Insurance Regulation 112 - Senior Specifications
230-RICR-20-25-13 INACTIVE RULE
| Title | 230 | Department of Business Regulation (includes the Office of the Health Insurance Commissioner) |
| Chapter | 20 | Insurance |
| Subchapter | 25 | Life and Annuities |
| Part | 13 | Insurance Regulation 112 - Senior Specifications |
| Type of Filing | Adoption |
| Regulation Status | Inactive |
| Effective | 05/26/2009 to 05/26/2009 |
Regulation Authority:
R.I.Gen. Laws §§ 27-29-1 et seq., 42-14-17
Purpose and Reason:
The Department of Business Regulation (“Department”) hereby adopts amendments to Insurance Regulation 112 effective May 26, 2009 and makes this statement in accordance with R.I. Gen. Laws § 42-35-2.3. The Department makes these amendments in order to set forth standards to protect consumers from misleading and fraudulent marketing practices with respect to the use of senior-specific certifications and professional designations in the solicitation, sale or purchase of, or advice made in connection with, a life insurance or annuity product. The regulation is based upon the National Association of Insurance Commissioners Model with the goal of providing continuity with other states. There are no differences between the text of the proposed rule as published in accordance with R.I. Gen. Laws § 42-35-3 and the rule as adopted.
