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Current as of January 01, 2024 | Updated by Findlaw Staff
Any advisory organization, in addition to other activities not prohibited, is authorized, on behalf of its members and subscribers, to:
(1) Develop statistical plans including territorial and class definitions;
(2) Collect statistical data from members, subscribers, or any other source;
(3) Prepare and distribute prospective loss costs which may include provisions for special assessments;
(4) Prepare and distribute factors, calculations, or formulas pertaining to classification, territory, increased limits, and other variables;
(5) Prepare and distribute manuals of rating rules and rating schedules that do not include final rates, expense provisions, profit provisions, or minimum premiums;
(6) Distribute information that is required or directed to be filed with the director;
(7) Conduct research and collect statistics in order to discover, identify, and classify information relating to causes or prevention of losses;
(8) Conduct research and collect information to determine the impact of statutory changes upon prospective loss costs and special assessments;
(9) Prepare policy forms and endorsements and consult with members, subscribers, and others relative to their use and application;
(10) Conduct research and on-site inspections for the purpose of providing risk information relating to individual structures;
(11) Conduct on-site inspections to determine rating classifications for individual insured;
(12) Establish a committee that may include insurance company representatives to review the determination of the rating classification for individual insured and suggest modifications to the classification system;
(13) Collect, compile, and distribute past and current prices of individual insurers and publish that information;
(14) Collect and compile exposure and loss experience for the purpose of individual risk experience ratings; and
(15) Furnish any other services, as approved by the director, related to those services enumerated in this section.
Cite this article: FindLaw.com - Rhode Island General Laws Title 27. Insurance § 27-9-8.1. Advisory organization--Permitted activity - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-27-insurance/ri-gen-laws-sect-27-9-8-1/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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