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Issue

Bill #

Bill Description

Financial Regulations

(Insolvency Fund)

HB 5776

Extends the date of lapse for the ability to assess from different accounts to make all necessary payments from any underfunded account from December 31, 1998 to December 31, 2006. LAW. Effective 7/7/05. Chapter 189, Laws of 2005.

Identity Theft

HB 6191

Creates the Rhode Island Identity Theft Protection Act of 2005, establishing standards for protection against security breach and penalties for violation. LAW. Effective 3/1/06. Chapter 225, Laws of 2005.

Licensure

HB 5302

Changes the number of years insurers must hold a license in order to qualify for a continuing education exemption. LAW. Effective 6/16/05. Chapter 44, Laws of 2005.

Licensure

SB 210

Changes the number of years insurers must hold a license in order to qualify for a continuing education exemption. LAW. Effective 6/29/05. Chapter 89, Laws of 2005.

Miscellaneous New Insurance Provisions

(Emergency Adjusters)

HB 5205 (SB 41)

Amends current law to authorize the Insurance Commissioner to permit experienced adjusters not licensed in Rhode Island to engage in emergency insurance adjustment work for losses in Rhode Island in the event of an emergency as determined by the Commissioner, or the declaration of a state of disaster by the Governor or the President of the United States. LAW. Effective 7/2/05. Chapter 140, Laws of 2005.

(Interstate Compact on Product Regulation)

SB 541

Allows Rhode Island to become a member of the interstate insurance product regulation commission, designating the state insurance commissioner as the states' representative to that entity. Requires approved carriers to pay required fees before using approved forms. LAW. Effective upon passage. Chapter 173, Laws of 2005.

(Lead Paint)

SB 1174

Amends provisions of the lead hazard mitigation act. No insurance-specific provisions affected. LAW. Effective 7/1/05. Chapter 142, Laws of 2005.

(Unfair Practices)

HB 5876

Among other things, limits the amount of late fees an insurer may impose when premiums are received late. Also requires all policies contain clear language on the method of returned premiums if policy is cancelled. And, requires written notice of claim settlement payments and provides the procedure for insurer retention of unpaid premium settlements. LAW. Effective 1/1/06. Chapter 79, Laws of 2005.

(Unfair Practices)

SB 489

Among other things, limits the amount of late fees an insurer may impose when premiums are received late. Also requires all policies contain clear language on the method of returned premiums if policy is cancelled. And, requires written notice of claim settlement payments and provides the procedure for insurer retention of unpaid premium settlements. LAW. Effective 1/1/06. Chapter 69, Laws of 2005.

Motor Vehicle Insurance

(Commercial Driver's License Act)

HB 5965

Amends several sections of the Rhode Island Uniform Commercial Driver's License Act and other motor vehicle sections. LAW. Effective 6/24/05. Chapter 82, Laws of 2005.

(Commercial Driver's License Act)

SB 732

Amends several sections of the Rhode Island Uniform Commercial Driver's License Act and other motor vehicle sections. LAW. Effective 6/24/05. Chapter 77, Laws of 2005.

(Repair Shops)

HB 5499

Requires that any evidence of proof of financial responsibility or security must include a statement that an insurance company cannot require that repairs to a motor vehicle be made at a particular auto body shop or facility. LAW. Effective 9/6/05. Chapter 205, Laws of 2005.

(Repair Shops)

HB 6140

Requires repair shops to display notices indicating that insurers may not require repairs to be made at particular repair shops. LAW. Effective upon passage. Chapter 278, Laws of 2005.

(Repair Shops)

HB 6248

Increases the number of members on the auto collision repair licensing advisory board from seven to eight and allows the board to submit unresolved issues related to its jurisdiction, or relating to the scope of this statute, to the director of the department of business regulation for resolution. LAW. Effective 7/8/05. Chapter 201, Laws of 2005.

(Unlicensed Drivers)

HB 5045

Establishes penalties for drivers who have never applied for a driver's license or who otherwise operate a motor vehicle without a driver's license. LAW. Effective 7/19/05. Chapter 379, Laws of 2005.

(Unfair Claims Practices - Rental Vehicles)

HB 5494

Includes in the definition of an unfair claims practice engaging in any act or practice of intimidation, coercion, threat or misrepresentation of consumers rights, for or against any insured to use a particular rental car company for motor vehicle replacement services or products; or refusing to honor a direction to pay made by an insured expressing the wish that the insurance company pay the insured's motor vehicle replacement vehicle rental benefit directly to the Rhode Island licensed rental car company of the insured's choice. LAW. Effective 7/16/05.

Producer Compensation

HB 6233 (SB 1015)

Provides rules for the disclosure of compensation where any insurance producer receives any form of compensation from a customer for the initial placement of insurance. LAW. Effective 1/1/06. Chapter 116, Laws of 2005.

Standard Fire Policy

SB 327

Requires a notice to policyholders that the standard fire insurance policy may not cover damage caused by floods. The notice would provide information on the National Flood Insurance Program and advise the policyholder to contact his or her insurer or producer for further assistance on FEMA or on the availability of flood insurance. LAW. Effective 1/1/06. Chapter 172, Laws of 2005.

Surplus Lines

SB 542

Increases the amount of trust fund required for a lien surplus lines insurers from $250,000 to $5 million. LAW. Effective upon passage. Chapter 287, Laws of 2005.

Workers' Compensation

(Benefits)

HB 5858

Provides that any state employee receiving workers' compensation benefits for total disability would also be entitled to receive the health insurance benefits he or she was receiving at the time of inquiry. LAW. Effective 7/19/05. Chapter 403, Laws of 2005.

(Group Insurance and Highly Protected Risks)

SB 549

Allows insurance companies to offer workers' compensation and employers' liability coverage to groups of employer beneficiaries and defines a "highly protected risk" as a fire resistive building that meets the highest standards of fire safety according to insurance company underwriting requirements. LAW. Effective 7/6/05. Chapter 174, Laws of 2005.

(State Oversight)

HB 5177

This law provides that the workers' compensation administrator would be appointed to serve a term of 5 years by the chief judge of the workers' compensation court, with the advice and consent of the senate. LAW. Effective 5/4/05. Chapter 05-021, Laws of 2005.