Connecticut Developments Archives - Page 4 of 15

Connecticut Governor Urges Treasury and the Office of U.S. Trade Representatives to Leave Reductions in Collateral Requirements of Reinsurers to the States

Feb 11, 2015 | Connecticut Developments, Industry Developments, Regulatory, Reinsurance

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.

Connecticut Supreme Court: Insurer Has Standing to Seek Declaratory Judgment Against Fellow Insurer of a Common Insured

Aug 14, 2014 | Connecticut Developments, Coverage & Claims | United States

The Connecticut Supreme Court recently held that an insurer has standing to pursue a declaratory judgment action against another insurer of a common insured to determine the existence of a duty to defend and the allocation of defense costs among them. Travelers Cas. & Sur. Co. of America, et al. v. The Netherlands Ins. Co., et al., No. S.C. 19089, — Conn. — (Conn. Aug. 5, 2014). A copy of the decision is available here.

Update: CT Captive Insurance Amendments Effective October 1, 2014

by Theodore Augustinos | May 14, 2014 | Captives, Connecticut Developments, Regulatory | United States

An act amending the Connecticut captive statute pursuant to Public Act No. 14-6 (the “Act”), reported here, has been signed by Connecticut Governor Dannel P. Malloy, and will take effect October 1, 2014.

CT Seeks to Amend Captive Insurance Law in Continued Effort to Attract Captives

May 6, 2014 | Captives, Connecticut Developments, Regulatory, Reinsurance | United States

Public Act No. 14-6 (the “Act”), which would amend Connecticut’s captive law, has passed both the Connecticut State Senate and House of Representatives, and is on its way to Governor Malloy’s desk for signature.

Connecticut Lawmakers Consider Bill that Would Mandate Coverage by Insurers for Homes that Lack Permanent Storm Shutters; Provides Authority for Private Insurers to Offer Flood Insurance Coverage

Mar 12, 2014 | Connecticut Developments, Regulatory | United States

Storm Shutters

Pursuant to the Connecticut Insurance Code, “[n]o insurer that delivers, issues for delivery, renews, amends or endorses a homeowners insurance policy in this state shall refuse to renew or issue such a policy solely on the basis that the insured or prospective insured has failed to install permanent storm shutters on his or her residential dwelling as a means of mitigating loss from hurricanes or other severe storms.”

Connecticut Supreme Court Determines that the Make Whole Doctrine Does Not Apply to Insurance Policy Deductibles

Aug 13, 2013 | Connecticut Developments, Coverage & Claims | United States

The Connecticut Supreme Court, in a much anticipated subrogation decision, recently held that an insurer has priority over a policyholder in the context of a recovery for insurance policy deductible losses. See Fireman’s Fund Ins. Co. v. TD Banknorth Ins. Agency, Inc., 309 Conn. 449, — A.3d —-, 2013 WL 3818112 (Conn. July 30, 2013).

Connecticut Now Requires Insurers to Report on Steps Taken to Handle Climate Change Risk

Jul 25, 2013 | Climate Change, Connecticut Developments | United States

On July 17, 2013, the Connecticut Insurance Department (the “Department”) announced that it is requiring Connecticut-based insurers writing annual premiums of more than $100 million in 2012 to complete an annual Climate Risk Survey (the “Survey”). According to the Department’s press release, 110 insurers meet the requirement criteria and must complete and submit the Survey by August 30, 2013.

UPDATE: Connecticut Enacts Auto Glass Repair Disclosure Bill

by Zachary Lerner | Jun 12, 2013 | Connecticut Developments, Regulatory | United States

This updates our May 17, 2013 blog post.

On June 3, 2013, Connecticut Governor Dannel Malloy signed into law HB 5072 (the “Bill”), restricting insurance companies and affiliated entities from influencing insureds into using specific automotive glass repair establishments.

Connecticut Considering Auto Glass Repair Disclosure Bill

by Zachary Lerner | May 17, 2013 | Connecticut Developments, Regulatory | United States

Earlier this week, the Connecticut House passed HB 5072, limiting the abilities of insurance companies or their representatives to “steer” insureds to specific automotive glass repair facilities. The new legislation follows a trend in Connecticut to dissuade insurers from directing insureds to use specific facilities. Connecticut’s existing laws prevent appraisers from requiring that specific locations or companies be used for automotive repairs.

Connecticut Continues Efforts to Attract Captives

May 15, 2013 | Connecticut Developments, Regulatory, Reinsurance

At Connecticut’s first Captive Insurance Day at the Capitol May 14, 2013, representatives of the Connecticut Insurance Department (the “CID”), the Connecticut Captive Insurance Association, the Department of Economic and Community Development, and the co-chairs of the Connecticut General Assembly’s Insurance and Real Estate Committee emphasized Connecticut’s continuing efforts to attract new captive insurers to the state, including through SB 1093.

Topic: Connecticut Developments

Connecticut Governor Urges Treasury and the Office of U.S. Trade Representatives to Leave Reductions in Collateral Requirements of Reinsurers to the States

Connecticut Supreme Court: Insurer Has Standing to Seek Declaratory Judgment Against Fellow Insurer of a Common Insured

Update: CT Captive Insurance Amendments Effective October 1, 2014

CT Seeks to Amend Captive Insurance Law in Continued Effort to Attract Captives

Connecticut Lawmakers Consider Bill that Would Mandate Coverage by Insurers for Homes that Lack Permanent Storm Shutters; Provides Authority for Private Insurers to Offer Flood Insurance Coverage

Connecticut Supreme Court Determines that the Make Whole Doctrine Does Not Apply to Insurance Policy Deductibles

Connecticut Now Requires Insurers to Report on Steps Taken to Handle Climate Change Risk

UPDATE: Connecticut Enacts Auto Glass Repair Disclosure Bill

Connecticut Considering Auto Glass Repair Disclosure Bill

Connecticut Continues Efforts to Attract Captives

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