Connecticut House Bill 6379 will eliminate a requirement that executive affidavits be submitted showing a diligent search of the admitted market. Under the bill’s provisions, licensees and insureds must now submit signed statements to the effect that coverage was not available in the admitted market after a diligent search and that the amount of coverage procured is limited to the portion not available within the admitted market.
Effective October 1, 2013, these statements are to be filed quarterly, due the 15th of February, May, August and November. Additional information regarding the policy is required in the signed statements, including type of policy and location of any real property insured. NAPSLO members can access more information about the bill through the StateNet portal of the NAPSLO website using their member ID and password.
No comments:
Post a Comment