The purpose of this chapter is to: (1) Promote the public welfare by regulating lender-placed insurance on real property. (2) Create a legal framework within which lender-placed insurance on real property may be written in this state. (3) Help maintain the separation between lenders/servicers and insurers/insurance producers. (4) Minimize the possibilities of unfair competitive practices in the sale, placement, solicitation, and negotiation of lender-placed insurance.
‹ Prev All Rhode Island sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.