Title 27, Title 27 Title 27

(a) A financial institution shall prominently disclose in writing, in clear and concise language, to the institution’s customers, including in any advertisement or promotional material, pursuant to regulations prescribed by the commissioner, that insurance offered, recommended, s…

Solicitation for the purchase or sale of insurance by a financial institution shall be conducted only by persons whose responsibilities do not include loan transactions or other transactions involving the extension of credit, or the taking of deposits. For the purposes of this se…

No financial institution may: (1) Require as a condition of providing any product or service to any customer, or any renewal of any contract for providing the product or service, that the customer acquire, finance, or negotiate any policy or contract of insurance through a partic…

As used in this chapter, unless the context requires otherwise: (1) “Alien insurance company” means any insurance company incorporated or organized under the laws of any country other than the United States. (2) “Commissioner” means the director of the department of business regu…

Any alien insurance company, with the approval of the commissioner, may be treated, in whole or in part, as a domestic insurer of this state; provided, that: (1) The alien insurance company appoints a resident registered agent to accept service of process and to act on its behalf…

The commissioner in determining whether to approve an alien insurance company may consider: (1) Maintenance of an appropriate trust account, surplus account, or other financial mechanisms in this state; (2) Maintenance of all books and records of the United States operations in t…

(a) Every alien insurance company authorized to transact business in this state shall at all times maintain a deposit with the general treasurer of the state of Rhode Island in cash or in securities in which insurance companies are authorized to invest, a sum equal to the greater…

All provisions of this title shall apply to alien insurance companies as if the alien insurance companies were domestic insurance companies. If the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this…

The commissioner shall promulgate any rules and regulations required to implement this chapter.

This chapter may be cited as the “Unfair Discrimination Against Subjects of Abuse in Health Benefit Plans Act.”

For the purpose of this chapter: (1) “Abuse” means the occurrence of one or more of the following acts: (i) Attempting to cause or intentionally, knowingly, or recklessly causing another person, including a minor child, bodily injury, physical harm, severe emotional distress, psy…

A health carrier shall not engage, directly or indirectly, in an unfairly discriminatory act or practice against a subject of abuse.

The following acts are prohibited as unfairly discriminatory: (1) Denying, refusing to issue, renew, or reissue, canceling or terminating a health benefit plan, or restricting or excluding health benefit plan coverage or adding a premium differential to any health benefit plan on…

A health carrier that takes an action that adversely affects a subject of abuse on the basis of a medical condition that the health carrier knows or has reason to know is abuse-related shall explain the reason for its action to the applicant or insured, in writing, and shall be a…

Health carriers shall develop, file with the commissioner, and adhere to protocols specifying how health carrier employees, contractors, agents, and brokers will pursue an insurance action, including claims investigation and subrogation, that may impact the safety of a subject of…

Violations of this chapter are subject to the provisions of §§ 27-29-8 and 27-29-9 and may include injunctive relief and/or a requirement for restitution. The powers and duties set forth in this section are in addition to all other authority of the commissioner.

The purpose of this chapter is to: (1) Promote the public welfare by regulating lender-placed insurance on real property. (2) Create a legal framework within which lender-placed insurance on real property may be written in this state. (3) Help maintain the separation between lend…

The commissioner shall have all rights and powers to enforce the provisions of this chapter as provided by § 42-14-16. All proceedings, including judicial review, shall be conducted in accordance with the administrative procedures act, chapter 35 of title 42. Any penalties shall …

The commissioner may, after notice and hearing, promulgate reasonable regulations and orders to carry out and effectuate the provisions of this chapter.

If any provision of this chapter, or the application of the provision to any person or circumstance, is for any reason held to be invalid, the remainder of the chapter and the application of such provision to other persons or circumstances shall not be affected thereby.

(a) This chapter applies to insurers and insurance producers engaged in any transaction involving lender-placed insurance as defined in this chapter. (b) All lender-placed insurance written in connection with mortgaged real property, including manufactured and mobile homes, is su…

As used in this chapter: (1) “Affiliate” means a person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person specified. (2) “Commissioner” shall have the meaning established in § 42-14-5. (3) “I…

(a) Lender-placed insurance shall become effective no earlier than the date of lapse of insurance upon mortgaged real property subject to the terms of a mortgage agreement and/or any other state or federal law requiring the same. (b) Individual lender-placed insurance shall termi…

(a) Any lender-placed insurance coverage, and subsequent calculation of premium, should be based upon the replacement cost value of the property as best determined as follows: (1) The dwelling coverage amount set forth in the most recent evidence of insurance coverage provided by…

(a) An insurer or insurance producer shall not issue lender-placed insurance on mortgaged property that the insurer or insurance producer or an affiliate of the insurer or insurance producer owns, performs the servicing for, or owns the servicing right to the mortgaged property. …

Nothing in this chapter shall be construed to allow an insurance producer or an insurer solely underwriting lender-placed insurance to circumvent the requirements set forth within this chapter. This chapter shall apply to all insurers and insurance producers involved in lender-pl…

Lender-placed insurance shall be set forth in an individual policy or certificate of insurance. A copy of the individual policy, certificate of insurance, or other evidence of insurance coverage shall be mailed, first-class mailed, or delivered in person to the last known address…

(a) All policy forms and certificates of insurance to be delivered or issued for delivery in this state and the schedules of premium rates pertaining thereto shall be filed with the commissioner. (b) The commissioner shall review the rates to determine whether the rates are exces…

This chapter may be cited as the “Unfair Discrimination Against Subjects of Abuse in Life Insurance Act.”

For the purposes of this chapter: (1) “Abuse” means the occurrence of one or more of the following acts by a current or former family member, household member, intimate partner, or caretaker: (i) Attempting to cause or intentionally, knowingly, or recklessly causing another perso…

No insurer issuing or renewing a policy of life insurance in this state shall engage in an unfairly discriminatory act or practice against a subject of abuse, and that act or practice is deemed to be an unfair or deceptive act or practice under chapter 29 of this title.

(a) The following acts are prohibited as unfairly discriminatory: (1) Denying, refusing to issue, renew or reissue, canceling or otherwise terminating, restricting, or excluding insurance coverage on, or adding a premium differential to a life insurance policy for an applicant or…

An insurer of an individual or group policy that takes an underwriting action that adversely affects a subject of abuse on the basis of a medical condition that the insurer knows is abuse-related shall explain the reason for its action to the applicant or insured in writing and s…

Insurers shall develop and adhere to written policies specifying procedures to be followed by employees, contractors, producers, agents, and brokers for the purpose of protecting the safety and privacy of a subject of abuse and implement the provisions of this chapter when taking…

Violations of this chapter are subject to the provisions of §§ 27-29-8 and 27-29-9 and may include injunctive relief and/or a requirement for restitution. The powers and duties set forth in this section are in addition to all other authority of the commissioner.

The purpose of this chapter is to provide rules for life insurance policy illustrations that will protect consumers and foster consumer education. The chapter provides illustration formats, prescribes standards to be followed when illustrations are used, and specifies the disclos…

(a) The board of directors of each insurer shall appoint one or more illustration actuaries. (b) The illustration actuary shall certify that the disciplined current scale used in illustrations is in conformity with the actuarial standard of practice for compliance with the NAIC m…

Any violation of this chapter shall be sanctioned in accordance with the provisions of chapter 13.1 of title 6, the Deceptive Trade Practices Act.

This chapter applies to all group and individual life insurance policies and certificates except: (1) Variable life insurance; (2) Individual and group annuity contracts; (3) Credit life insurance; and (4) Life insurance policies with no illustrated death benefits on any individu…

As used in this chapter: (1) “Actuarial standards board” means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice. (2) “Contract premium” means the gross premium that is required to be paid under a fixed premium po…

(a) Each insurer marketing policies to which this chapter is applicable shall notify the commissioner whether a policy form is to be marketed with or without an illustration. For all policy forms being actively marketed on January 1, 1999, the insurer shall identify in writing th…

(a) An illustration used in the sale of a life insurance policy shall satisfy the applicable requirements of this chapter, be clearly labeled “life insurance illustration” and contain the following basic information: (1) Name of insurer; (2) Name and business address of producer …

(a) Format. A basic illustration shall conform to the following requirements: (1) The illustration shall be labeled with the date on which it was prepared. (2) Each page, including any explanatory notes or pages, shall be numbered and show its relationship to the total number of …

(a) A supplemental illustration may be provided so long as: (1) It is appended to, accompanied by, or preceded by a basic illustration that complies with this chapter; (2) The non-guaranteed elements shown are not more favorable to the policy owner than the corresponding elements…

(a)(1) If a basic illustration is used by an insurance producer or other authorized representative of the insurer in the sale of a life insurance policy and the policy is applied for as illustrated, a copy of that illustration, signed in accordance with this chapter, shall be sub…

(a) In the case of a policy designated as one for which illustrations will be used, the insurer shall provide each policy owner with an annual report on the status of the policy that shall contain at least the following information: (1) For universal life policies, the report sha…