2013 -- S 0715

=======

LC01421

=======

STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2013

____________

A N A C T

RELATING TO INSURANCE

     Introduced By: Senators Jabour, Crowley, Picard, and Doyle

     Date Introduced: March 13, 2013

     Referred To: Senate Commerce

It is enacted by the General Assembly as follows:

1-1

     SECTION 1. Chapter 27-3 of the General Laws entitled "Surplus Lines Insurance" is

1-2

hereby amended by adding thereto the following section:

1-3

     27-3-40.1. Production of data. -- All surplus lines insurers insuring risks located within

1-4

this state shall, upon the reasonable request of the insurance division, produce date concerning

1-5

claims, premiums written and losses incurred within this state.

1-6

     SECTION 2. Sections 27-76-1 and 27-76-6 of the General Laws in Chapter 27-76

1-7

entitled "Weather Related Losses" are hereby amended to read as follows:

1-8

     27-76-1. Applicability. -- The Except for the provisions of section 27-76-6, the

1-9

provisions of this chapter shall be applicable only to personal lines residential property insurance

1-10

on dwelling houses.

1-11

     27-76-6. State of emergency; effect upon insurance policies; rules. -- (a) The

1-12

department of business regulation may promulgate regulations to take effect upon the declaration

1-13

of a catastrophe, as declared by a nationally recognized catastrophe loss index provider, that

1-14

address any of the following or other matters related to the catastrophe for insurance policies

1-15

issued in this state:

1-16

      (1) Reporting requirements for claims related to the emergency;

1-17

      (2) Grace periods for payment of insurance premiums and performance of other duties

1-18

by insureds (other than the duty to mitigate); and/or

1-19

      (3) Temporary postponement of cancellations and nonrenewals of insurance policies.

2-20

     (b) Subdivisions (a)(2) and (3) above apply to all insurance policies, regardless of the line

2-21

of insurance, issued to residents of this state displaced as a result of the catastrophe. The

2-22

regulations shall require the insurer to make reasonable efforts to contact the policyholder and

2-23

provide the accommodations requested by the policyholder, within the limits of accommodations

2-24

detailed in the regulation, upon confirmation that the policyholder has been displaced by the

2-25

catastrophe.

2-26

     SECTION 3. This act shall take effect upon passage.

=======

LC01421

========

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO INSURANCE

***

3-1

     This act would require surplus lines insurer to provide data upon request of the insurance

3-2

division and would expand the requirements to provide accommodations to a policyholder

3-3

affected by a catastrophe for all lines of insurance.

3-4

     This act would take effect upon passage.

=======

LC01421

=======