§ 27-54-8. Disclosure of arson conviction.
(a) Every insurance provider doing business within this state shall require applicants
for property insurance, real or personal, to disclose whether or not the applicant
or applicants have been convicted of any degree of the crime of arson as described
in chapter 4 of title 11 within ten (10) years of the application date.
(b) An insurance provider may use the existence of an arson conviction within ten (10)
years as a reason to deny coverage.
(c) Failure to disclose the existence of an arson conviction when requested upon an ins
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§ 27-54-8. Disclosure of arson conviction.
(a) Every insurance provider doing business within this state shall require applicants
for property insurance, real or personal, to disclose whether or not the applicant
or applicants have been convicted of any degree of the crime of arson as described
in chapter 4 of title 11 within ten (10) years of the application date.
(b) An insurance provider may use the existence of an arson conviction within ten (10)
years as a reason to deny coverage.
(c) Failure to disclose the existence of an arson conviction when requested upon an insurance
application shall be a misdemeanor punishable by a sentence of not more than one year
imprisonment.
(d) The insurance application form shall indicate the existence of a criminal penalty
for failure to disclose a conviction for arson.
(e) For the purpose of this section, "applicant� means a natural person, trust, partnership,
association, corporation, or other form of business organization; provided, that if
the applicant is a trust, the beneficiaries of the trust shall be included, and if
the applicant is a partnership, association, corporation, or other form of business
organization, each member, director, shareholder owning more than twenty percent (20%)
of the common stock issued by the corporation, and the principal officer of the corporation
shall be included.
(f) The provisions of this section do not apply to any policy with respect to highly protected
risks. A "highly protected risk� means a fire resistive building that meets the highest
standards of fire safety according to insurance company underwriting requirements.