Topic: Connecticut Developments
Yet another record-breaking storm
Hurricane Harvey has brought “500-year” rainfall and flood conditions to Southeastern Texas for the third time in three years, according to the Washington Post. How can insurers and reinsurers prepare for the next unprecedented storm?
Read MoreConnecticut Enacts Omnibus Insurance Law
Connecticut Governor Dannel P. Malloy recently signed House Bill 7183 (the “Act”), which makes various changes to the state’s insurance laws.
Read MoreConnecticut Enacts Senate Bill 260; Establishes Task Force to Study Autonomous Vehicles
Governor Dannel P. Malloy recently signed Senate Bill 260 (“SB 260”) into law. SB 260 authorizes the Office of Policy and Management, the Department of Motor Vehicles and the Department of Emergency Services and Public Protection to establish a pilot program pursuant to which certain municipalities may permit manufacturers to test autonomous vehicles on those municipalities’ roads. SB 260 also creates a 15-member task force to study autonomous vehicles and develop recommendations for regulating such vehicles. The task force must submit interim reports of its findings and submit a final report by January 1,...
Read MoreConnecticut General Assembly Passes Bill Authorizing Domestic Insurers to Divide
Both houses of the Connecticut General Assembly have passed HB 7025, which would create a new legal process whereby a Connecticut domestic insurer could divide into multiple insurers and allocate assets and obligations to the “new” insurer.
Read MoreLong Tales About Long Tails – Connecticut’s Appellate Court Makes New Law
In a sprawling 163 page opinion issued just last week, the Connecticut Appellate Court addressed, as a matter of first impression, five different issues that will significantly affect the disposition of asbestos, and potentially other, long tail claims in Connecticut.
Read MoreInsurance and Reinsurance Newsletter – January 2017
Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance.
Read MoreBill That Would Mandate Coverage of Certain 3D Mammograms Pending Before Legislature
A bill that would mandate coverage of breast cancer screenings by breast tomosynthesis is currently pending before Connecticut’s General Assembly.
Read MoreBill That Would Mandate Coverage of Failing Foundations Advances Through Committee
A bill that would require homeowners’ policies to cover mitigation undertaken to prevent a covered property from collapsing or caving in advanced through the Connecticut General Assembly’s Insurance and Real Estate Committee (“Committee”) Tuesday.
Read MoreConnecticut Bans Price Optimization
On December 4, 2015, the Connecticut Insurance Department (the “CID”) issued Bulletin PC-81 banning the practice of price optimization, a pricing method whereby insurers use factors not specifically related to an insured’s expected losses and expenses in pricing coverage.
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