230 R.I. Code R. 230-RICR-20-60-1.5

Current through December 3, 2024

Section 230-RICR-20-60-1.5 - Limitation on Compensation

A. An insurer shall not pay compensation in excess of thirty percent (30%) of the net written prima facie premium of which not more than twenty-five percent (25%) of net written prima facie premium may be paid to a creditor.

B For the purpose of § 1.5(A) of this Part, prima facie premium means premium using the premium rates set out in §§ 1. 6 and 1.7 of this Part, or actuarially consistent premium rates for plans not described in §§ 1.6 and 1.7 of this Part, without any adjustment pursuant to § 1.10 of this Part.