CT SB00015

Requires the Insurance Commissioner to hold a public symposium providing an opportunity for public comment prior to approving individual or group long-term care policy rate filings (excluding policies precertified under the Connecticut Partnership for Long-Term Care).

Mandates the Commissioner set a symposium date within five business days of receiving a rate filing and post the date, place, and time on the Insurance Department's website, with the symposium held no later than sixty calendar days before the proposed effective date.

Requires the Commissioner to consider any oral or written comments from the public when deciding whether to approve, disapprove, or modify a long-term care policy rate filing.

Maintains existing loss ratio requirements (60% for individual policies, 65% for group policies) and requires rate filings to demonstrate anticipated claims will comply with these requirements.

Effective January 1, 2012, amending sections 38a-501 and 38a-528 of the general statutes.