Bill Text: CT SB00278 | 2014 | General Assembly | Comm Sub

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Bill Title: An Act Concerning Restrictions On Insurers For Adverse Weather-related Events.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2014-04-02 - File Number 278 [SB00278 Detail]

Download: Connecticut-2014-SB00278-Comm_Sub.html

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General Assembly		Raised Bill No. 278
February Session, 2014		LCO No. 1694
		*_____SB00278INS___031914____*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)

AN ACT CONCERNING RESTRICTIONS ON INSURERS FOR ADVERSE WEATHER-RELATED EVENTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 38a-316d of the 2014 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2014):

(a) The declination, cancellation or nonrenewal of a homeowners insurance policy or an increase in the premium of such policy is prohibited if the declination, cancellation, [or] nonrenewal or increase is based solely on a loss incurred as a result of [a catastrophic event as declared by a nationally recognized catastrophe loss index provider] any adverse weather-related event and such loss was not caused by or resulting from the negligence of the insured. For the purposes of this section, an insurer shall not be deemed to have declined, cancelled or nonrenewed a policy if coverage is available through an affiliated insurer.

(b) The declination or nonrenewal of a homeowners insurance policy, the addition of a surcharge or any increase in the premium of such policy is prohibited if the declination, nonrenewal, surcharge or increase is based solely on any claim filed on the covered property while such property was owned by anyone other than the current applicant or insured, unless the risk from which such claim originated has not been mitigated.

(c) The cancellation or nonrenewal of a homeowners insurance policy or an increase in the premium of such policy is prohibited if the cancellation, nonrenewal or increase is based solely on inquiries made on such policy or a claim filed under such policy that resulted in a loss coverage payment by the insurer of less than five hundred dollars or in no loss coverage payment. [Such prohibition shall not apply if the insured filed more than one claim resulting from a noncatastrophic event in the three policy years immediately preceding that resulted in any loss coverage payment by the insurer.]

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2014	38a-316d

INS

Joint Favorable