INSURANCE REGULATION 116 Use of Credit - Extraordinary Life Events and Insufficient Credit
230-RICR-20-05-15 INACTIVE RULE
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| Title | 230 | Department of Business Regulation (includes the Office of the Health Insurance Commissioner) |
| Chapter | 20 | Insurance |
| Subchapter | 05 | Personal Lines - Automobile and Homeowners Insurance |
| Part | 15 | INSURANCE REGULATION 116 Use of Credit - Extraordinary Life Events and Insufficient Credit |
| Type of Filing | Adoption |
| Regulation Status | Inactive |
| Effective | 07/01/2011 to 07/01/2011 |
Regulation Authority:
R.I. Gen. Laws §§ 27-6-1 et seq., 27-9-1 et seq.; 27-44-1 et seq. and 42-14-17.
Purpose and Reason:
The purpose of this Regulation is to establish guidelines regarding insurer’s use of credit in underwriting and rating of homeowners and/or private passenger automobile insurance when a consumer experiences an extraordinary life event as defined in this Regulation and/or to address the absence of or insufficient credit history for an applicant or insured.
ACTIVE RULE
Periodic Refile
- effective from 01/04/2022
INACTIVE RULE
Adoption
- effective from 07/01/2011
to 07/01/2011