New law in Rhode Island aims to protect consumers and insurers from hurricanes

Hurricane Irene

Legislators pass new law ahead of hurricane season New legislation has been signed into law in Rhode Island by Governor Lincoln Chafee and will provide homeowners with additional protection from hurricanes. Last year, homes throughout the state suffered damages caused by Hurricane Irene. The state was able to recover from the natural disaster, but legislators took note of what they considered to be problems in Rhode Island’s insurance system. The legislation aims to solve these problems and improve the state’s defenses against future hurricanes. Homeowners to be protected against consecutive…

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State Auto Insurance Company reduces Massachusetts and eliminates Rhode Island coverage

State Auto Insurance Company, an Ohio-based insurer, has announced that it will be writing a reduced number of specific lines of business in Massachusetts, and in Rhode Island, it will no longer be writing coverage at all. In Massachusetts, State Auto will continue writing its farm and business insurance, but no new lines of any kind will be renewed within Rhode Island. That said, the insurance company has come to an agreement over renewal rights with Narragansett Bay Insurance Company (NBIC), so that the latter will adopt the homeowners insurance…

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