RI S2311

Clarifies that bad faith insurance claims are independent of breach of contract claims, meaning insureds can pursue bad faith remedies without first proving the insurer breached the policy

Creates a new private right of action allowing insureds or claimants to sue insurers in superior court for violations of unfair claims settlement practices, with potential recovery of actual damages, attorney fees, and enhanced damages up to 2x actual damages for knowing or reckless violations

Requires insurers to use only properly licensed individuals (home inspectors, adjusters, engineers, attorneys, contractors) for investigating, inspecting, or appraising homeowners or property damage claims in Rhode Island

Prohibits insurers from depreciating labor costs or failing to account for overhead, profit, and consequential damages when calculating actual cash value or replacement cost value payments

Expands the Unfair Claims Settlement Practices Act to cover policies providing coverage on Rhode Island properties (previously limited to policies issued to Rhode Island residents) and explicitly extends protections to claimants with valid assignments of rights