Section 230-RICR-20-05-8.2 - PurposeA. The purpose of this Part is to: 1. Make automobile insurance available to eligible applicants who have been unable to secure such insurance in the voluntary market; 2. Establish the parameters under which insurers writing automobile insurance in Rhode Island will satisfy their obligation to provide for assigned risk policies; 3. Authorize the Plan to establish rates for insurance as authorized pursuant to R.I. Gen. Laws §§ 27-9-41 and 31-33-8; 4. Provide that amounts assessed by the Plan on Insurers may be included in the data used by those Insurers in the development of automobile insurance rates for voluntary business; and 5. Provide the Plan with the authority to issue policies on its own account as detailed in this Part and the Plan of Operation adopted by the Insurers.230 R.I. Code R. 230-RICR-20-05-8.2
Adopted effective 1/1/2019
Amended effective 2/3/2022