Current News and Updates

 ***IMPORTANT NOTICE***
Filing Review Guidelines Related to Underwriting Coastal Homeowners Insurance Policies
December 9, 2011
NOTE: The following guidelines supersede the November 9, 2009 edition of the Filing Review Guidelines Related to Underwriting Coastal Homeowners Insurance Policies. Insurance companies are advised to distribute these revised guidelines to all areas of the company involved with matters related to underwriting homeowners business.
On January 23, 2007, the Insurance Department (the “Department”) released guidance to the industry regarding the Insurance Department’s review of Underwriting Guidelines Related to Coastal Homeowners Insurance Policies (the “2007 Guidelines”)1 required by Conn. Gen. Stat. Section 38a-689. Those Guidelines were later modified in 2008 and 2009. In the aftermath of Tropical Storm Irene in 2011, these revised Guidelines are intended to clarify and provide direction to the insurance industry that the Department will only allow hurricane deductibles to be imposed with respect to losses due to a hurricane occurring anywhere in the State of Connecticut as reported by the National Weather Service of which the National Hurricane Center is a part, or its successor (collectively referred to herein as the “NWS”) when such hurricane results in maximum sustained surface winds of 74 miles per hour or more anywhere in the State of Connecticut. Such hurricane deductibles may be applied only during the period commencing with the issuance of a hurricane warning bulletin for any part of the state by the NWS and concluding the earlier of: (i) 24 hours following termination of the last hurricane warning issued for any part of Connecticut by the NWS; or (ii) 24 hours after the hurricane is downgraded from a hurricane by the NWS for any part of Connecticut.