Rhode Island Automobile Insurance Plan (formerly Insurance Regulation 98) (230-RICR-20-05-8)

230-RICR-20-05-8 ACTIVE RULE

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8.4Allocation of Plan Expenses and Losses

8.5Rate Adjustment

8.6Authority to Issue Assigned Risk Automobile Insurance Policies


8.8Effective Date

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 8 Rhode Island Automobile Insurance Plan (formerly Insurance Regulation 98) (230-RICR-20-05-8)
Type of Filing Direct Final Amendment
Regulation Status Active
Effective 02/03/2022

Regulation Authority:

R.I. Gen. Laws § 27-9-43
R.I. Gen. Laws § 31-33-8

Purpose and Reason:

This regulation is being amended to incorporate 2018 Department of Business Regulation guidance provided to the Rhode Island Automobile Insurance Plan.  In addition, certain citations to the R.I. Gen. Laws were reformatted, the following is a summary of the substantive, non-technical changes are:

§ 8.3(A)(4) deleted the term “insurance commissioner” because is not used in the regulation.

§ 8.6(F)(1)-(6) Added new paragraphs to incorporate previous guidance provided to the R.I. Automobile Insurance Plan in Department correspondence regarding the filing of quarterly and annual financial statements with the National Association of Insurance Commissioners (NAIC).

The Department does not expect these proposed amendments to be controversial.