§ 27-34-12.5. Prevention of insolvencies.
To aid in the detection and prevention of insurer insolvencies:
(1) The board of directors may, upon a majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.
(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may, upon a majority vote, prepare a report on the history and causes of the insolvency, based on the information available to the association and submit the report to the commissioner.
(3) Reports and recommendations provided under this section shall not be considered public documents.
History of Section.P.L. 2010, ch. 91, § 3; P.L. 2010, ch. 117, § 3.
Structure Rhode Island General Laws
Chapter 27-34 - Rhode Island Property and Casualty Insurance Guaranty Association
Section 27-34-1. - Short title.
Section 27-34-4. - Construction.
Section 27-34-5. - Definitions.
Section 27-34-6. - Creation of the association.
Section 27-34-7. - Board of directors.
Section 27-34-8. - Powers and duties of the association.
Section 27-34-9. - Plan of operation.
Section 27-34-10. - Duties and powers of the commissioner.
Section 27-34-10.5. - Coordination among guaranty associations.
Section 27-34-11. - Effect of paid claims.
Section 27-34-11.5. - Net worth exclusion.
Section 27-34-12. - Exhaustion of other coverage.
Section 27-34-12.5. - Prevention of insolvencies.
Section 27-34-14. - Tax exemption.
Section 27-34-15. - Recoupment of assessments.
Section 27-34-17. - Stay of proceedings.
Section 27-34-19. - Prohibition against advertising of membership in association.