minimum of one
				  million dollars ($1,000,000) for claims arising out of the same professional
				  service and three million dollars ($3,000,000) in the aggregate
2. Policies shall not include any deductible
				  in excess of ten thousand ($10,000) per claim.
3. All medical malpractice insurance policies
				  shall cover the legal liability of the insured for loss, damage, or expense
				  incident to claims of bodily injury or death arising out of malpractice,
				  professional error, or mistake.
4.
				  Rates for all medical malpractice insurance shall not be excessive, inadequate
				  or unfairly discriminatory and shall be actuarially justified.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.7 - Requirements for Medical Malpractice Self-Insurance

Current through June 14, 2024
A. In
				  order to qualify to self-insure an entity must either:
1. Qualify as a hospital affiliated with an
				  accredited medical school that satisfies the requirements of R.I. Gen. Laws
				  §
											27-16-2.6; or
2. Obtain permission of the Department of
				  Business to self-insure. The following requirements apply to entities seeking
				  permission to self-insure:
a. The entity
				  shall make a filing with the Department fully describing the self-insurance
				  program.
b. The self-insurance
				  program must be provided through a captive insurer or other approved
				  self-insurance vehicle fully licensed and subject to the authority of the
				  Department or other acceptable domiciliary jurisdiction.
c. The coverage provided by the
				  self-insurance vehicle must meet the requirements of §
												1.6   of this
				  Part.
d. The entity must agree to
				  file, on an annual basis on or before June 1 of each year, an audited certified
				  financial statement and actuarial projections as to the soundness of its
				  reserving as well as any other financial information requested by the
				  Department.
e. The entity shall
				  notify the Department of its intent to discontinue its self-insurance program
				  ninety (90) days prior to its termination.
f. The entity shall provide whatever further
				  information is requested by the Department.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 10 - Medical Malpractice Insurance › Part 1 - Medical Malpractice Joint Underwriting Association (formerly Insurance Regulation 21) (230-RICR-20-10-1) › Section 230-RICR-20-10-1.8 - 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 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.1 - Authority

Current through June 14, 2024
This Part is promulgated in accordance with R.I. Gen. Laws
					 Chapter 28-47.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.2 - Purpose

Current through June 14, 2024
The purpose of this Part is to establish procedures to be
					 followed for groups that want to self-insure workers' compensation
					 risk.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.3 - Application Procedure

Current through June 14, 2024
A. Employers
				  seeking approval to become a group self-insurer pursuant to R.I. Gen. Laws
				  §§
										28-47-1 et seq. shall apply to the
				  Department of Business Regulation ("Department"). The application shall be on a
				  form prescribed by the Department and shall contain answers to all questions.
				  The application shall be filed with the Department not less than thirty (30)
				  days prior to the proposed inception date of the group self-insurance
				  plan.
B. After considering the
				  application and all supporting data, the Department will either grant approval
				  or advise the applicants of the requirements to be met before approval is
				  granted. The applicants shall be given thirty (30) days from the receipt of
				  notice in which to comply with such requirements. Authority to operate the
				  group self-insurer will not become effective until there is proof that all
				  requirements for approval have been met.
C. The applicants may, at the discretion of
				  the Department, be granted additional time to meet the requirements for
				  approval of the application. A request for extension of time shall be made in
				  writing by the applicants to the Department within the initial thirty (30) day
				  compliance period.
D. Upon meeting
				  the requirements for approval, the applicants shall receive a formal
				  certificate approving the group self-insurer. The certificate shall expire one
				  (1) year from the effective date of issuance.
E. The group self-insurer shall submit a
				  renewal application annually, on a form prescribed by the Department, thirty
				  (30) days before expiration of the certificate. Upon receipt of a renewal
				  application, the existing certificate shall be extended until the application
				  is either approved or denied.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.4 - Application Requirements

Current through June 14, 2024
A. The application
				  to the Department shall be accompanied by all of the following:
1. a copy of the by-laws of the group
				  self-insurer which shall include the group self-insurer's assessment and
				  dividend policies.
2. an individual
				  application for membership in the group self-insurer, each member of the group
				  self-insurer applying for coverage as of its inception date;
3. proof that the current financial
				  statements of each member of the group self-insurer at its inception, when
				  taken collectively, show all of the following:
a. that the combined net assets of the
				  members applying for coverage on the inception date are not less than five
				  hundred thousand dollars ($500,000);
b. that they have working capital in an
				  amount establishing the financial strength and liquidity of their businesses
				  when considered collectively;
4. evidence of the financial ability of the
				  group self-insurer to meet its obligations under the Workers' Compensation
				  Act;
5. a listing of the estimated
				  annual premium to be developed by each member of the group self-insurer at its
				  inception date;
6. proof of payment
				  by each member of the group self-insurer at its inception date of not less than
				  twenty five percent (25%) of its estimated annual premium into a designated
				  depository;
7. confirmation of
				  excess insurance in amounts designated by the Department;
8. names, addresses, and current business
				  affiliations of the initial board of trustees and the administrator;
9. proof of all fidelity bonds required by
				  the Department in amounts and form acceptable to him;
10. proof of a surety bond or other
				  acceptable security in an amount and form acceptable to the
				  Department;
11. an indemnity
				  agreement in a form acceptable to the Department jointly and severally binding
				  the group self-insurer and each member thereof for all of the obligations of
				  the group incurred during the period of membership;
12. a breakdown of all projected
				  administrative expenses for the year, both in dollar amounts and as percentages
				  of premium;
13. proof, satisfactory
				  to the Department, that the annual gross premiums of the group self-insurer
				  will be not less than two hundred fifty thousand dollars ($250,000);
14. proof that the group self-insurer has
				  within its own organization ample facilities and competent personnel to service
				  its program with respect to underwriting, industrial safety engineering, claims
				  adjusting, and reporting of loss data or has contracted for the provision of
				  any or all such services.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.5 - Security Deposits

Current through June 14, 2024
A. Each group
				  self-insurer shall be required to post a security deposit with the Department
				  in an amount not less than one hundred thousand dollars ($100,000). The
				  Department may require a greater deposit to secure any potential liability of
				  the group not otherwise funded by a security deposit, premium collections, or
				  excess insurance.
B. The securities
				  acceptable to the Department as a security deposit shall be:
1. savings accounts or certificates of
				  deposit in a duly chartered commercial bank located within the State of Rhode
				  Island and insured through the Federal Deposit Insurance Corporation;
2. share accounts or savings certificates in
				  a duly chartered savings and loan association located within the State of Rhode
				  Island and insured through the Federal Savings and Loan Insurance
				  Incorporation;
3. direct
				  obligations of the United States Treasury such as notes, bonds, or bills which
				  are backed by the full faith and credit of the United States
				  Government;
4. any bond or security
				  issued by the State of Rhode Island and backed by the full faith and credit of
				  the State;
5. surety bonds in a
				  form approved by the Department issued by a corporate surety admitted in the
				  State of Rhode Island or authorized by the Department to transact such business
				  in the State;
6. a financial
				  guarantee endorsement in a form acceptable to the Department issued as part of
				  an acceptable excess issuance contract.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.6 - Excess Insurance

Current through June 14, 2024
A. Each group
				  self-insurer shall maintain excess insurance as follows:
1. specific excess insurance with limits of
				  not less than one million dollars ($1,000,000) per occurrence. Group
				  self-insurers containing businesses with a high risk of multiple injury from a
				  single accident may be required to maintain higher limits. The retention of the
				  required specific excess coverage shall be the retention generally available
				  for group self-insurers with similar exposures and annual premiums;
2. aggregate excess insurance with limits
				  above the aggregate retention level of not less than one million dollars
				  ($1,000,000) or twenty five percent (25%) of the annual premiums of the group
				  self-insurer for the term of the policy, whichever is greater.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.7 - Members - Admission and Termination

Current through June 14, 2024
A. After the
				  inception date of the group self-insurer, prospective new members shall submit
				  an application for membership to the board of trustees or its administrator.
				  The trustees or administrator shall approve or deny the application for
				  membership pursuant to the by-laws of the group self-insurer. Membership shall
				  take effect upon approval, and the approved application shall be filed with the
				  Department not more than ten (10) days after approval.
B. Individual members of the group
				  self-insurer shall be subject to cancellation by the trustees pursuant to the
				  by-laws. Cancellation shall not be effective until at least ten (10) days after
				  notice of such cancellation, on prescribed form, has either been filed in the
				  office of the Department or sent by certified or registered letter, return
				  receipt requested, and also served in the same manner upon the member. A member
				  cancelled for reasons other than nonpayment of premium shall be entitled to a
				  hearing before the trustees prior to cancellation.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 20 - Insurance › Subchapter 15 - Workers Compensation Insurance › Part 1 - Workers Compensation Group Self Insurance (formerly Insurance Regulation 33) (230-RICR-20-15-1) › Section 230-RICR-20-15-1.8 - Premiums

Current through June 14, 2024
A. The premium collected from each member
				  shall be computed by applying the appropriate manual rates and rules per
				  payroll code classification by an experience modification factor, such rates
				  and modification factor to be those filed by the National Council on
				  Compensation Insurance, Northeast Region and approved by the
				  Department.
B. In addition to any
				  stock discounts, the trustees of a group self-insurer may offer advance premium
				  discounts to members, subject to the following limitations:
1. For all premium discounts the Department
				  shall be notified in writing of a group self-insurer's intention to offer any
				  premium discounts. Such notice shall be submitted with actuarial and other
				  appropriate supporting documentation.
2. All premium discounts must have the
				  approval of the excess underwriter.
3. For discounts up to fifteen percent (15%);
				  within ten (10) days after the group self-insurer has made or issued a contract
				  or policy at the discounted premium, the group shall notify the Department in
				  writing of this action. Unless this discount is disapproved or additional
				  information is requested by the Department within thirty (30) days after
				  receipt of this notice from the group, the premium discount shall be deemed to
				  be approved.
4. For discounts in
				  excess of fifteen percent (15%); there shall be a waiting period of thirty (30)
				  days from the date that notification is received by the Department before the
				  premium discount becomes effective. This waiting period may be extended for an
				  additional period not to exceed thirty (30) days, if the Department gives
				  written notice to the group within the initial thirty (30) day waiting period.
				  Unless the discount is disapproved or additional information is requested
				  within the waiting period, the premium discount shall be deemed to be
				  approved.