Sec. 38a-316c. Coastal market assistance program established to assist coastal area residents to obtain homeowners insurance. Regulations.
Sec. 38a-316c. Coastal market assistance program established to assist coastal
area residents to obtain homeowners insurance. Regulations. (a) The Insurance
Commissioner may establish a coastal market assistance program to assist homeowners
to obtain homeowners insurance for their residential dwellings located in proximity to
the coastal area of the state. Such program may consist of a network of participating
insurers and insurance producers that act on a voluntary basis and operate under the
auspices of the commissioner to provide such assistance to homeowners. The commissioner may require any insurer that declines to issue or renew a homeowners insurance
policy to provide notice, in writing, to the affected applicant or insured of the existence
of such program.
(b) The commissioner may adopt regulations, in accordance with chapter 54, to
implement the provisions of this section.
(P.A. 07-77, S. 3.)
History: P.A. 07-77 effective May 30, 2007.