2014 -- H 7402 | |
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LC003981 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2014 | |
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A N A C T | |
RELATING TO INSURANCE - INSURANCE BINDERS AS EVIDENCE OF COVERAGE | |
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Introduced By: Representative Stephen R.Ucci | |
Date Introduced: February 12, 2014 | |
Referred To: House Corporations | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 27-9.4-4 of the General Laws in Chapter 27-9.4 entitled "Insurance |
2 | Binders as Evidence of Coverage" is hereby amended to read as follows: |
3 | 27-9.4-4. Insurer obligations. -- An insurer that provides an insurance binder is |
4 | obligated to provide the coverage according to the terms of such binder including the time period |
5 | until the insurer issues the insurance policy or cancels the binder. |
6 | SECTION 2. This act shall take effect upon passage. |
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LC003981 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO INSURANCE - INSURANCE BINDERS AS EVIDENCE OF COVERAGE | |
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1 | This act would require that when a carrier provides an insurance binder, the carrier would |
2 | be liable according to the terms of the binder including the time period until the insurance policy |
3 | is issued or the binder is cancelled. |
4 | This act would take effect upon passage. |
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LC003981 | |
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