Insurance Regulation 52 - Advertisements of Life Insurance and Annuities
230-RICR-20-25-5 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 | 5 | Insurance Regulation 52 - Advertisements of Life Insurance and Annuities |
| Type of Filing | Adoption |
| Regulation Status | Inactive |
| Effective | 09/30/2009 to 09/30/2009 |
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 52 effective September 30. 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 minimum standards and guidelines to assure a full and truthful disclosure to the public of all material and relevant information in the advertising of life insurance policies and annuity contracts. The regulation is based upon the National Association of Insurance Commissioners (NAIC) Model with the goal of providing continuity with other states. There are two 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. Those differences are: 1. Section 3 – Paragraphs F & G were incorrectly numbered in the proposal and have been renumbered H & I.. 2. Section 6(N) in the proposal was missing the phrase “of a recognized trade or profession association having such terms as part of its” which is included in the NAIC Model Act. The phrase was added to the paragraph to track the Model Act.
