Insurance Premium Finance Agreements

What this document is

R.I. Gen. Laws Title 19, Chapter 14.6: Insurance Premium Finance Agreements is a state statute published by webserver.rilegislature.gov. It is one of the Rhode Island documents that insurance license exam questions are written from, including rhode island property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• R.I. Gen. Laws § 19-14.6-4(b) (Cancellation of insurance contract upon default)

  “Not less than ten (10) days written notice shall be mailed to the insured, at his or her last known address, as shown on the records of the company, of the intention of the company, to cancel the insurance contract or contracts unless the default is removed within the ten-day (10) period.”

• R.I. Gen. Laws § 19-14.6-3(d) (Delinquency and cancellation charges)

  “None of the charges referred to in this section shall be considered directly or indirectly in determining whether a violation of the usury laws has occurred under an agreement.”

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