Chapter
104
2003 -- H 5063
Enacted 07/03/03
A N A C T
RELATING
TO INSURANCE
Introduced
By: Representatives Menard, and Winfield
Date
Introduced: January 15, 2003
It
is enacted by the General Assembly as follows:
SECTION
1. Section 27-5-3.4 of the General Laws in Chapter 27-5 entitled "Fire
Insurance
Policies and Reserves" is hereby amended to read as follows:
27-5-3.4.
Cancellation or nonrenewal of standard fire insurance policy. -- (a) A
company
issuing any policy of insurance which is subject to cancellation or nonrenewal
by the
company
shall effect cancellation or nonrenewal by serving the notice of it provided by
the
policy.
That notice shall be delivered in hand to the named insured, or be left at his
or her last
address
as shown by the company's records, or, if its records contain no last address,
at his or her
last
business, residence, or other address known to the company, or be forwarded to
that address
by
certified mail, return receipt requested. A return receipt from the United
States postal service
showing
receipt of the notice at the address of the insured stated in the policy shall
be sufficient
proof
of notice. If the company does not receive a return receipt from the United
States postal
service
within ten (10) days, then the company shall forward the notice by first class mail and
maintain
proof of mailing of the notice to the insured by the United States Postal
Service
certificate
of mailing
in the ordinary course of the insurer's business, and this proof of mailing
shall
be sufficient proof of notice.
(b) If a policy is made payable to a mortgagee or any person other than the
named
insured,
notice shall be given as provided in subsection (a) to the payee and to the
named insured.
(c) Policies subject to cancellation by the named insured upon giving notice to
the
company
may be cancelled by serving notice in the manner provided in subsection (a) of
this
section
upon the company or upon its insurance producer who issued the policy.
SECTION
2. This act shall take effect upon passage.
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LC00547
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