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Home » US Law » 2022 Rhode Island General Laws » Title 27 - Insurance » Chapter 27-8.2 - Stop-Loss Insurance

Section 27-8.2-1. – Purpose and intent.

§ 27-8.2-1. Purpose and intent. This chapter shall be known as the “Stop-Loss Insurance Act.” The purpose of this chapter is to establish criteria for the issuance of stop-loss insurance policies. Nothing in this chapter shall be construed as imposing any requirement or duty on any person other than an insurer, or as treating any […]

Section 27-8.2-2. – Definitions.

§ 27-8.2-2. Definitions. (a) “Actuarial certification” means a written statement by a member of the American Academy of Actuaries, or other individual acceptable to the commissioner, that an insurer is in compliance with the provisions of this chapter. The written statement shall be based upon the individual’s examination, and include a review of the appropriate […]

Section 27-8.2-3. – Stop-loss insurance coverage standards.

§ 27-8.2-3. Stop-loss insurance coverage standards. (a) An insurer shall not issue a stop-loss insurance policy that: (1) Has an annual attachment point for claims incurred per individual that is lower than twenty thousand dollars ($20,000); (2) Has an annual aggregate attachment point that is lower than one hundred twenty percent (120%) of expected claim; […]

Section 27-8.2-4. – Actuarial certification.

§ 27-8.2-4. Actuarial certification. An insurer shall file with the commissioner annually on or before March 15, an actuarial certification certifying that the insurer is in compliance with this chapter. The certification shall be in a form and manner, and shall contain information, specified by the commissioner. A copy of the certification shall be retained […]

Section 27-8.2-5. – Effective date.

§ 27-8.2-5. Effective date. This chapter shall become effective with respect to stop-loss insurance policies issued or renewed on or after January 1, 2014. History of Section.P.L. 2013, ch. 86, § 1; P.L. 2013, ch. 92, § 1.