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.
Connecticut Developments
Update: CT Captive Insurance Amendments Effective October 1, 2014
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
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
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
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
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
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
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
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. …
Connecticut Approves First Certified Reinsurer
The Connecticut Insurance Department (the “CID”) has approved Swiss Reinsurance Co. Ltd. as the first certified reinsurer eligible for reduced credit for reinsurance collateral requirements in Connecticut, according to a notice published on the CID website April 2, 2013. …