(a)  At least once per year, or more frequently if deemed necessary, the commissioner shall make available in an appropriate manner to insurers and other entities subject to the scope of this chapter information on new laws and regulations, and other information the commissioner deems pertinent to ensure compliance with market conduct requirements. The failure of the commissioner to provide information shall not be a defense for an insurer that fails to comply with any insurance laws of this state.

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Terms Used In Rhode Island General Laws 27-71-14

  • Commissioner: means the "director of the department of business regulation" or his or her designee. See Rhode Island General Laws 27-71-3
  • Market analysis: means a process whereby market conduct surveillance personnel collect and analyze information from filed schedules, surveys, required reports, and other sources in order to develop a baseline and to identify patterns or practices of insurers licensed to do business in this state that deviate significantly from the norm or that may pose a potential risk to the insurance consumer. See Rhode Island General Laws 27-71-3
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6

(b)  Insurers who or that wish to receive the information indicated in subsection (a) above shall provide to the commissioner, in a form specified by the commissioner, contact information. The insurer is responsible for keeping that contact information up-to-date and informing the commissioner of any changes.

(c)  The commissioner shall designate a specific person or persons whose responsibilities shall include the receipt of information from employees of insurers and licensed entities concerning violations of laws, rules, or regulations by employers, as defined in this section. Such person or persons shall be provided with proper training on the handling of such information, which shall be deemed a confidential communication for the purposes of this section.

(d)  For any change made by the commissioner to procedures, guidelines, handbooks, or other work products of the NAIC referenced in this chapter, which materially changes the way in which market analysis, market conduct actions, or market conduct examinations are conducted, the commissioner shall give notice and provide parties with an opportunity for a public hearing pursuant to the Administrative Procedures Act, chapter 35 of Title 42.

History of Section.
P.L. 2008, ch. 72, § 1; P.L. 2008, ch. 233, § 1.