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RI H7723
Bill
Status
2/12/2026
Primary Sponsor
Robert Craven
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AI Summary
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Prohibits "wasting policies" in liability insurance by requiring the full policy limit to remain available for paying claims related to property damage or personal injuries
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Bars insurers from using any portion of the policy limit to pay legal fees or costs to defend against a claim
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Applies to all liability and indemnification policies except workers' compensation insurance (chapters 29-38 of title 28)
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Adds new section 27-7-1.1 to Rhode Island's Liability Insurance chapter (Chapter 27-7 of the General Laws)
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Takes effect immediately upon passage
Legislative Description
Requires that insurance policies for property damage, personal injuries, and indemnification other than payment of compensation for workers compensation, state policy limits and no amount of the policy may be used to pay costs to defend a claim.
Insurance
Last Action
Introduced, referred to House Corporations
2/12/2026