Rhode Island § 27-6-19 - Fire and Marine Insurance Rating

§ 27-6-19. Suspension of rates or filings after review period — Removal of discriminatory applications of rates.

If, at any time subsequent to the applicable review period provided for in § 27-6-17 or § 27-6-18, the commissioner finds that a rate or filing does not meet the requirements of this chapter, the commissioner shall, after a hearing held upon not less than ten (10) days’ written notice, specifying the matters to be considered at the hearing, to every insurer and rating organization that used the rate or made the filing, issue an order specifying in what respects the commissioner finds that the rate or filing fails to meet the requirements of this chapter, and stating when, within a reasonable period after this, the rate shall no longer be used or the filing shall be deemed no longer effective. This order shall not affect any contract or policy made or issued prior to the expiration of the period set forth in the order. If the commissioner finds that an unfair discrimination exists in the application of a rate or filing to an individual risk the commissioner may, after a hearing held on like notice to the insurer affected and to any rating organization that made the filing, issue an order that the unfair discrimination be removed. Copies of any order issued under this section shall be sent to every affected insurer and rating organization.