Raimondo vetoes three bills, signs 100 others
PROVIDENCE, R.I. — Gov. Gina Raimondo vetoed three bills Monday night including insurance legislation pushed through in the final minutes of this year’s legislative session at the request of House Speaker Nicholas Mattiello’s constituent.
Also coming under her veto pen was a bill that would have made it a felony to socially isolate seniors and another bill that would have required marijuana growing to be disclosed in real estate transactions.
Raimondo also signed more than 100 bills, clearing her desk of all legislation sent to her by the General Assembly, her office announced late Monday.
The insurance bill, dealing with surplus lines market, was opposed by Raimondo’s superintendent of banking and insurance along with numerous insurers, brokers and trade groups.
It passed the General Assembly minutes before midnight, appearing suddenly on the Senate calendar and clearing the chamber 13-12 with 12 senators not voting and one trying unsuccessfully to vote “no” after the fact.
Introduced by sole sponsor Rep. Scott Slater, D-Providence, the bill would have prevented insurers from beginning the process of cancelling surplus lines policies for nonpayment until 45 days “after the end of the month in which the transaction occurs.”
The chief proponent of the bill was Paul Damiano of Damiano Insurance in Cranston, who told lawmakers at a committee hearing that insurance companies have become overly aggressive in their billing tactics, forcing rapid premium payments. Damiano has given $4,500 each to Mattiello and Slater’s campaigns over the last five years.
But insurance companies and brokers who deal in surplus lines insurance, unregulated policies covering high risk assets or activities, said no other state mandates such long repayment periods. The extended time-frame could lead to higher premiums or drive some brokers and insurers out of the state, they said.
“This is a well-intentioned bill that is intended