COMMERCIAL INSURANCE CANCELLATION, NON-RENEWAL AND PREMIUM OR COVERAGE CHANGES, 230 RICR 020-20-1

Summary

Section 1.1 Authority

This Regulation is promulgated in accordance with R.I. Gen. Laws §§ 27-29-17 through 17.4, 27-3-40, 27-65-1 and 42-14-17.

Section 1.2 Purpose and Applicability

A. The purpose of this Regulation is to govern cancellation, nonrenewal and notice of premium or coverage changes of commercial insurance policies

B. This regulation shall apply to:

1. commercial property insurance policies;

2. commercial liability insurance policies;

3. commercial package policies;

4. commercial excess or umbrella policies, and

5. commercial auto policies.

C. This regulation shall not apply to:

1. reinsurance, aviation, workers' compensation and employer liability insurance, multi-state location risks or policies subject to retrospective rating plans. Nothing in this regulation is intended to abrogate or supersede statutory requirements relative to the policies delineated above.

2. insurance policies issued pursuant to R.I. Gen. Laws § 27-3-40 by approved surplus lines ...