§ 27-71-2 - Purpose – Legislative intent. - Rhode Island Statutes

SECTION 27-71-2

   § 27-71-2  Purpose – Legislativeintent. – (a) The purpose of this chapter is to establish a framework for insurancemarket conduct actions, including:

   (1) Processes and systems for identifying, assessing andprioritizing market conduct problems that have an adverse impact on consumers,policyholders and claimants;

   (2) Market conduct actions by a commissioner to substantiatesuch market conduct problems and a means to remedy market conduct problems; and

   (3) Procedures to communicate and coordinate market conductactions among states to foster the most efficient and effective use ofresources.

   (b) This chapter does not apply to entities regulated by theoffice of health insurance commissioner under chapter 42-14.5 ("The RhodeIsland Healthcare Reform Act of 2004 – Health Insurance Oversight") or anyinsurer licensed only in the state of Rhode Island.