§ 31-33-8 - Assigned risk plans.
SECTION 31-33-8
§ 31-33-8 Assigned risk plans. – (a) After consultation with the insurance companies authorized to issueautomobile liability andoor physical damage policies in this state, theinsurance commissioner shall approve a reasonable plan or plans, fair to theinsurers and equitable to their policyholders, for the apportionment among thecompanies of applicants for motor vehicle liability andoor physical damageinsurance who are in good faith entitled to but are unable to procure insurancethrough ordinary methods. The insurance commissioner shall require that allinsurance companies participating in any plan or plans file an annual reportwith the insurance commissioner on business written in the plan or plans thatindicates each company's total premiums and total losses in business written inthe plan or plans. Any insurance company may designate a statistical agent tofile the annual report on its behalf.
(b) The plan or plans shall provide coverage for liabilityimposed by law for damages arising out of the ownership, maintenance, or use ofthe vehicle or vehicles within the United States or the Dominion of Canada, upto a limit of two hundred fifty thousand dollars ($250,000) because of bodilyinjury to or death of one person in any one accident and, up to a limit of fivehundred thousand dollars ($500,000) because of bodily injury to or death of two(2) or more persons in any one accident.
(c) When any plan or plans have been approved, all theinsurance companies shall subscribe to it or them and participate with respectto those types of insurance which they write in the state. Licensednon-resident insurance brokersagents shall be allowed to submit applications tothe plan or plans, provided that the state in which they hold a residentbrokers license allows Rhode Island resident brokersagents access to theirrespective plan or plans, or similar residual market mechanism.
(d) Any applicant for insurance, any person insured under theplan, and any insurance company affected, may appeal to the insurancecommissioner from any ruling or decision of a manager or committee designatedto operate the plan or plans. Any order or act of the insurance commissionerunder the provisions of this section shall be subject to review on petitionfiled by an aggrieved party in the superior court for the counties ofProvidence and Bristol within ten (10) days after notice of it is given. Thecourt shall determine whether the filing of the petition shall operate as astay of any order or act of the insurance commissioner, and the court shallsummarily hear the matter. The court may, in disposing of the issue before it,modify, affirm, or reverse the order or act of the insurance commissioner inwhole or in part.