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SB 1047

AN ACT RELATING TO INSURANCE -- INVESTMENTS BY DOMESTIC INSURANCE COMPANIES

2025 Regular Session Introduced by Andrew Dimitri and 2 co-sponsors

SB 1047 adjusts Rhode Island domestic insurance companies' investment restrictions, affecting insurer capital deployment and potential portfolio risk exposure.

06/18/2025 Signed by Governor
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WeVote Research Nonpartisan
Bill Summary · SB 1047

Legislative bill overview

SB 1047 modifies Rhode Island's regulations governing how domestic insurance companies can invest their assets. The bill adjusts investment restrictions and allowances for insurance firms operating in the state, affecting where and how insurers can deploy capital. It has been signed into law as of June 18, 2025.

Why is this important

Insurance companies' investment portfolios directly impact their financial stability and ability to pay claims to policyholders. Investment rules also influence which industries and sectors receive capital funding through insurance company investments. Changes to these regulations can affect both insurer solvency and broader economic development in Rhode Island.

Potential points of contention

  • Regulatory balance: Loosening investment restrictions could increase insurer returns but may also increase portfolio risk exposure, potentially affecting policyholder security
  • Capital allocation: Modified rules may redirect insurance company investments away from or toward specific sectors (real estate, securities, local businesses), affecting economic development priorities
  • Transparency concerns: The bill's passage through the consent calendar (expedited process requiring minimal debate) suggests limited public scrutiny of what specific investment changes were made

Compiled from official sources — confirm details with the bill’s official record.

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