REVISIONS TO CONNECTICUT’S CREDIT FOR REINSURANCE LAW
Effective August 6, 2013, Connecticut has adopted requirements in line with the November 6, 2011 amendments to the NAIC Credit for Reinsurance Model Law and Regulation that governs how a reinsurer may become certified in Connecticut for purposes of insurers taking a credit for amounts ceded to such reinsurer. As part of its new program, the Connecticut Insurance Department has created a Credit for Reinsurance webpage which contains all of the necessary applications, instructions and regulations in one location. Companies seeking to become certified must contact the Financial Regulation Division before submitting an application. State of Connecticut Insurance Department, Requirements to Become a Connecticut Certified Reinsurer – Updated, Bulletin No. FS-25-1 (Aug. 12, 2013).
This post written by Abigail Kortz.
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