R.I. Gen. Laws tit. 27, ch. 5 – Fire Insurance Policies and Reserves | Midpage

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Rhode Island General Laws

Chapter 27-5

R.I. Gen. Laws tit. 27, ch. 5

Fire Insurance Policies and Reserves

27-5-1Standard fire insurance policy 27-5-2Compliance with standard policy required 27-5-3Form of standard policy 27-5-3.1Exclusion — Nuclear damage 27-5-3.2Property insurance 27-5-3.3Resident agent — Banks 27-5-3.4Cancellation or nonrenewal of standard fire insurance policy 27-5-3.5Earthquake coverage endorsement for property insurance 27-5-3.6Notice concerning flood insurance 27-5-3.8Rhode Island commission on hurricane loss projection methodology 27-5-3.9Vacant property 27-5-4Items shown at head of policy 27-5-5Inclusion of regulations of mutual insurer 27-5-6Binders and temporary insurance 27-5-6.1Notice concerning single interest hazard insurance 27-5-6.2Escrow accounts for insurance premiums 27-5-7Combination standard form 27-5-8Supplemental contract forms 27-5-9Standard form not required for reinsurance 27-5-9.1Simplified comprehensive policies of insurance 27-5-10Penalty for nonconforming policy — Validity 27-5-11Enforcement of standard policy requirements 27-5-12Declination of premium notes by mutual companies — Provision as to liability 27-5-13Mutual membership not acquired by reinsurance 27-5-14Reinsurance by mutual insurers — Agreements with policyholders 27-5-15Power to create guaranty surplus and special reserve funds 27-5-16Resolution to establish surplus and reserve funds — Certification of funds 27-5-17Restrictions on dividends — Payments into surplus and reserve funds 27-5-18Computation of profits 27-5-19Certification that funds equal capital stock — Subsequent additions 27-5-20Investment of guaranty surplus fund — Liability to payment of losses 27-5-21Deposit of special reserve fund 27-5-22Application of special reserve fund to protection of policyholders 27-5-23Annual statement of amounts of funds 27-5-24Maintenance of surplus fund equal to reserve fund 27-5-25Use of special reserve fund to replace capital stock 27-5-26Physical assets for protection of policyholders 27-5-27Making up of impairments of capital 27-5-28Maximum single risk insured 27-5-29Statement on policy as to surplus and reserve funds 27-5-30Funds established under prior law 27-5-31Termination of surplus and reserve fund method — Return of special reserve fund