§ 27-36-2 - Annual assessments of insurance companies.
SECTION 27-36-2
§ 27-36-2 Annual assessments of insurancecompanies. – (a) The director of the department of business regulation shall make an annualassessment against each insurance company, those corporations and otherentities subject to this title and chapter 62 of title 42, hereafter referredto as a "company", for payment of all reasonable expenditures incurred by theattorney general in representation at insurance rate hearings for mattersinvolving insurance regulation. The assessments shall be in amounts annuallydetermined and certified by the attorney general to the director of thedepartment of business regulation as sufficient reimbursement for the generalexpenditures of the attorney general to fulfill the attorney general'sobligations under this chapter. The general expenditures shall beproportionately assessed by the director of the department of businessregulation against each company. In addition, actual reasonable costs forexperts, such as but not limited to actuaries and economists, and otherspecific costs incurred by the attorney general related to insurance ratehearings, whether or not a public hearing has been held or the rate review hasproceeded through a final decision by the department of business regulation oroffice of the health insurance commissioner, shall be billed directly by theattorney general to the company that initiated the filing.
(b) The company billed for such specific costs shall makepayment to the attorney general by forwarding a check, payable to the serviceprovider, to the chief of the Insurance Advocacy Unit of the attorney general'soffice within sixty (60) days of the date invoiced. Assessments made pursuantto this section may be credited to the normal operating costs of each companyand shall be deposited as general revenue.