Sec. 38a-305. (Formerly Sec. 38-107). Additional powers of fire insurance companies.
Sec. 38a-305. (Formerly Sec. 38-107). Additional powers of fire insurance
companies. (a) Domestic insurance companies having power to insure against loss by
fire, in addition to such other powers as they may have under their respective charters,
and foreign and alien insurance companies authorized to do business in this state and
having power to insure against such loss, may make insurances on any kind of property or
valuable interest therein (1) against loss or damage by fire, lightning and other electrical
disturbances, wind, tornado, cyclone, earthquake, hail, frost, snow, ice, weather or climatic conditions, including excess or deficiency of moisture, flood, rain or drought,
rising of the waters of the ocean or its tributaries, bombardment, invasion, insurrection,
riot, strikes, sabotage, war, civil war or commotion, military or usurped power, and by
explosions whether fire ensues or not, except explosions of steam boilers; (2) against
loss or damage by insects, disease or other causes to trees, crops or other products of
the soil; (3) against loss or damage arising from the breakage or leakage of sprinklers,
pumps or other apparatus erected for extinguishing fires or of water pipes or other conduits or containers; (4) against accidental injury to or by such sprinklers, pumps, apparatus, water pipes, conduits or containers; (5) against loss or damage by water entering
through leaks or openings in buildings; (6) on automobiles, airplanes, seaplanes, dirigibles and other aircraft and on any valuable interest therein; (7) against loss or damage
from all or any of the hazards of fire, explosion, transportation and collision and from
legal liability for damage to property resulting from the maintenance and use thereof, and
from burglary, theft, vandalism, malicious mischief or wrongful conversion, disposal or
concealment whether or not held under a conditional sale contract or subject to chattel
mortgage; (8) against intentional or other damage to, or loss of, property of any kind,
real or personal; and (9) to effect reinsurances of any risks taken by them.
(b) "Loss or damage", as used in this section, includes loss of use and occupancy,
loss of rents, rental values and profits and consequential damages.
(1949 Rev., S. 6103; P.A. 90-243, S. 51.)
History: P.A. 90-243 divided the section into Subsecs., substituted "foreign" for "nonresident" and "alien" for "foreign",
and added Subdiv. indicators in the new Subsec. (a); Sec. 38-107 transferred to Sec. 38a-305 in 1991.