Rhode Island General Laws Title 27. Insurance § 27-9.4-3. Definitions

(1) “Insurance binder” means a written temporary contract of insurance authorized by an insurer issued prior to the insurance policy that includes:

(2) “Insurance policy” means a contract of insurance describing the term, coverage, premiums, and deductibles.

(3) “Insured” means the person, group, or property for which an insurance policy is issued.

(4) “Insurer” means any organization that issues property or casualty insurance.

(5) “Lender” means an individual, partnership, corporation, association, or other entity, or loan servicer acting on behalf of such party, who lends money and receives or otherwise acquires a mortgage, a lien, a deed of trust, or any other security interest in or on any real or personal property as security for the loan.