Title 27
Insurance

Chapter 6.1
Lender-Placed Insurance

R.I. Gen. Laws § 27-6.1-1

§ 27-6.1-1. Purpose.

The purpose of this chapter is to:

(1) Promote the public welfare by regulating lender-placed insurance on real property.

(2) Create a legal framework within which lender-placed insurance on real property may be written in this state.

(3) Help maintain the separation between lenders/servicers and insurers/insurance producers.

(4) Minimize the possibilities of unfair competitive practices in the sale, placement, solicitation, and negotiation of lender-placed insurance.

History of Section.
P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.