230 R.I. Code R. 230-RICR-20-05-11.16

Current through December 3, 2024

Section 230-RICR-20-05-11.16 - Administration

A. This Program shall be administered by a Governing Committee (hereinafter referred to as the Committee), subject to the supervision of the Commissioner.

B. The Governing Committee shall consist of eighteen (18) members. Ten members of the Committee shall be Insurers, at least two (2) of which shall be domestic Insurers. These members shall be elected annually by cumulative voting of the Insurers of the Association whose votes shall be weighed in accordance with the proportion that each Insurer's Premiums Written in the state during the most recent calendar year for which data is available bears to the aggregate premiums written by all Insurers in this Program. Not more than one (1) Insurer in a group under the same management or ownership shall serve on the Committee at the same time. Six (6) members of the Governing Committee shall be individuals who are not employed by or otherwise affiliated with Insurers, Producers or other entities of the insurance industry. These members shall be appointed annually by the Chair of the Committee. The Committee shall also include two (2) members who shall be licensed resident fire and casualty Producers in the State of Rhode Island. Both of the aforementioned licensed fire and casualty Producers shall be appointed by the Independent Insurance Agents of Rhode Island.