Rhode Island Code of Regulations
Title 230 - Department of Business Regulation
Chapter 20 - Insurance
Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance
Part 11 - Basic Property Insurance Inspection and Placement Program (230-RICR-20-05-11)
Section 230-RICR-20-05-11.6 - Limits of Coverage and Deductibles
Current through September 18, 2024
A. Limits of coverage shall be established in rules adopted by the Governing Committee subject to approval by the Commissioner.
B. Standard and percentage deductibles, percentage participation clauses, and other underwriting devices may be imposed by the Association on any commercial, or non-owner occupied residential risk to meet special problems of insurability. In addition, the Association may require large or special deductibles on a "consent to rate basis" subject to approval by the Commissioner.
C. The Association may impose deductibles on all other risks only if there has been excessive loss frequency and the applicant has failed to take reasonable steps to correct any situation which has given rise to past losses. The deductibles used by the Association will either be those approved by the Commissioner for use by all insurers or those specifically approved by the Commissioner for the Association. The Association may impose other deductibles with the approval of the Commissioner.
D. No applicant shall be eligible to obtain lead liability limits in excess of the amount of the applicant's general liability limits, subject to the further restriction that an applicant may not obtain lead liability coverage above the maximum limits established by the Governing Committee and approved by the Commissioner. Additionally, an applicant who does not produce valid and in force Prima Facie Evidence of Compliance issued pursuant to R.I. Gen. Laws § 42-128.1-9 may obtain less lead liability coverage than the amount of insurance offered by the Association, provided however that such an applicant shall not be entitled to an amount of insurance that is less than the minimum limits offered by the Association.
