S2771 — Requires insurance companies to settle claims or request additional information within 30 days of receipt of a notice of claim. Failure to comply results in $250/day payable to the insured party.

S2771 — Requires insurance companies to settle claims or request additional information within 30 days of receipt of a notice of claim. Failure to comply results in $250/day payable to the insured party. · Informed CitizenryThis bill modifies Rhode Island's insurance laws, primarily concerning domestic insurance companies. Its core function is to establish a strict timeline for how quickly insurers must respond once t…Open in Informed Citizenry