2019 -- H 5457 | |
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LC001494 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2019 | |
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A N A C T | |
RELATING TO INSURANCE | |
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Introduced By: Representatives Kennedy, Azzinaro, Johnston, and Casey | |
Date Introduced: February 14, 2019 | |
Referred To: House Corporations | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 27-3 of the General Laws entitled "Surplus Lines Insurance" is |
2 | hereby amended by adding thereto the following section: |
3 | 27-3-38.3. Exception to life and health and accident exemption. |
4 | The provisions of this chapter do not apply to life and health and accident, as noted in ยง |
5 | 27-3-38(a), and surplus lines brokers may not place insurance in those lines in the surplus market. |
6 | An exception is hereby made to this prohibition for the procurement of disability insurance with a |
7 | benefit limit in excess of a benefit limit available from an admitted insurer. For that class of |
8 | business only, a broker may obtain insurance from the surplus market. |
9 | SECTION 2. This act shall take effect upon passage. |
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LC001494 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO INSURANCE | |
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1 | This act would allow disability insurance with a benefit limit in excess of a benefit limit |
2 | available from an admitted insurer to be written in the surplus lines market. |
3 | This act would take effect upon passage. |
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