Section 230-RICR-20-60-9.4 - DefinitionsA. As used in this Part 1. "Advisory organization" means an organization as defined by R.I. Gen. Laws §§ 27-6-33, 27-9-30 and 27-44-9.2. "Captive insurer" means an insurer licensed pursuant to R.I. Gen. Laws § 27-43-3.3. "Domestic insurance company" means an insurance company domiciled in Rhode Island and licensed pursuant to R.I. Gen. Laws Chapter 27-1.4. "FAIR plan" means the Fair Access to Insurance Requirements organization established pursuant to R.I. Gen. Laws § 27-33-2.5. "Foreign insurance company" means an insurance company domiciled in another state or jurisdiction and licensed in the State of Rhode Island pursuant to R.I. Gen. Laws Chapter 27-2.6. "Fraternal benefit society" means an incorporated society licensed pursuant to R.I. Gen. Laws § 27-25-27.7. "Insurance Commissioner" means the Director of the Department of Business Regulation or his or her designee.8. "Insurance Division" means the Division of the Department of Business Regulation that regulates insurance.9. "Life settlements provider and broker" means a person who is licensed to enter into life settlement contracts pursuant to R.I. Gen. Laws § 27-71-3(provider) or licensed to negotiate life settlement contracts pursuant to R.I. Gen. Laws § 27-71-3(broker).10. "MMJUA" means the Medical Malpractice Joint Underwriting Association established under R.I. Gen. Laws Chapter 42-14.1.11. "Rating organization" means a person or entity licensed pursuant to R.I. Gen. Laws §§ 27-6-23, 27-9-22 and 27-44-8.12. "Reciprocal exchange or interinsurer" means an exchange or interinsurer licensed pursuant to R.I. Gen. Laws § 27-17-6.13. "Surplus lines insurance companies" means all insurers included on the approved surplus lines list maintained by the Division of Insurance in accordance with R.I. Gen. Laws § 27-3-38.14. "Unlicensed insurer" means any person or entity insuring risks within the State of Rhode Island pursuant to R.I. Gen. Laws § 27-16-1.2.230 R.I. Code R. 230-RICR-20-60-9.4
Amended effective 9/7/2019