Rhode Island Bill S 2771 Requires Insurance Companies to Settle Claims Within 30 Days

Original title: AN ACT RELATING TO INSURANCE -- DOMESTIC INSURANCE COMPANIES (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.)

Last action · March 31, 2026: Committee recommended measure be held for further studySponsors: Ryan Pearson and 7 others

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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What This Bill Proposed

Insurance companies must settle claims or request additional information within 30 days of receiving a , with a penalty of $250 per day payable to the insured party for non-compliance.

Why it matters

Policyholders gain a specific statutory timeframe and daily financial compensation when insurers delay processing insurance claims.

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

Insured parties

Policyholders receive a mandatory 30-day response window from insurers and are entitled to $250 per day if the insurer fails to comply.

Directly affected

Insurance companies

Domestic insurance companies must settle claims or request additional information within 30 days or face daily financial penalties.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

How long do insurance companies have to respond to a notice of claim under this bill?

Insurance companies must settle the claim or request additional information within 30 days of receipt.

What is the penalty if an insurance company fails to meet the 30-day deadline?

The company must pay $250 per day to the insured party.

What else do you want to know?

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Where This Stands

This bill did not become law - Died at adjournment · in Senate committee.

Procedural history

3 actions

Mar 31, 2026
Committee recommended measure be held for further study
Mar 27, 2026
Scheduled for hearing and/or consideration (03/31/2026)
Mar 4, 2026Introduced
Introduced, referred to Senate Commerce

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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