Bill Text: CT HB05022 | 2014 | General Assembly | Introduced

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Bill Title: An Act Concerning Disclosure Of The Connecticut Fair Access To Insurance Requirements Plan.

Sponsorship: Committee Bill

Status: (Introduced - Dead) 2014-02-13 - Public Hearing 02/18 [HB05022 Detail]

Download: Connecticut-2014-HB05022-Introduced.html

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General Assembly		Raised Bill No. 5022
February Session, 2014		LCO No. 30
		*00030_______INS*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)

AN ACT CONCERNING DISCLOSURE OF THE CONNECTICUT FAIR ACCESS TO INSURANCE REQUIREMENTS PLAN.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 38a-328 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2014):

(a) The Insurance Commissioner shall make and enforce such reasonable regulations as [he] the commissioner deems necessary to adopt and implement a fire, liability and allied lines underwriting facility as authorized in the Federal Property Protection and Reinsurance Act of 1968. Such liability coverage shall be limited to those forms of insurance available on the normal voluntary market on October 1, 1978, for single-family, two-family, three-family or seasonal dwellings. The same deductibles as are available on the normal voluntary market shall also be made available for commercial properties now eligible for fire and allied lines insurance. The authority to adopt and implement such regulations specifically shall include the power to establish the lines of insurance to be included and the procedures to be used in the implementation.

(b) All insurance companies licensed in this state to write any or all such lines of insurance shall participate in the program and be subject to all regulations issued under subsection (a) of this section.

(c) The commissioner shall post on the Insurance Department's Internet web site information about any program or plan implemented for such lines of insurance pursuant to subsection (a) of this section and a link to any Internet web site established for any such program or plan.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2014	38a-328

Statement of Purpose:

To require the Insurance Commissioner to post on the Insurance Department's web site information about, and a link to the web site for, the Connecticut Fair Access to Insurance Requirements Plan and any other program or plan for fire, liability and allied lines of insurance established pursuant to section 38a-328 of the general statutes.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]