§ 27-19-5.3 - Additional powers. - Rhode Island Statutes

SECTION 27-19-5.3

   § 27-19-5.3  Additional powers. – Notwithstanding any other law or section of this chapter which may beinconsistent with this section, each nonprofit hospital service corporationmay, through a subsidiary, develop, underwrite and/or offer for sale lifeinsurance, disability insurance, long-term care insurance, employee assistanceprograms and/or other health related programs; provided, however, prior tounderwriting risk under policies of insurance listed above, the nonprofithospital service corporation must first demonstrate that underwriting such riskis consistent with the statutory mission of the nonprofit hospital servicecorporation and obtain prior written approval from the health insurancecommissioner. Each nonprofit hospital service corporation may also directly, orby contracting with another entity, develop and/or offer for sale the policiesor programs described in this section. However, the nonprofit hospital servicecorporation shall not directly underwrite any risk under a policy of insurancedescribed in this section.