Terms Used In Rhode Island General Laws > Chapter 27-44 - Casualty, Liability and Fire and Marine Insurance Rating

• Advisory organization: means any person or organization other than a rating organization that assists insurers in the authorized activities enumerated in § 27-44-11, except no advisory organization may make any filings on behalf of insurers. See Rhode Island General Laws 27-44-2
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Competitive market: means a market that has not been found to be noncompetitive pursuant to § 27-44-4. See Rhode Island General Laws 27-44-2
• Director: means the director of department of business regulation. See Rhode Island General Laws 27-44-2
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Market: means the interaction between buyers and sellers consisting of a product market component. See Rhode Island General Laws 27-44-2
• Noncompetitive market: means a market for which there is a ruling in effect pursuant to § 27-44-4 that a reasonable degree of competition does not exist. See Rhode Island General Laws 27-44-2
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Pool: means a voluntary arrangement, established on an on-going basis, pursuant to which two (2) or more insurers participate in the sharing of risks on a predetermined basis. See Rhode Island General Laws 27-44-2
• Rating organization: means any entity that either has two (2) or more member insurers or is controlled either directly or indirectly by two (2) or more insurers and that assists insurers in ratemaking. See Rhode Island General Laws 27-44-2
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Statute: A law passed by a legislature.
• Supplementary rate information: includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, and any other similar information needed to determine the applicable rate in effect or to be in effect. See Rhode Island General Laws 27-44-2
• Supporting information: means : (i) The experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer; (ii) The interpretation of any statistical data relied upon by the filer; and (iii) Description of methods used in making the rates, and other similar information required by the director to be filed. See Rhode Island General Laws 27-44-2