Connecticut Administrative Code

Regulations of Connecticut State AgenciesSec. 38a-707-4. Workers' compensation assigned riskWorkers' Compensation Assigned Risk policyholders may be charged one per cent of the premium subject to a ten-dollar minimum fee and a maximum fee of two hundred and fifty dollars. (Effect…

Regulations of Connecticut State AgenciesSec. 38a-707-5. Fire and allied linesThere will be no fee permitted for \"Fair Plan\" submissions. Non-standard fire and allied lines policyholders may be charged a fee of one per cent of the premium. (Effective September 25, 1992; Amended…

Regulations of Connecticut State AgenciesSec. 38a-707-6. Substandard errors and omissionsSubstandard Errors and Omissions policyholders may be charged ten dollars or five per cent of the premiums up to a maximum of two hundred and fifty dollars. (Effective September 25, 1992; Ame…

Regulations of Connecticut State AgenciesSec. 38a-707-7. Surplus lines submissions(a) A duly licensed producer and surplus lines broker involved in the same transaction may each charge a flat fee per policy for business placed in the surplus lines market, provided that the sum of…

Regulations of Connecticut State AgenciesSec. 38a-707-8. Miscellaneous and renewals(a) Any other service charges not scheduled in sections 38a-707-2 to 38a-707-7, inclusive, shall be submitted individually for approval. Except as provided in this section and in section 38a-707-7 …

Regulations of Connecticut State AgenciesSec. 38a-707-9. Service fee disclosureNo insurance producer or surplus lines broker shall charge any service fee as specified in sections 38a-707-2 to 38a-707-8, inclusive, without first obtaining a written memorandum, signed by the party …

Regulations of Connecticut State AgenciesSec. 38a-72-1. DefinitionsAs used in sections 38a-72-1 to 38a-72-13, inclusive, of the Regulations of Connecticut State Agencies: (a) “Adjusted RBC Report” means an RBC Report which has been adjusted by the commissioner in accordance with …

Regulations of Connecticut State AgenciesSec. 38a-72-10. Foreign insurers(a) Any foreign insurer shall, upon the written request of the commissioner, submit to the commissioner an RBC Report as of the end of the calendar year just ended the later of: (1) The date an RBC Report wo…

Regulations of Connecticut State AgenciesSec. 38a-72-11. NoticesAll notices by the commissioner to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission …

Regulations of Connecticut State AgenciesSec. 38a-72-12. Phase-in provision(a) For RBC Reports required to be filed by property and casualty insurers with respect to 1994, the following requirements shall apply in lieu of the provisions of sections 38a-72-3, 38a-72-4, 38a-72-5, a…

Regulations of Connecticut State AgenciesSec. 38a-72-13. SeverabilityIf any provision of sections 38a-72-1 to 38a-72-13, inclusive, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of sec…

Regulations of Connecticut State AgenciesSec. 38a-72-2. RBC reports(a) Every domestic insurer shall, on or prior to each March 1 (the “filing date”), prepare and submit to the commissioner a report of its RBC Levels as of the end of the calendar year just ended, in a form and con…

Regulations of Connecticut State AgenciesSec. 38a-72-3. Company action level event(a) “Company Action Level Event” means any of the following events: (1) The filing of an RBC Report by an insurer which indicates that: (A) The insurer's Total Adjusted Capital is greater than or eq…

Regulations of Connecticut State AgenciesSec. 38a-72-4. Regulatory action level event(a) \"Regulatory Action Level Event\" means, with respect to any insurer, any of the following events: (1) The filing of an RBC Report by the insurer which indicates that the insurer's Total Adju…

Regulations of Connecticut State AgenciesSec. 38a-72-5. Authorized control level event(a) \"Authorized Control Level Event\" means any of the following events: (1) The filing of an RBC Report by the insurer which indicates that the insurer's Total Adjusted Capital is greater than…

Regulations of Connecticut State AgenciesSec. 38a-72-6. Mandatory control level event(a) “Mandatory Control Level Event” means any of the following events: (1) The filing of an RBC Report which indicates that the insurer's Total Adjusted Capital is less than its Mandatory Control…

Regulations of Connecticut State AgenciesSec. 38a-72-7. Hearings(a) The insurer shall have the right to a departmental hearing, on a record, at which the insurer may challenge any determination or action by the commissioner upon: (1) Notification to an insurer by the commissioner…

Regulations of Connecticut State AgenciesSec. 38a-72-8. Confidentiality and prohibition on announcements(a) All RBC Reports (to the extent the information therein is not required to be set forth in a publicly available annual statement schedule) and RBC Plans (including the resul…

Regulations of Connecticut State AgenciesSec. 38a-72-9. Supplemental provisions; Exemption(a) The provisions of sections 38a-72-1 to 38a-72-13, inclusive, are supplemental to any other provisions of the laws and regulations of this state, and shall not preclude or limit any other…

Regulations of Connecticut State AgenciesSec. 38a-72a-1. PreambleThe State of Connecticut Insurance Department recognizes that licensed insurers routinely enter into reinsurance agreements that yield legitimate relief to the ceding insurer from strain to surplus. However, it is i…

Regulations of Connecticut State AgenciesSec. 38a-72a-2. ScopeThese regulations, sections 38a-72a-1 to 38a-72a-5, inclusive, shall apply to all domestic life and accident and health insurers and to all other licensed life and accident and health insurers which are not subject to …

Regulations of Connecticut State AgenciesSec. 38a-72a-3. Accounting requirements(a) No insurer subject to these regulations shall, for reinsurance ceded, reduce any liability or establish any asset in any financial statement filed with the Department if, by the terms of the reins…

Regulations of Connecticut State AgenciesSec. 38a-72a-4. Written agreements(a) No reinsurance agreement or amendment to any agreement may be used to reduce any liability or to establish any asset in any financial statement filed with the Department, unless the agreement, amendmen…

Regulations of Connecticut State AgenciesSec. 38a-72a-5. Existing agreementsInsurers subject to this regulation shall reduce to zero by December 31, 1995 any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of t…

Regulations of Connecticut State AgenciesSec. 38a-740-1. DefinitionsAs used in sections 38a-740-1 to 38a-740-11, inclusive, of the Regulations of Connecticut State Agencies: (a) An \"affiliate\" of, or person \"affiliated\" with, a specific person means a person that directly, or…

Regulations of Connecticut State AgenciesSec. 38a-740-10. Actual financial condition and claim practices of eligible surplus lines insurersNothing in sections 38a-740-1 to 38a-740-9, inclusive, of the Regulations of Connecticut State Agencies shall be deemed to impose on the comm…

Regulations of Connecticut State AgenciesSec. 38a-740-11. Fees(a) Upon the initial filing of the material required by section 38a-740-4 of the Regulations of Connecticut State Agencies, each eligible insurer shall pay to the commissioner a nonrefundable fee of one thousand dollar…

Regulations of Connecticut State AgenciesSec. 38a-740-2. Eligible surplus lines insurersNo surplus lines broker may procure insurance for any subjects or risks resident, located or to be performed in this state from an insurer, except one declared to be an eligible surplus lines …

Regulations of Connecticut State AgenciesSec. 38a-740-3. WaiverExcept when precluded by law, the commissioner may, where good cause appears, waive the applicability of any provision of sections 38a-740-1 through 38a-740-11, inclusive, of the Regulations of Connecticut State Agenc…

Regulations of Connecticut State AgenciesSec. 38a-740-4. Standards for eligible surplus lines insurersNo insurer shall be or become an eligible surplus lines insurer unless authorized by the commissioner in accordance with the following conditions: (a) For each line of insurance …

Regulations of Connecticut State AgenciesSec. 38a-740-5. HearingAny insurer whose application to be declared an eligible surplus lines insurer or a domestic surplus lines insurer is denied may request the commissioner for a hearing. (Effective September 25, 1992; Transferred and …

Regulations of Connecticut State AgenciesSec. 38a-740-6. Requirements of eligible surplus lines insurersIn order to remain an eligible surplus lines insurer in this state the unauthorized insurer shall comply with the following requirements. (a) The insurer shall continue to main…

Regulations of Connecticut State AgenciesSec. 38a-740-7. NotificationAny eligible surplus lines insurer is required to notify the commissioner within thirty (30) days of the happening of any one or more of the following: (1) the suspension or revocation of a license or right to t…

Regulations of Connecticut State AgenciesSec. 38a-740-8. List of eligible surplus lines insurersThe commissioner shall from time to time publish a list of all insurers authorized to be eligible surplus lines insurers, and shall mail a copy thereof to each licensed surplus lines b…

Regulations of Connecticut State AgenciesSec. 38a-740-9. Withdrawal of eligibility; grounds; noticeIf at any time the commissioner has reason to believe that any insurer authorized to act as an eligible surplus lines insurer pursuant to section 38a-740-4 of the Regulations of Con…

Regulations of Connecticut State AgenciesSec. 38a-769-1—38a-769-8. Transferred, June 22, 1995.Former SectionNew Section38a-769-138a-788-138a-769-238a-788-238a-769-338a-788-338a-769-438a-788-438a-769-538a-788-538a-769-638a-788-638a-769-738a-788-738a-769-838a-788-8(Effective June 2…

Regulations of Connecticut State AgenciesSec. 38a-78-1. PurposeThe purpose of sections 38a-78-1 to 38a-78-9, inclusive, of the Regulations of Connecticut State Agencies is to prescribe: (a) requirements for statements of actuarial opinion that are to be submitted in accordance wi…

Regulations of Connecticut State AgenciesSec. 38a-78-10. (Repealed) Repealed December 23, 2008. AUTHORITY: Conn. Gen. Stat. § 38a-78 AUTHORITY: Conn. Gen. Stat. § 38a-78

Regulations of Connecticut State AgenciesSec. 38a-78-11. Introduction(a) Scope. Sections 38a-78-11 to 38a-78-16, inclusive, of these regulations shall apply to all individual and group health (accident and sickness) insurance coverages, including, but not limited to, single premi…

Regulations of Connecticut State AgenciesSec. 38a-78-12. DefinitionsAs used in Sections 38a-78-11 to 38a-78-16, inclusive, of these regulations:(a) \"Annual-Claim Cost\" means the net annual cost per unit of benefit before the addition of expenses, including claim settlement expe…

Regulations of Connecticut State AgenciesSec. 38a-78-13. Claim reserves(a) General. (1) Claim reserves are required for all incurred but unpaid claims on all health insurance policies. For contracts with an elimination period, the duration of disablement shall be measured as dati…

Regulations of Connecticut State AgenciesSec. 38a-78-14. Premium reserves(a) General. (1) Except as noted in subdivision (2) of this subsection, unearned premium reserves are required for all contracts with respect to the period of coverage for which premiums, other than premiums…

Regulations of Connecticut State AgenciesSec. 38a-78-15. Contract reserves(a) General. (1) Contract reserves are required, unless otherwise specified in subdivision (2) of this subsection, for: (A) all individual and group contracts with which level premiums are used; or(B) all i…

Regulations of Connecticut State AgenciesSec. 38a-78-16. ReinsuranceIncreases or offsetting credits to reserves because of reinsurance assumed or reinsurance ceded, must be determined in a manner consistent with minimum reserve standards and with all applicable provisions of the …

Regulations of Connecticut State AgenciesSec. 38a-78-17. PurposeThe purpose of Sections 38a-78-18 to 38a-78-20, inclusive, is to permit the use of mortality tables that reflect differences in mortality between smokers and nonsmokers in determining minimum reserve liabilities for …

Regulations of Connecticut State AgenciesSec. 38a-78-18. DefinitionsAs used in Sections 38a-78-19 and 38a-78-20:(a) \"1980 CSO Table, with or without Ten-Year Select Mortality Factor\" means that mortality table, consisting of separate rates of mortality for male and female lives…

Regulations of Connecticut State AgenciesSec. 38a-78-19. Alternate tables(a) For any policy of insurance delivered or issued for delivery in this state on or after the date of election pursuant to Section 38a-439 (e) (11) of the General Statutes for that policy form, but prior to…