The rates and premiums charged for insurance policies to which this section applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.
R.I. Gen. Laws § 27-34-15
Recoupment of assessments
Known as the Rhode Island Property & Casualty Insurance Guaranty Association Act
The act spans §§ 27–27 (30 sections).
Applied in 1 court decision — leading case 811 F. Supp. 54 - Metropolitan Property & Casualty Insurance v. Rhode Island Insurer's Insolvency Fund (1993)
Most recently applied in 811 F. Supp. 54 - Metropolitan Property & Casualty Insurance v. Rhode Island Insurer's Insolvency Fund (February 1993)
P.L. 1988, ch. 407, § 2; P.L. 2010, ch. 91, § 1; P.L. 2010, ch. 117, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.