§ 27-8-1 - Types of insurance authorized for domestic fire and marine insurance companies. - Rhode Island Statutes

SECTION 27-8-1

   § 27-8-1  Types of insurance authorized fordomestic fire and marine insurance companies. – Every insurance company incorporated by or under the laws of this state, andnow or after this authorized to transact the business of fire or marineinsurance, or both, may, in addition to the business that it is now authorizedby the provisions of its act of incorporation to do, make insurance:

   (1) On dwelling houses, stores, and all kinds of buildings,and on household furniture and other property, against direct and indirect lossor damage including loss of use or occupancy by fire, heat, smoke and smudge,lightning, windstorm, tornado, cyclone, earthquake, volcanic eruption, hail,frost or snow, weather or climatic conditions including an excess or deficiencyof moisture, flood, rain, or drought, the rising of the waters of the ocean orits tributaries, bombardment, invasion, insurrection, riot, civil war orcommotion, military or usurped power, vandalism, malicious mischief, sabotage,sit down and other strikes, acts of destruction by order of any military orcivil authority done to prevent the spread of a conflagration, epidemic orcatastrophe, or short circuits of electrical current or static electricity orany other electrical disturbance, and by explosion, whether fire ensues or not,except risks pertaining to employer's liability and worker's compensation; alsoagainst the legal liability of the insured, and against the loss, damage, orexpense, incident to a claim of that liability, arising out of the loss ordestruction of, or damage to, the property of any other person; also againstloss or damage caused by burglary, robbery, theft, pillage, looting, larceny,or any attempt at this, whether caused or arising at the time of or inconnection with fire, windstorm, or any other casualty insured against orotherwise;

   (2) Against loss or damage, by water or other fluid orsubstance, to goods or premises of any kind arising from the breakage orleakage of sprinklers, pumps, or other apparatus erected for extinguishingfires, or of other conduits or containers, or by water entering through leaksor openings in buildings, and from the breakage or leakage of water pipes, andagainst accidental injury to sprinklers, pumps, apparatus, conduits,containers, or water pipes, and against the legal liability of the insured, andagainst the loss, damage, or expense, incident to a claim of that liability,arising out of the loss or destruction of, or damage to, the property of anyother person;

   (3) On vessels, boats, craft, aircraft, cars, automobiles andvehicles of every kind, cargoes, goods, merchandise, freights, and otherproperty against loss or damage by all or any of the risks of lake, river,canal, and inland navigation and transportation and all goods, freights,cargoes, merchandise, effects, disbursements, profits, moneys, bullion,precious stones, securities, chose in action, evidences of debt, valuablepapers, bottomry and respondentia interests, and all other kinds of propertyand interests in them, in respect to, appertaining to, or in connection withany and all risks or perils of navigation, transit, or transportation includingwar risks, on or under any seas or other waters, on land or in the air, orwhile being assembled, packed, crated, baled, compressed, or similarly preparedfor shipment or while awaiting shipment, or during any delays, storage,transshipment, or reshipment, including marine builder's risks and all personalproperty floater risks;

   (4) On persons or to property in connection with orappertaining to a marine, inland marine, transit, or transportation insurance,including the liability for the loss of or damage to either, arising out of orin connection with the construction, repair, operation, maintenance, or use ofthe subject matter of that insurance, but not including life insurance; but,except as specified in this section, this shall not mean insurances againstloss by reason of bodily injury to the person;

   (5) On precious stones, jewels, jewelry, gold, silver, andother precious metals, whether used in business or trade or otherwise andwhether those stones and metals are in the course of transportation orotherwise;

   (6) On automobiles and other vehicles whether operated onrails or otherwise, airplanes, seaplanes, dirigibles, or other aircraft, andelevators and other conveyors, and the breakage of glass in them, whetherstationary or being operated under their own power, which shall include all orany part of the hazards of fire, explosion, transportation, collision, and theloss by legal liability for damage to property resulting from the maintenanceand use of automobiles and other vehicles, airplanes, seaplanes, dirigibles,and other aircraft, and elevators and other conveyors;

   (7) On or against loss or damage to property resulting fromthe maintenance and use of automobiles and other vehicles whether operated onrails or otherwise, vessels, elevators and other conveyors, and aircraft, andon or against loss by burglary, larceny or theft, vandalism, or maliciousmischief, or by the wrongful conversion, disposal, or concealment ofautomobiles, and other vehicles, whether held under conditional sales contractsor subject to chattel mortgages, or any one or more of those hazards, but shallnot include insurance against loss by reason of bodily injury to the person; and

   (8) Against loss of or damage to any property resulting fromany cause which is a proper subject of insurance; provided, that before anycompany shall assume risks other than those enumerated in this section it shallfirst obtain the approval of the insurance commissioner; and

   (9) [Deleted by P.L. 2004, ch. 54, § 2, and by P.L.2004, ch. 59, § 2.]