§ 27-4.6-9 — § 27-4.6-9. Supplemental provisions — Rules — Exemption.

Rhode Island § 27-4.6-9

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-4.6: Risk-Based Capital (RBC) for Insurers Act

Text

§ 27-4.6-9. Supplemental provisions — Rules — Exemption.

(a) The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under those laws, including, but not limited to, chapter 14.3 and chapter 14.2 of this title.

(b) The commissioner may adopt reasonable rules and regulations necessary for the implementation of this chapter.

(c) The commissioner may exempt from the application of this chapter any domestic property and casualty insurer which:

(1) Writes direct business only in this state;

(2) Writes direct annual premiums of two million dollars ($2,000,000) or less; and

(3) Assume no reinsurance in excess of five percent (5%) of direct premium written.

Legislative History

P.L. 1996, ch. 187, § 2.