™Your Policy Risk Impact Agent
57 chapters · 488 sections in this title.
R.I. Gen. Laws § 19-14.6-1. Form of agreement
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(a) Every agreement shall: (1) Be dated and signed by, or on behalf of, the insured, and the printed portion thereof shall be in at least eight-point (8) type; (2) Contain the names and place of business of the insurance producer negotiating the insurance contract or contracts th…
R.I. Gen. Laws § 19-14.6-2. Limitation on interest and other charges
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(a) An insurance premium finance company shall not charge, contract for, receive, or collect any interest or discount charges at a rate in excess of that provided in § 6-26-2. (b) Interest on any insurance premium finance agreement is to be computed on the balance of the premium …
R.I. Gen. Laws § 19-14.6-3. Delinquency and cancellation charges
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(a) An insurance premium finance agreement may provide for payment by the insured of a delinquency charge ranging from one dollar ($1.00) to a maximum of five percent (5%) of an installment that is in default for a period of five (5) days or more. (b) The agreement may provide fo…
R.I. Gen. Laws § 19-14.6-4. Cancellation of insurance contract upon default
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(a) When an insurance premium finance agreement contains a power of attorney enabling the company to cancel an insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be cancelled by the company unless the cancellation is effectuated…
