The Rhode Island Division of Insurance (the “Division”) has scheduled a public hearing for March 2, 2010 to discuss the adoption of Proposed Regulation 114.

Proposed Regulation 114 provides guidance on the service of process procedures for licensed insurers, insurance licensees, surplus lines insurers and other insurance-related entities. The Division will accept service of process for licensed foreign insurers, reciprocal exchanges and interinsurers, fraternal benefit societies and nonresident reinsurance intermediaries. The Division will not accept service of process for domestic insurers, eligible surplus lines insurers, captive insurers, life settlement providers and brokers, and certain other entities. Proposed Regulation 114 would require eligible surplus lines insurers to appoint all their surplus lines brokers who write business in Rhode Island as an alternative agent for service of process.

The Division is accepting written comments in addition to oral comments at the public hearing. If you would like EAPD to assist you with preparing and submitting comments, please click the “Email the Editor” button and provide your contact information for follow-up by an EAPD attorney.

Click here for a copy of the public notice and Proposed Regulation 114.