Section 27-71-1. – Short title.

§ 27-71-1. Short title. This chapter shall be known and may be cited as the “Market Conduct Surveillance Act”. History of Section.P.L. 2008, ch. 72, § 1; P.L. 2008, ch. 233, § 1.

Section 27-71-10. – Immunity for market conduct surveillance personnel.

§ 27-71-10. Immunity for market conduct surveillance personnel. (a) No cause of action shall arise nor shall any liability be imposed against the commissioner, the commissioner’s authorized representatives or an examiner appointed by the commissioner for any statements made or conduct performed in good faith while carrying out the provisions of this chapter. (b) No […]

Section 27-71-11. – Fines and penalties.

§ 27-71-11. Fines and penalties. (a) Fines and penalties levied pursuant to this chapter or other provisions of the general laws shall be consistent, reasonable and justified. (b) The commissioner shall take into consideration actions taken by insurers that maintain membership in best-practice organizations that exist to promote high ethical standards of conduct in the […]

Section 27-71-12. – Data collection and participation in national market conduct databases.

§ 27-71-12. Data collection and participation in national market conduct databases. The commissioner shall collect and report market data to the NAIC’s market information systems, including the complaint database system, the examination tracking system, and the regulatory information retrieval system, or other comparable successor NAIC products as determined by the commissioner. In addition to complaint […]

Section 27-71-13. – Coordination with other states through the NAIC.

§ 27-71-13. Coordination with other states through the NAIC. The commissioner shall share information and coordinate the department of business regulation’s market analysis and examination efforts with other states through the NAIC. History of Section.P.L. 2008, ch. 72, § 1; P.L. 2008, ch. 233, § 1.

Section 27-71-14. – Additional duties of the commissioner.

§ 27-71-14. Additional duties of the commissioner. (a) At least once per year, or more frequently if deemed necessary, the commissioner shall make available in an appropriate manner to insurers and other entities subject to the scope of this chapter information on new laws and regulations, and other information the commissioner deems pertinent to ensure […]

Section 27-71-15. – Cost of market analysis and examination.

§ 27-71-15. Cost of market analysis and examination. (a) The total cost of market analysis and examinations performed pursuant to this chapter shall be borne by the companies analyzed and/or examined, including the total cost of all persons contracted by the commissioner pursuant to this chapter to supplement in-house staff, in accordance with the provisions […]

Section 27-71-2. – Purpose — Legislative intent.

§ 27-71-2. Purpose — Legislative intent. (a) The purpose of this chapter is to establish a framework for insurance market conduct actions, including: (1) Processes and systems for identifying, assessing and prioritizing market conduct problems that have an adverse impact on consumers, policyholders and claimants; (2) Market conduct actions by a commissioner to substantiate such […]

Section 27-71-3. – Definitions.

§ 27-71-3. Definitions. (a) “Commissioner” means the “director of the department of business regulation” or his or her designee. (b) “Complaint” means a written or documented oral communication to the commissioner primarily expressing a grievance, meaning an expression of dissatisfaction. For healthcare companies, a grievance is a written complaint submitted by or on behalf of […]

Section 27-71-4. – Domestic responsibility and deference to other states.

§ 27-71-4. Domestic responsibility and deference to other states. (a) The commissioner is authorized to conduct market conduct examinations as deemed necessary by the commissioner for Rhode Island policyholder protection, which shall be accomplished by comprehensive or targeted examinations of domestic insurers and targeted examinations of foreign insurers, based on the results of market analysis. […]

Section 27-71-5. – Market analysis procedures.

§ 27-71-5. Market analysis procedures. (a)(1) The commissioner shall gather information as deemed necessary from data currently available, as well as surveys and required reporting requirements, information collected by the NAIC and a variety of other objective sources in both the public and private sectors including law enforcement inquires. (2) Such information, when collected, shall […]

Section 27-71-6. – Protocols for market conduct actions.

§ 27-71-6. Protocols for market conduct actions. (a) Market conduct actions taken as a result of a market analysis shall focus on the general business practices and compliance activities of insurers, rather than identifying infrequent or unintentional random errors that do not cause consumer harm. (b)(1) The commissioner is authorized to determine the frequency and […]

Section 27-71-7. – Protocols for targeted market conduct examinations.

§ 27-71-7. Protocols for targeted market conduct examinations. (a) When the commissioner identifies through market analysis a pattern of conduct or practice by an insurer which requires further investigation, and less intrusive market conduct actions identified in subsection 27-71-5(b) are not appropriate, the commissioner has the discretion to conduct targeted, market conduct examinations in accordance […]

Section 27-71-8. – Confidentiality requirements.

§ 27-71-8. Confidentiality requirements. (a) Except as otherwise provided by law, market conduct surveillance personnel shall have free and full access to all books and records, employees, officers and directors, as practicable, of the insurer during regular business hours. An insurer utilizing a third-party model or product for any of the activities under examination shall […]

Section 27-71-9. – Market conduct surveillance personnel.

§ 27-71-9. Market conduct surveillance personnel. (a) Market conduct surveillance personnel shall be qualified by education, experience and, where applicable, professional designations. The commissioner may supplement the in-house market conduct surveillance staff with qualified outside professional assistance if he or she determines that such assistance is necessary. (b) Market conduct surveillance personnel have a conflict […]