§ 27-56-1 - Report. - Rhode Island Statutes

SECTION 27-56-1

   § 27-56-1  Report. – (a) Every insurer domiciled in this state shall file a report with thecommissioner disclosing material acquisitions and dispositions of assets ormaterial nonrenewals, cancellations or revisions of ceded reinsuranceagreements unless the acquisitions and dispositions of assets or materialnonrenewals, cancellations or revisions of ceded reinsurance agreements havebeen submitted to the commissioner for review, approval or information purposespursuant to other provisions of the insurance code, laws, regulations, or otherrequirements.

   (b) The report required in subsection (a) of this section isdue within fifteen (15) days after the end of the calendar month in which anyof the foregoing transactions occur.

   (c) One complete copy of the report, including any exhibitsor other attachments, shall be filed with:

   (1) The insurance department of the insurer's state ofdomicile; and

   (2) The National Association of Insurance Commissioners.

   (d) All reports obtained by or disclosed to the commissionerpursuant to this chapter shall be given confidential treatment and shall not besubject to subpoena and shall not be made public by the commissioner, theNational Association of Insurance Commissioners, or any other person, except toinsurance departments of other states, without the prior written consent of theinsurer to which it pertains unless the commissioner, after giving the insurerwho would be affected notice and an opportunity to be heard, determines thatthe interest of policyholders, shareholders or the public will be served bypublication, in which event the commissioner may publish all or any part in themanner the commissioner may deem appropriate.