§ 27-6-8.2 - Premium reduction for fire code safety prevention. - Rhode Island Statutes

SECTION 27-6-8.2

   § 27-6-8.2  Premium reduction for fire codesafety prevention. – Every schedule of rates, rating plan, or rating system for commercial propertyinsurance filed with the commissioner shall provide for a reduction of, orcredit in premium for insureds that install and maintain fire prevention andsuppression equipment and/or other equipment that has been demonstrated tominimize or lessens an insured loss from fire including, but not limited to,sprinkler system, alarms, and any other equipment required or recommended bythe state of Rhode Island for fire safety and/or prevention. Insurers shallalso provide for a reduction of, or credit in premium for the use of buildingmaterials and/or building techniques that have been demonstrated to minimize orlessen an insured loss from fire. Any reduction of, or credit in premiumrequired by this section must be actuarially supported and informationsufficient to document such support must be included in the filing to thedepartment.