§ 27-9-43 — § 27-9-43. Assigned risk agreements — Modification of rates.

Rhode Island § 27-9-43

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-9: Casualty Insurance Rating

Text

§ 27-9-43. Assigned risk agreements — Modification of rates.

(a) Agreements may be made among insurers with respect to the equitable apportionment among them of insurance that may be afforded applicants who are in good faith entitled to but who are unable to procure insurance through ordinary methods, and insurers may agree among themselves on the use of reasonable rate modifications for that insurance, those agreements and rate modifications to be subject to the approval of the commissioner.

(b) All of the manuals of classifications, rules and rates, rating plans, and rating systems, and every modification of these, to be used by insurers pursuant to assigned risk agreements shall be filed with the commissioner pursuant to § 27-9-8 and shall be used by all insurers writing workers' compensation and employers' liability insurance in this state, notwithstanding any provision of § 27-9-8 to the contrary.

Legislative History

P.L. 1948, ch. 2089, § 14; G.L. 1956, § 27-9-43; P.L. 1982, ch. 32, art. 5, § 1.