Insurance Regulation 20 - Consent to Rate
230-RICR-20-60-2 INACTIVE RULE
| Title | 230 | Department of Business Regulation (includes the Office of the Health Insurance Commissioner) |
| Chapter | 20 | Insurance |
| Subchapter | 60 | Miscellaneous |
| Part | 2 | Insurance Regulation 20 - Consent to Rate |
| Type of Filing | Amendment |
| Regulation Status | Inactive |
| Effective | 04/15/2009 to 04/15/2009 |
Regulation Authority:
27-6-14, 27-7.1-6.2, 27-9-13, 27-44-6 and 42-14-17 and 2003 P.L. ch. 410
Purpose and Reason:
The Department of Business Regulation (“Department”) hereby adopts amendments to Insurance Regulation 20 effective April 15, 2009 and makes this statement in accordance with R.I. Gen. Laws § 42-35-2.3. The Department makes these amendments in order to specifically identify all statutes concerning consent to rate and to update the requirements under those statutes. There are six 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 2 was amended to explicitly state that Commercial Special Risks are not subject to the Regulation. 2. Section 4(1) (d) (h) and (k)(now j) were amended for purposes of clarity. 3. Section 4(1)(i) was eliminated as unnecessary. 4. Section 4(4) was amended to add the risk manager or president as alternatives to the Board of Directors. 5. Section 4(5) was amended to reduce the filing time to twenty days before the effective date. 6. Section 4(6) was amended to provide that the Department would inform of a rejection at least ten days before the effective date to allow time to replace the policy.
