CT HB06868

Expands the definition of "covered claim" to include claims assumed through mergers, acquisitions, asset purchases, and reinsurance transactions, effective October 1, 2015.

Increases claim payment limits from $400,000 to $500,000 for insurers declared insolvent on or after October 1, 2015, while maintaining lower limits for earlier insolvencies.

Modifies the definition of "insolvent insurer" to require a final court order of liquidation with a finding of insolvency in the insurer's state of domicile, rather than a determination of insolvency.

Excludes certain claims from coverage including those under surplus lines carriers, risk retention groups, self-insurers, and policies issued by unlicensed insurers, as well as obligations assumed after commencement of delinquency proceedings.

Adds exclusion from life and annuity insurance guaranty coverage for policies providing hospital, medical, prescription drug, or other health care benefits under Medicare Parts C and D.