§ 31-33-9. Self-insurers.
(a) Any person in whose name more than twenty-five (25) vehicles are registered in this state may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the department of business regulation as provided in subsection (b) of this section.
(b) The department of business regulation may, in its discretion, upon the application of such a person, issue a certificate of self-insurance when it is satisfied that the person is possessed, and will continue to be possessed of, the ability to pay judgment obtained against the person. The certificate may be issued authorizing a person to act as a self-insurer for either property damage or bodily injury, or both.
(c) Upon not less than five (5) days’ notice and a hearing pursuant to notice, the department of business regulation may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within thirty (30) days after the judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.
(d) Entities applying to, or previously authorized to, permissibly self-insure are subject to the jurisdiction of the department of business regulation. The department of business regulation is authorized to promulgate and enforce rules and regulations that may be necessary to carry out the provisions of this section including, but not limited to:
(1) Obtaining and reviewing financial statements and related information necessary to ascertain the applicant’s ability to self-insure.
(2) Apportioning the cost of review to the applicant in a manner similar to that utilized to charge insurance companies for review and analysis of their financial statements.
(3) Imposing and enforcing upon entities authorized to permissibly self-insure any and all claims handling and settlement practices required of insurers in the settlement of claims.
History of Section.P.L. 1952, ch. 3002, § 34; G.L. 1956, § 31-31-8; P.L. 1962, ch. 204, § 2; G.L. 1956, § 31-33-9; P.L. 2014, ch. 29, § 1; P.L. 2014, ch. 36, § 1.
Structure Rhode Island General Laws
Title 31 - Motor and Other Vehicles
Chapter 31-33 - Safety Responsibility Violations — General Provisions
Section 31-33-1. - Accident reports.
Section 31-33-2. - Failure to file accident report.
Section 31-33-3. - Falsification of reports or proof of responsibility.
Section 31-33-4. - Transfer of registration to defeat purpose.
Section 31-33-5. - Surrender of license and registration.
Section 31-33-6. - Owner’s liability for acts of others.
Section 31-33-7. - Prima facie evidence of consent of owner.
Section 31-33-8. - Assigned risk plans.
Section 31-33-8.1. - Joint distribution of accident reports.
Section 31-33-9. - Self-insurers.
Section 31-33-10. - Statement as to liability insurance not included in sale of vehicle.
Section 31-33-11. - Proof of responsibility for registration of vehicles owned by minors.
Section 31-33-12. - Proof of responsibility for registration of vehicles for hire.
Section 31-33-13. - Proof of responsibility to obtain dealers’ plates.
Section 31-33-14. - Return of registration plates on disposing of vehicle.
Section 31-33-15. - Suspension of fraudulent registration of vehicle owned by minor.
Section 31-33-16. - Examination of vehicles and licenses on highways.