Rhode Island Code of Regulations
Title 230 - Department of Business Regulation
Chapter 20 - Insurance
Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance
Part 15 - Use of Credit - Extraordinary Life Events (230-RICR-20-05-15)
Section 230-RICR-20-05-15.4 - Definitions

1. "Consumer" means either an applicant for insurance or an existing insured.

2. "Department" means the Insurance Division of the Department of Business Regulation.

3. "Extraordinary Life Event" means an event identified in § 15.6 of this Part that directly influences a consumer's credit history.

4. "Homeowners Insurance" means any personal lines insurance policy providing coverage to a domicile.

5. "Insurance Score" means a number, rating or any categorization that is derived from an algorithm, computer application, model or other process that is based in whole or in part on credit history for the purposes of predicting the future insurance loss experience of an individual applicant or insured.

6. "Private Passenger Automobile" means any vehicle insured by a personal automobile insurance policy.

7. "Renewal" or "to renew" means the issuance and delivery by an insurer of a policy superseding at the end of the policy period a policy previously issued and delivered by the same insurer, or the issuance and delivery of a certificate or notice extending the term of a policy beyond its policy period or term; provided, however, that any policy with a policy period or term of less than twelve (12) months shall for the purpose of this section be considered as if written for a policy period or term of twelve (12) months. Provided, further, that for purposes of this Part any policy written for a term longer than one (1) year or any policy with no fixed expiration date shall be considered as if written for successive policy periods or terms of one (1) year and any termination by an insurer effective on an anniversary date of such policy shall be deemed a failure to renew.