Title 27, Title 27 Title 27

Before being licensed to do insurance business in this state, a title insurer shall establish and maintain a minimum paid-in capital of not less than five hundred thousand dollars ($500,000) and, in addition, paid-in initial surplus of at least five hundred thousand dollars ($500…

In determining the financial condition of a title insurer doing business under this chapter, the investment provisions of chapters 11 and 11.1 of this title shall apply, except that an investment in a title plant or plants in an amount equal to the actual cost shall be allowed as…

In determining the financial condition of a title insurer doing business under this chapter, the Rhode Island general laws requiring the establishment of reserves sufficient to cover all known and unknown liabilities including allocated and unallocated loss adjustment expense, sh…

For purposes of this chapter, the following terms shall have the following meanings: (1) “Customer” means a person who purchases portable electronics or services. (2) “Department” means the department of business regulation. (3) “Enrolled customer” means a customer who elects cov…

(a) A vendor is required to hold a portable electronics insurance vendor license to sell or offer coverage under a policy of portable electronics insurance. (b) A portable electronics insurance vendor license issued under this chapter shall authorize any employee or authorized re…

(a) At every location where portable electronics insurance is offered to customers, brochures or other written materials must be made available to a prospective customer which: (1) Disclose that portable electronics insurance may provide a duplication of coverage already provided…

(a) The employees and authorized representatives of vendors may sell or offer portable electronics insurance to customers and shall not be subject to licensure as an insurance producer under this title provided that: (1) The vendor obtains a portable electronics insurance vendor …

If a portable electronics insurance vendor or its employee or authorized representative violates any provision of this section, the insurance commissioner may do any of the following: (1) After notice and hearing, impose fines not to exceed five hundred dollars ($500) per violati…

Notwithstanding any other provision of law: (1) An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the vendor and its enrolled customers with at least thirty (30) days’ notice. An insurer may not…

(a) A sworn application for a license under this chapter shall be made to and filed with the department on forms prescribed and furnished by the department in accordance with the provisions of § 27-2.4-9(a)(8). (b) The application shall: (1) Provide the name, residence address, a…

For purposes of this chapter, the following terms shall have the following meanings: (1) “Commissioner” means the definition prescribed by § 42-14-5. (2) “Location” means any physical location in the state of Rhode Island or any website, call center site, or similar location dire…

(a) An owner and its authorized representatives and employees may sell, solicit, and offer self-service storage insurance coverage without obtaining an insurance producer license pursuant to the requirements set forth in §§ 27-2.8-3 and 27-2.8-4. (b) The supervising entity shall …

(a) At every location where self-service storage insurance is offered to occupants, brochures or other written or electronic materials must be made available that: (1) Disclose that self-service storage insurance may provide a duplication of coverage already provided by a homeown…

(a) The employees and authorized representatives of owners may sell, solicit, and offer self-service storage insurance and shall not be subject to licensure as an insurance producer under this title; provided that: (1) The insurer issuing the self-service storage insurance either…

If an owner or its employee or authorized representative violates any provision of this chapter, the commissioner, after notice and opportunity for a hearing, may impose any penalty as appropriate pursuant to § 42-14-16.

The purpose of this chapter is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in 15 U.S.C. § 1011 et seq., by defining, or providing for the determination of, all trade practices in this state that constitute unfair…

The powers vested in the insurance commissioner by this chapter shall be additional to any other powers to enforce any penalties, fines, or forfeitures authorized by law with respect to the methods, acts, and practices declared to be unfair or deceptive.

If any person shall ask to be excused from attending and testifying or from producing any books, papers, records, correspondence, or other documents at any hearing on the ground that the testimony or evidence required may tend to incriminate or subject the person to a penalty or …

The commissioner of insurance may adopt reasonable rules and regulations for the implementation and administration of this chapter.

Notwithstanding the provisions of chapter 14.6 of title 19, private passenger motor vehicle insurance policyholders on either six-month (6) or twelve-month (12) policies shall have the option of paying any policy premiums in installment payments; provided that for a twelve-month …

An insurer may levy and collect a maximum fee or charge of ten dollars ($10.00) for any late payment of premium by a policyholder for any property, casualty, fire and marine or liability policy of insurance. A late fee may not be imposed unless payment is received more than five …

Every insurance policy issued and approved for use in Rhode Island shall provide clear language on the method of calculation of the unearned premium portion, if any, to be returned to the insured if the policy is canceled. Insurance policies shall not state “refer to manuals” to …

Notwithstanding any similar requirements in title 28, every claim form and application for insurance, regardless of the form of transmission, shall contain the following statement or a substantially similar statement; provided, that this section shall not apply to any claim form …

No insurance company, authorized or licensed to do business in the state of Rhode Island, that obtains insurance information through any residual market (mechanism), including, but not limited to, the assigned risk plans Joint Underwriting Association, including, but not limited …

If any provision of this chapter, or the application of a provision to any person or circumstances shall be held invalid, the remainder of the chapter, and the application of the provision to persons or circumstances other than those as to which it is held invalid, shall not be a…

Sections 27-29-17 — 27-29-17.4 shall apply to commercial property insurance policies, commercial liability insurance policies, commercial package policies, commercial excess or umbrella policies, and commercial auto policies. These sections shall not apply to reinsurance, aviatio…

For the purpose of §§ 27-29-17 — 27-29-17.4: (1) “Commissioner” means the commissioner of insurance. (2) “Expiration date” means the date upon which coverage under a policy ends. It also means, for a policy written for a term longer than one year or with no fixed expiration date,…

(a) An insurer may nonrenew a policy; provided, however, no nonrenewal of any policy of insurance to which this section applies shall be effective unless an insurer shall first give, mail, or deliver to the first-named insured at the address shown on the policy, and to the insura…

(a) An insurer shall provide to the first-named insured at the mailing address shown on the policy, and to the insurance producer of record, written notice of any premium increase in excess of ten percent (10%) and shall also provide the exact renewal premium, at least sixty (60)…

(a) A company issuing any policy of insurance subject to nonrenewal, a premium increase, a change in deductible, reduction in limits, or changes in coverage shall effect the same by serving the notice of it as provided by the policy. The notice shall be delivered in hand to the n…

(a) Upon request by the first-named insured or that insured’s authorized agent or broker, the insurer shall provide the following loss information, for the period of time coverage has been provided by the insurer or for five (5) years, whichever is less, within fourteen (14) days…

When used in this chapter: (1) “Commissioner” means the director of the department of business regulation. (2) “Consultant” means an individual, partnership, or corporation who or that, for a fee, holds himself, herself, or itself out to the public as engaged in the business of o…

No person shall engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to this chapter to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance.

The following are defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance: (1) Misrepresentations and false advertising of policies or contracts. Making, issuing, circulating, or causing to be made, issued, or circulated, a…

No insurance company authorized to do business in this state shall cancel or refuse to issue any type of insurance coverage for an owner-occupied dwelling or personal property of every nature and description solely because of the area in which the property is situated.

For each violation of § 27-29-4.1, the offending insurance company shall be fined a sum of five hundred dollars ($500) by the department of business regulation.

No insurance company authorized to do business in this state shall refuse to issue or charge an increased premium for a standard fire insurance policy for an occupied dwelling solely because of the fact that the building has formerly been unoccupied or vacant.

(a) Every insurance carrier authorized to sell motor vehicle liability insurance in the state shall conduct an auto body repair labor rate survey, subject to, and in accordance with, the following provisions: (1) When used in this section the following definitions shall apply: (i…

An insurer’s failure to comply with any requirement of § 27-29-4.4, or any rule or regulation promulgated by the department of business regulation shall result in a fine in a sum of up to five thousand dollars ($5,000).

The director of the department of business regulation may assess an insurer for reimbursement of the department’s actual expenses for the investigation and hearing of significant auto body shop matters relating to insurers. In addition, an assessment may be sought in the event th…

(a) In addition to those listed in § 27-29-4 the following are also defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance: (1) Twisting. Knowingly making any misleading representations or incomplete or fraudulent comparis…

(a) Whenever the insurance commissioner shall have reason to believe that any person engaged in the business of insurance in this state has been engaged or is engaging in this state in any unfair method of competition or any unfair or deceptive act or practice, whether or not def…

(a) If after a hearing the insurance commissioner shall determine that the method of competition or the act or practice in question is unfair and that the person complained of has engaged in a method of competition, act, or practice in violation of this chapter, the commissioner …

(a) Any person required by an order of the insurance commissioner under § 27-29-6 to cease and desist from engaging in any unfair method of competition or any unfair or deceptive act or practice may obtain a review of the order by filing in the superior court of Providence County…

(a) Whenever the insurance commissioner shall have reason to believe that any person engaged in the business of insurance is engaging in this state in any method of competition or in any act or practice in the conduct of business that is not defined in § 27-29-4, that the method …

(a) Any person who violates a cease and desist order of the insurance commissioner under § 27-29-6 after it has become final, and while the order is in effect, shall, upon proof of the violation to the satisfaction of the court, forfeit and pay to the state a sum not to exceed tw…