On February 18, 2020, the Connecticut Insurance Department released a notice reminding property and casualty insurers of two upcoming reporting requirements.
First, Conn. Gen. Stat. § 38a-393 requires insurance companies to report the number of cancellations and refusals to renew professional liability insurance policies in the previous calendar year on or before March 1. Companies must file the report even if there are no cancellations or non-renewals. Please note, the Department Notice states that the report is due on March 31; however, the statute indicates the correct due date of March 1.
Second, Conn. Gen. Stat. § 38a-350 requires all insurers writing automobile liability policies in Connecticut to file for each calendar year in which it writes business in Connecticut, a record of various insured motor vehicle figures, including, but not limited to, the number of such policies non-renewed or canceled, the number of such new policies underwritten, and the total number of such policies in force as of Dec. 31. The report is due 60 days after the start of each year.
The Department has not promulgated a form for use so each insurer must report in a manner that captures all of the required information. For questions about Connecticut property and casualty reporting requirements, or any other reporting needs, please contact Westmont Associates, Inc.