§ 27-34-12.5 — § 27-34-12.5. Prevention of insolvencies.

Rhode Island § 27-34-12.5

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-34: Rhode Island Property and Casualty Insurance Guaranty Association

Text

§ 27-34-12.5. Prevention of insolvencies.

To aid in the detection and prevention of insurer insolvencies:

(1) The board of directors may, upon a majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.

(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may, upon a majority vote, prepare a report on the history and causes of the insolvency, based on the information available to the association and submit the report to the commissioner.

(3) Reports and recommendations provided under this section shall not be considered public documents.

Legislative History

P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.