The bill seeks to amend and reenact various sections of the General Laws of Rhode Island, primarily focusing on enhancing information security protocols for domestic insurance companies and establishing a regulatory framework for insurance products. A new section, 27-1-46. Information security program., mandates that domestic insurers develop a comprehensive information security program tailored to their size and the sensitivity of the information they handle. The bill outlines requirements for risk assessment, management, and oversight by executive management, including annual reporting on compliance and cybersecurity events. Additionally, it introduces a new section, 27-1-47, requiring insurers to notify the commissioner of any significant cybersecurity events within three business days, ensuring timely communication and response to potential threats. Furthermore, the bill establishes the "Interstate Insurance Product Regulation Commission," allowing Rhode Island to collaborate with other states in regulating insurance products, enhancing consumer protection, and streamlining the approval process. It includes amendments to existing laws regarding the licensing of vendors selling portable electronics insurance, updates to health insurance definitions, and provisions for the management of the Rhode Island organ transplant fund. The bill also addresses penalties for driving under the influence, enhancing public safety measures, and introduces amendments related to the rights of police officers and firefighters regarding retirement benefits. Overall, the bill aims to modernize and clarify various legal frameworks while ensuring better protection for consumers and enhancing operational efficiency within the insurance sector.

Statutes affected:
6385: 27-1.1-3, 27-2.5-2, 27-2.6-3, 27-4-27, 27-7.1-13.1, 27-9.3-2, 27-10.3-1, 27-14.3-32, 27-18-25, 27-18.5-2, 27-18.6-2, 27-18.9-5, 42-11-10, 42-11-13, 42-12.2-2, 42-12.3-5.1, 42-14.2-9, 42-14.5-2.1, 42-14.6-3, 42-17.8-2, 42-17.9-4, 42-20-3, 42-28.6-14, 42-30.1-2, 42-35.1-3, 42-37-1, 42-41-9, 5-39.3-15, 5-95-5, 6-1-5, 11-37.1-6, 12-13-1.1, 16-7-22, 23-12.7-3, 28-27-11, 28-45-9, 31-1-23, 31-27-2, 37-2-82, 39-26.1-10, 44-20.1-3, 45-21.2-9