Connecticut 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 MoreTopic: Connecticut Developments
Connecticut 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...
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.
Read MoreConnecticut High Court Overturns $35 million CUTPA Verdict in Auto Body Rate Case
The Connecticut Supreme Court recently overturned a $34.7 million judgment against The Hartford Fire Insurance Company (“Hartford”) in a class action suit filed by over 1000 auto body repair shops alleging unfair trade practices by Hartford for paying the shops well below their hourly rates.
Read MoreConnecticut Governor Urges Treasury and the Office of U.S. Trade Representatives to Leave Reductions in Collateral Requirements of Reinsurers to the States
On February 9, Connecticut Governor Dannel Malloy wrote a letter to U.S. Department of the Treasury Secretary Jacob Lew and U.S. Trade Representative Ambassador Michael Froman expressing his concern over their departments’ consideration of preempting state insurance regulation by potentially negotiating a “covered agreement” with foreign authorities.
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