38a-745 - (Formerly Sec. 38-86a). Notice on policies issued by unauthorized issuers.
Each insurance policy issued pursuant to sections 38a-741 to 38a-744, inclusive, and 38a-794 by a surplus lines insurer shall bear on its cover, in not less than twelve-point boldface type in capital letters, the following:
NOTICE
THIS IS A SURPLUS LINES POLICY AND IS NOT PROTECTED BY THE CONNECTICUT INSURANCE GUARANTY ASSOCIATION.
(P.A. 87-175, S. 3, 4; P.A. 90-243, S. 37; P.A. 01-113, S. 37, 42; P.A. 08-129, S. 1; P.A. 12-145, S. 29.)
History: P.A. 90-243 made a technical correction; Sec. 38-86a transferred to Sec. 38a-745 in 1991; P.A. 01-113 deleted reference to Sec. 38a-795, effective September 1, 2002; P.A. 08-129 amended notice required to appear on cover of insurance policy issued by surplus lines insurers; P.A. 12-145 deleted reference to Sec. 38a-777, effective June 15, 2012.
Chapter 701e - (Insurance Administrators) Reinsurance Intermediary Act
Section 38a-750 to 38a-759 - (Formerly Secs. 38-92r and 38-92u to 38-92cc). Insurance administrators.
Sections 38a-750 to 38a-759, inclusive, are repealed.
(P.A. 88-298, S. 1, 2, 5-14; P.A. 90-243, S. 172; P.A. 91-29, S. 7, 8.)
Section 38a-760 - Short title: Reinsurance Intermediary Act.
Sections 38a-760 to 38a-760j, inclusive, may be cited as the "Reinsurance Intermediary Act".
(P.A. 92-112, S. 22, 35; P.A. 12-145, S. 33.)
History: P.A. 12-145 replaced reference to Sec. 38a-760i with reference to Sec. 38a-760j, effective June 15, 2012.
Section 38a-760a - Definitions.
As used in sections 38a-760 to 38a-760j, inclusive:
(1) "Actuary" means a person who is a member in good standing of the American Academy of Actuaries;
(2) "Controlling person" means any person, firm, association or corporation who directly or indirectly has the power to direct or cause to be directed, the management, control or activities of the reinsurance intermediary;
(3) "Insurer" means any person, firm, association or corporation duly licensed in this state pursuant to section 38a-41;
(4) "Licensed producer" means an agent or broker licensed pursuant to sections 38a-769 to 38a-800, inclusive, or licensed as a reinsurance intermediary pursuant to section 38a-760b;
(5) "Reinsurance intermediary" means a reinsurance intermediary-broker or a reinsurance intermediary-manager as these terms are defined in subdivisions (6) and (7) of this section;
(6) "Reinsurance intermediary-broker" means any person, other than an officer or employee of the ceding insurer, or firm, association or corporation, who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of such insurer;
(7) "Reinsurance intermediary-manager" means any person, firm, association or corporation who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department or underwriting office, and acts as an agent for such reinsurer whether known as a reinsurance intermediary-manager, manager or other similar term. Notwithstanding any provision of the general statutes, the following persons shall not be considered a reinsurance intermediary-manager, with respect to such reinsurer, for the purposes of sections 38a-760 to 38a-760i, inclusive: