Posted on Sep 23, 2015 in
Insurance Regulation |
Comments Off on Rhode Island Department of Insurance Issues Bulletin Prohibiting Price Optimization
Rhode Island Superintendent of Insurance Joseph Torti III recently issued a bulletin advising Rhode Island personal line insurers that Rhode Island law prohibits the use of certain price optimization techniques in determining property/casualty rates. Under Rhode Island law, applicants for insurance with identical risk classification profiles must be charged the same premium. Any...