Connecticut General Statutes 38a-740 – Regulations
The commissioner may by regulation adopted in accordance with the provisions of chapter 54: (1) Establish such proper standards as the commissioner deems necessary to guide surplus lines brokers procuring any such policy of insurance, as is permitted under subsection (a) of section 38a-794, from any such unauthorized insurer; (2) require any unauthorized insurer from which any surplus lines broker has procured or intends to procure any policy of insurance, as is permitted under subsection (a) of section 38a-794, to file with the commissioner such evidence and in such form as the commissioner prescribes to enable the commissioner to establish the financial stability, qualifications and general suitability of such unauthorized insurer to issue any policy of insurance through any surplus lines broker, under section 38a-794; and (3) establish such reasonable filing fees as may be necessary to defray the cost of examining evidence filed with the commissioner by an unauthorized insurer either voluntarily or pursuant to the provisions of this section.
Terms Used In Connecticut General Statutes 38a-740
- Commissioner: means the Insurance Commissioner. See Connecticut General Statutes 38a-1
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Insurance: means any agreement to pay a sum of money, provide services or any other thing of value on the happening of a particular event or contingency or to provide indemnity for loss in respect to a specified subject by specified perils in return for a consideration. See Connecticut General Statutes 38a-1
- Policy: means any document, including attached endorsements and riders, purporting to be an enforceable contract, which memorializes in writing some or all of the terms of an insurance contract. See Connecticut General Statutes 38a-1