CT HB05370

Extends the sunset date for Connecticut Foundation Solutions Indemnity Company, Inc. from June 30, 2022 to June 30, 2030, effective July 1, 2020.

Upon termination of the captive insurance company, all its rights and properties shall pass to and be vested in the state of Connecticut.

Requires the Insurance Commissioner to study methods available to accelerate insurer responses to homeowners insurance claims for foundation deterioration caused by pyrrhotite.

Mandates the Insurance Commissioner submit a report on findings to the joint standing committee on insurance by January 1, 2021.