Title 27, Title 27 Title 27

An insurer shall not refuse to insure, or continue to insure, limit coverage available to, charge a reinstatement fee for, or increase the premiums for automobile insurance solely because a person failed to maintain insurance for a vehicle owned by the person during the six-month…

(a) An insurer may satisfy its obligation to make filings by becoming a member of, or a subscriber to, a licensed advisory organization that makes filings, and by authorizing the director to accept those filings on its behalf; provided, that nothing contained in this chapter shal…

Any advisory organization, in addition to other activities not prohibited, is authorized, on behalf of its members and subscribers, to: (1) Develop statistical plans including territorial and class definitions; (2) Collect statistical data from members, subscribers, or any other …

Except as expressly provided in this chapter and chapter 7.1 of this title, the provisions of this chapter shall not apply to workers’ compensation insurance.

The commissioner shall review filings as soon as reasonably possible after they have been made in order to determine whether they meet the requirements of this chapter.

This chapter governs the qualifications and procedures for the licensing of: (1) Public adjusters; (2) Company adjusters; and (3) Independent adjusters. It specifies the duties of, and restrictions on, public, company, and independent adjusters. The restrictions on public adjuste…

(a) “Adjuster” means an individual licensed as either a public, company, or independent adjuster. (b) “Catastrophic disaster” according to the Federal Response Plan, means an event that results in large numbers of deaths and injuries; causes extensive damage or destruction of fac…

(a) A person shall not act or hold themself out as a public, company, or independent adjuster in this state unless the person is licensed in accordance with this chapter. (b) A person licensed as a public adjuster shall not misrepresent to a claimant that the person is an adjuste…

If, after a hearing, the commissioner finds that the furnishing of any information or assistance to a claims adjuster involves any act or practice that is unfair or unreasonable or inconsistent with the provisions of this chapter, the commissioner may issue a written order specif…

Any person who acts as an adjuster, other than for life and accident and health insurance, without holding a current, valid license as provided in this chapter, or shall act in any manner in the negotiation of any insurance claim agreement in violation of any provision of this ch…

(a) The insurance commissioner may place on probation, suspend, revoke, or refuse to issue or renew an adjuster’s license or may levy a civil penalty in accordance with § 42-14-16 or any combination of actions for any one or more of the following causes: (1) Providing incorrect, …

The insurance commissioner shall have the authority to promulgate all reasonable rules and regulations necessary to effect and to enforce the purposes and provisions of this chapter. Included within this authority is the power to set standards for public adjuster fees, the terms …

Nothing in this chapter shall be construed to authorize any conduct prohibited by the provisions of chapter 27 of title 11.

The provisions of this chapter shall not apply to the following: (1) An attorney at law admitted to practice in this state, acting in their professional capacity as an attorney; (2) Either an insurance producer of a domestic insurance company or an insurance producer duly license…

(a) The insurance commissioner may issue to any person a license to act as either a public adjuster; company adjuster; or independent adjuster once that person files an application in a format prescribed by the department and declares under penalty of suspension, revocation, or r…

The commissioner shall issue a license as an insurance claim adjuster, other than for life and accident and health insurance, without the payment of a fee, to any honorably discharged soldier, sailor, or marine who has at any time served the United States in time of war, and who …

(a) Unless denied licensure, persons who have met the requirements of § 27-10-3 shall be issued either a public, company, or independent adjuster license. (b) A company or independent adjuster may qualify for a license in one or more of the following lines of authority: (1) Prope…

(a) The department shall subject the applicant to a written examination as to the applicant’s competency to act as an insurance claim adjuster. The examination shall test the knowledge of the individual concerning the duties and responsibilities of an adjuster and the insurance l…

(a) An individual who applies for an adjuster license in this state who was previously licensed as an adjuster in another state based on an adjuster examination shall not be required to complete the examination. This exemption is only available if the person is currently licensed…

(a) Unless denied licensure, a nonresident person shall receive a nonresident adjuster license if: (1) The person is currently licensed as a resident adjuster and is in good standing in the person’s home state; (2) The person has submitted the proper request for licensure and has…

(a) In the event of a declared catastrophe, an insurer shall notify the department, via an application for temporary emergency licensure, of each individual, not already licensed in the state where the catastrophe has been declared, who will act as an emergency company or indepen…

(a) The insurance commissioner shall have the power to examine and investigate into the affairs of every person engaged in the business of negotiating adjustments of insurance claims and claims under fidelity and surety bonds. (b) The insurance commissioner, upon a hearing, may a…

The purpose of this chapter is to protect the interest of insureds, claimants, ceding insurers, assuming insurers and the public generally. The legislature hereby declares its intent is to ensure adequate regulation of insurers and reinsurers and adequate protection for those to …

(a) Credit for reinsurance shall be allowed a domestic ceding insurer as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of subsections (b), (c), (d), (e), (f), (g), or (h) of this section; provided, fur…

(a) No credit shall be allowed for reinsurance unless the reinsurance agreement provides that payments by the assuming company shall be made directly to the ceding company or to its liquidator, receiver, or statutory successor, except where the contract specifically provides dire…

An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of § 27-1.1-1 shall be allowed in an amount not exceeding the liabilities carried by the ceding insurer; provided, further, that the commissi…

(a) For the purposes of § 27-1.1-2(3), “qualified United States financial institution” means an institution that: (1) Is organized, or in the case of a U.S. office of a foreign banking organization is licensed, under the laws of the United States or any of its states; (2) Is regu…

(a) The commissioner may adopt reasonable rules and regulations implementing the provisions of this law. (b) The commissioner is further authorized to adopt rules and regulations applicable to reinsurance arrangements described in subsection (b)(1) of this section. (1) A regulati…

This chapter shall apply to all cessions after the effective date of this chapter under reinsurance agreements that have an inception, anniversary, or renewal date not less than six (6) months after the effective date of this chapter.

No credit shall be allowed as an admitted asset or as a deduction from liability to any ceding company for reinsurance unless the reinsurance is payable by the assuming company on the basis of the liability of the ceding company under the contract or contracts reinsured without d…

Any life insurance company incorporated under a charter granted by the general assembly of this state and any life insurance company incorporated under a charter or the laws of any other state in the United States of America which is empowered to engage in the business of making …

A life insurance company may use existing structures, may erect or cause to be erected new structures, may use any combination of existing structures and new structures, and may maintain, repair, alter, demolish, and reconstruct those structures. “Structures” as used in this sect…

No real property shall be purchased, leased, held, or improved under this chapter if the cost or value of the property, or the cost of the improvements on it, or all of them on the date of the purchase, lease, or acquisition, plus the book value on the date of all real property h…

(a) The purpose of this chapter is to: (1) Provide the insurance commissioner a summary of an insurer or insurance group’s corporate governance structure, policies, and practices to permit the commissioner to obtain and maintain an understanding of the insurer’s corporate governa…

As used in this chapter: (1) “Commissioner” means the director of the department of business regulation and any assistant to the director. (2) “Corporate governance annual disclosure” (CGAD) means a confidential report filed by the insurer or insurance group made as required by t…

(a) An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to the commissioner a corporate governance annual disclosure (CGAD) that contains the information described in this section and § 27-1.2-5(b). Notwit…

The commissioner may, in accordance with the administrative procedures act, chapter 35 of title 42, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this chapter.

(a) The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the commissioner to obtain an understanding of the insurer’s or group’s corporate governance structure, …

(a) Documents, materials, or other information, including the CGAD, in the possession or control of the division of insurance that are obtained by, created by, or disclosed to the commissioner or any other person under this chapter, are recognized by this state as being proprieta…

(a) The commissioner may retain, at the insurer’s expense, third-party consultants, including attorneys, actuaries, accountants, and other experts, not otherwise a part of the commissioner’s staff, as may be reasonably necessary to assist the commissioner in reviewing the CGAD an…

Any insurer failing, without just cause, to timely file the CGAD as required in this chapter shall be required, after notice and hearing, to pay a penalty of two hundred fifty dollars ($250) for each day’s delay, to be recovered by the commissioner, and the penalty so recovered s…

If any provision of this chapter other than § 27-1.2-6, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or applica…

(a) Every insurance company of any name or kind doing business in this state shall annually on the first day of January, or within two (2) months after that date, file with the insurance commissioner an annual National Association of Insurance Commissioners statement convention b…

The insurance commissioner shall annually publish for distribution an abstract of the statements filed in the commissioner’s office by all insurance companies as required by § 27-12-1. The expense of publishing and distributing those abstracts shall be paid by the insurance compa…

(a) The insurance commissioner shall annually examine the statements and returns required to be made by the companies and insurance producers, and if, in the commissioner’s opinion, any return is obscure, defective, or unsatisfactory the commissioner shall immediately require ans…

Every insurance producer who shall refuse or neglect to answer any interrogatories required under § 27-12-3 for the space of thirty (30) days, and continues to act as an insurance producer, shall be liable to the penalty prescribed in § 27-2.4-14.