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Representations and Warranties Insurance in Rhode Island

Rhode Island generally allows 10 years under R.I. Gen. Laws § 9-1-13(a) for civil actions unless another statute provides otherwise, subject to claim-specific exceptions and accrual rules. That statutory filing period does not set the survival date negotiated for each representation or the insurer’s reporting window; if Rhode Island is the insured’s home state, the surplus-lines tax rate is 4%. 1,2,3

What Is Representations And Warranties?

Representations and warranties insurance can cover a buyer’s or seller’s loss from inaccurate statements in a stock or asset purchase agreement. For a business sale, check who is insured, who can recover and how known issues are treated. Read the national Representations and warranties guide.

What to Watch for in Rhode Island

  • Separate The Statute From The Survival Schedule

    R.I. Gen. Laws § 9-1-13(a) provides 10 years for civil actions unless another statute provides otherwise. Ask deal counsel to list a separate survival end date for each representation, then compare those dates with the insurer’s claim-reporting deadline. 1

  • Confirm When A Contract Claim Accrues

    Rhode Island measures the cited contract period from accrual; R.I. Gen. Laws § 9-1-13(a) covers civil actions unless another statute provides otherwise. For an R&W placement, ask counsel to identify the alleged breach date and put it beside the purchase-agreement survival date and policy notice deadline. 1

  • Show Home-State Tax In The Closing Costs

    Federal law assigns nonadmitted premium-tax authority to the insured’s home state. If Rhode Island is the home state for your R&W policy, 4% of net taxable premium applies under 2025 T-71A Surplus Line Broker Return of Gross Premiums. Ask the broker to state the tax base and any separate stamping or filing charge in the closing funds flow. 3,2

Who Regulates Insurance in Rhode Island

Rhode Island Department of Business Regulation, Insurance Division

The DBR Insurance Division provides an online public verification service for producers, adjusters, surplus-lines brokers, and other licensees, and accepts insurance complaints online. Contact the Division for help determining whether it has authority over a particular policy or dispute. 4,5,6

Surplus-lines tax and stamping office

Reported tax rate: 4% of net taxable premium; 2018 filing guide excludes listed broker, carrier and inspection fees Rhode Island’s 2024 return applies 4% to net taxable premium (gross premium less returned premium); its 2018 filing guide excludes broker, carrier, and inspection fees from the base. Confirm fee treatment with the Division of Taxation if your bill separates those charges, because no newer official fee-base guidance was located. 7,8

Providers With Documented State Licenses

These providers publish a national listing for Representations and warranties; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Rhode Island. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • CorgiCorgi Insurance Services, Inc.Insurance producer · checked 2026-09-28Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. 11

Questions to Ask Before You Buy in Rhode Island

  1. Which Rhode Island limitation period and accrual rule apply to each seller representation, and does the governing-law clause point to a different state?
  2. Can you put each negotiated representation survival date, the escrow release date, and the policy reporting deadline on one closing calendar?
  3. If the policy is placed on a surplus-lines basis, is Rhode Island the insured’s home state, what tax base applies, and who remits the tax?
  4. Which state bulk-sale notice, tax-clearance, or successor-liability issues should the deal team evaluate for this asset or stock purchase?

Representations And Warranties in Rhode Island: FAQ

How long is the written-contract limitation period in Rhode Island? 1

10 years under R.I. Gen. Laws § 9-1-13(a) for civil actions unless another statute provides otherwise. Accrual, claim classification, and statutory exceptions can change which period applies. 1

Does Rhode Island’s contract limitation period set the R&W survival period? 1

No. R.I. Gen. Laws § 9-1-13(a) sets a court-filing limit for civil actions unless another statute provides otherwise; it does not set the negotiated survival end date for a representation or the separate deadline to notify the insurer. 1

What surplus-lines tax applies to an R&W policy in Rhode Island? 2,3

4% of net taxable premium when Rhode Island is the insured’s home state, under 2025 T-71A Surplus Line Broker Return of Gross Premiums. Federal law assigns the premium-tax obligation to the home state; ask the broker to show the home-state and tax calculation on the closing statement. 2,3

Representations And Warranties in Other States

Other Coverage in Rhode Island

Sources

  1. R.I. Gen. Laws § 9-1-13(a). State Legislature / official state code; R.I. Gen. Laws § 9-1-13(a); 10 years period applies to civil actions unless another statute provides otherwise. Accessed 2026-09-29.
  2. 2025 T-71A Surplus Line Broker Return of Gross Premiums. Rhode Island Division of Taxation; 2025 return, p. 1, lines 1–4: net taxable premium is gross premium less returned premiums; 4% tax; filing due April 1, 2026. Accessed 2026-09-28.
  3. 15 U.S.C. § 8201: Nonadmitted insurance premium tax. U.S. House of Representatives, Office of the Law Revision Counsel; §8201(a): only the insured’s home state may require payment of premium tax for nonadmitted insurance. Accessed 2026-09-29.
  4. rhode-island insurance regulator. State insurance regulator; DBR Insurance Division overview links to complaint, license lookup, statutes, and regulations. Accessed 2026-09-28.
  5. DBR License Status Verification. State insurance regulator; Official page identifies online NAIC-partnered status checks for producers, adjusters, motor vehicle appraisers, surplus-lines brokers, and reinsurance intermediaries. Accessed 2026-09-28.
  6. DBR Insurance Consumers. State insurance regulator; Official consumer page explains the division's regulated insurance lines and online complaint route. Accessed 2026-09-28.
  7. 2025 T-71A Surplus Line Broker Return of Gross Premiums. Rhode Island Division of Taxation; 2025 return, p. 1, lines 1–4: net taxable premium is gross premium less returned premiums; 4% tax; filing due April 1, 2026. Accessed 2026-09-28.
  8. Guide to Tax Filings for Surplus Lines. Rhode Island Division of Taxation; 2018 Guide to tax filings, surplus-lines section: gross premium for tax purposes excludes carrier, broker, and inspection fees; no newer official fee-base instruction located as of 2026-09-28. Accessed 2026-09-28.
  9. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  10. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  11. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  12. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  13. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
  14. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

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