§ 27-29-2 - Definitions.
SECTION 27-29-2
§ 27-29-2 Definitions. – When used in this chapter:
(1) "Commissioner" means director of the department ofbusiness regulation;
(2) "Consultant" means an individual, partnership, orcorporation who, for a fee, holds himself or itself out to the public asengaged in the business of offering any advice, counsel, opinion, or servicewith respect to the benefits, advantages or disadvantages promised under anypolicy of insurance that could be issued in this state;
(3) "Insured" means the party named on a policy orcertificate as the individuals with legal rights to the benefits provided bythe policy;
(4) "Insurer" means any person, reciprocal exchange,interinsurer, Lloyds insurer, fraternal benefit society, and any other legalentity engaged in the business of insurance, including agents, brokers,insurance producers, adjusters and third party administrators. Notwithstandingany other provision of law, insurer shall also mean a nonprofit hospital and/ormedical service corporation, a nonprofit dental service corporation, anonprofit optometric service corporation, a nonprofit legal servicecorporation, a health maintenance organization as defined in the general laws,or any other entity providing a plan of health benefits. For the purposes ofthis act, the entities in this subdivision shall be deemed to be engaged in thebusiness of insurance and subject to this chapter;
(5) "License" means any license, certificate of authority,certificate of compliance, or other formal approval or authorization granted bythe department of business regulation, division of insurance;
(6) "Person" means any natural or artificial entity,including but not limited to, an individual, corporation, association,partnership, trust, or any other legal entity; and
(7) "Policy" or "certificate" means any contract ofinsurance, indemnity, medical, health, or hospital service, suretyship, orannuity issued, proposed for issuance, or intended for issuance by any insurer.