Program Operations

The Insurance Division is responsible for conducting financial examinations of domestic insurance companies to ensure financial solvency and market conduct examinations of domestic or foreign insurance companies to ensure compliance with the insurance statutes and regulations. The program performs several licensing functions including, but not limited to, the licensing of companies, producers, adjusters and appraisers. The program also reviews rate and form filings for the Life, Accident and Health, and Property and Casualty lines of business for compliance with state statutes and regulations, and addresses consumer complaints for these lines of business. The program monitors and introduces legislation in order to maintain accreditation by the National Association of Insurance Commissioners, which it initially received in June of 1993. The division was re-accredited in December 1998, December 2003, June 2009, June 2014, and in March 2020, each time receiving the maximum accreditation period of five years.



The Rhode Island Insurance Division is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), insurance regulators establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace. U.S. insurance regulators also participate in the International Association of Insurance Supervisors (IAIS) along with the NAIC by participating in major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices.

Program Objectives

  • To monitor effectively the financial condition and market conduct activities of insurance companies licensed to do business in the State of Rhode Island.
  • To monitor activities of all licensees such as producers, adjusters and appraisers.
  • To ensure consumer access to an equitable insurance market and respond to consumer inquiries and complaints.
  • To maintain accreditation by the National Association of Insurance Commissioners.

Statutory History

All chapters of R.I. General Laws §§27-1, 42-14 and 28-29 through 28-38 and all Insurance Division regulations.