Rhode Island § 27-9-20 § 27-9-20. Competitive rates as evidence of fairness — Profit as evidence of adequacy.

Rhode Island Statutes

§ 27-9-20 — § 27-9-20. Competitive rates as evidence of fairness — Profit as evidence of adequacy.

Rhode Island § 27-9-20

Title 27Insurance

Ch. 27-9Casualty Insurance Rating

This text of Rhode Island § 27-9-20 (§ 27-9-20. Competitive rates as evidence of fairness — Profit as evidence of adequacy.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 27-9-20 (2026).

Text

§ 27-9-20. Competitive rates as evidence of fairness — Profit as evidence of adequacy.
If the insurer making or issuing a contract or policy at a rate or premium less than
            that provided by any filing shall, at any hearing held pursuant to §§ 27-9-16 — 27-9-21, or pursuant to § 27-9-15, show to the satisfaction of the commissioner that the rate or premium was used in
            good faith to meet an equally low or lower net cost to the insured of a competitor,
            that showing shall be prima facie evidence that the rate or premium used is not unfairly
            discriminatory, and if the insurer using the rate or premium shall show to the satisfaction
            of the commissioner that it is writ

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§ 27-9-20. Competitive rates as evidence of fairness — Profit as evidence of adequacy.

If the insurer making or issuing a contract or policy at a rate or premium less than that provided by any filing shall, at any hearing held pursuant to §§ 27-9-16 — 27-9-21, or pursuant to § 27-9-15, show to the satisfaction of the commissioner that the rate or premium was used in good faith to meet an equally low or lower net cost to the insured of a competitor, that showing shall be prima facie evidence that the rate or premium used is not unfairly discriminatory, and if the insurer using the rate or premium shall show to the satisfaction of the commissioner that it is writing a kind or class of insurance at a profit, that showing shall be prima facie evidence that the rate or premium used is not inadequate.