§ 27-34-10 - Duties and powers of the commissioner. - Rhode Island Statutes

SECTION 27-34-10

   § 27-34-10  Duties and powers of thecommissioner. – (a) The commissioner shall:

   (1) Notify the fund of the existence of an insolvent insurernot later than three (3) days after he or she receives notice of thedetermination of the insolvency. The fund shall be entitled to a copy of anycomplaint seeking an order of liquidation with a finding of insolvency againsta member insurer at the same time that the complaint is filed with a court ofcompetent jurisdiction;

   (2) Upon request of the board of directors, provide the fundwith a statement of the net direct written premiums of each member insurer; and

   (3) Notify the fund of all filings made under § 27-35-2except as prohibited under § 27-35-6. The commissioner shall providecopies of all of these filings to the fund upon request.

   (b) The commissioner may:

   (1) Require that the fund notify the insured of the insolventinsurer and any other interested parties of the determination of insolvency andof their rights under this chapter. The notification shall be by mail at theirlast known address, where available, but if sufficient information fornotification by mail is not available, notice by publication in a newspaper ofgeneral circulation shall be sufficient;

   (2) Suspend or revoke, after notice and hearing, thecertificate of authority to transact insurance in this state of any memberinsurer which fails to pay an assessment when due or fails to comply with theplan of operation; and

   (3) Revoke the designation of any servicing facility if he orshe finds claims are being handled unsatisfactorily.

   (c) Any final action or order of the commissioner under thischapter shall be subject to judicial review in a court of competentjurisdiction.