CT HB06468

Repeals and replaces Section 38a-740 of the general statutes to clarify the commissioner's authority to establish regulations for surplus lines brokers and unauthorized insurers.

Authorizes the commissioner to establish standards for surplus lines brokers procuring policies from unauthorized insurers and require unauthorized insurers to file financial and suitability evidence with the commissioner.

Permits the commissioner to establish reasonable filing fees to defray examination costs of evidence submitted by unauthorized insurers.

Requires the commissioner to amend existing regulations under Section 38a-740 to conform with the Nonadmitted and Reinsurance Reform Act of 2010 (P.L. 111-203).

Takes effect upon passage.