CT SB00844

Insurance companies, producers, and attorneys may offer customers free or reduced-cost value-added products and services not specified in policies, provided they relate to coverage and serve purposes like loss mitigation, risk monitoring, health enhancement, or financial wellness education

Insurers may test new value-added products through pilot programs lasting up to one year after providing advance notice to the commissioner, who has 21 days to reject the program

Noncash gifts may be offered in connection with insurance marketing or retention if the cost is deemed reasonable by the commissioner, offers are not unfairly discriminatory, and customers are not required to purchase insurance in exchange

Insurers are prohibited from offering insurance as an inducement to purchase another policy and from using the words "free" or "no cost" in advertisements

Effective date of October 1, 2021, amending sections 38a-825 (general insurance) and 38a-623 (fraternal benefit societies)