Sec. 38a-328. (Formerly Sec. 38-114f). Adoption of a fire, liability and allied lines underwriting facility.
Sec. 38a-328. (Formerly Sec. 38-114f). Adoption of a fire, liability and allied
lines underwriting facility. (a) The Insurance Commissioner shall make and enforce
such reasonable regulations as he deems necessary to adopt and implement a fire, liability and allied lines underwriting facility as authorized in the Federal Property Protection
and Reinsurance Act of 1968. Such liability coverage shall be limited to those forms of
insurance available on the normal voluntary market on October 1, 1978, for single-family, two-family, three-family or seasonal dwellings. The same deductibles as are
available on the normal voluntary market shall also be made available for commercial
properties now eligible for fire and allied lines insurance. The authority to adopt and
implement such regulations specifically shall include the power to establish the lines
of insurance to be included and the procedures to be used in the implementation.
(b) All insurance companies licensed in this state to write any or all such lines of
insurance shall participate in the program and be subject to all regulations issued under
subsection (a) of this section.
(1969, P.A. 152, S. 1, 2; P.A. 77-614, S. 163, 610; P.A. 78-90; P.A. 80-482, S. 295, 348.)
History: P.A. 77-614 placed insurance commissioner within the department of business regulation and made insurance
department a division within that department, effective January 1, 1979; P.A. 78-90 made commissioner's regulation duty
mandatory rather than discretionary, made provisions applicable re liability coverage and added provisions limiting liability
coverage in Subsec. (a); P.A. 80-482 restored insurance commissioner and division to prior independent status and abolished
the department of business regulation; Sec. 38-114f transferred to Sec. 38a-328 in 1991.