Sec. 38a-387. (Formerly Sec. 38-344). Special surety or guaranty filings. Order to suspend or modify filing requirements.
Sec. 38a-387. (Formerly Sec. 38-344). Special surety or guaranty filings. Order to suspend or modify filing requirements. (a) Any special filing with respect to
a surety or guaranty bond required by law or by court or executive order or by order,
rule or regulation of a public body, not covered by a previous filing, shall become
effective when filed and shall be deemed to meet the requirements of sections 38a-363
to 38a-388, inclusive, until such time as the commissioner reviews the filing and so long
thereafter as the filing remains in effect.
(b) If, within forty-five days after a special surety or guaranty filing subject to subsection (a) of this section has become effective, the commissioner finds that such filing
does not meet the requirements of sections 38a-363 to 38a-388, inclusive, he shall send
to the insurer which made such filing written notice of disapproval, specifying therein
in what respects he finds such filing fails to meet the requirements of said sections and
stating, within a reasonable period thereafter, when such filing shall be deemed no longer
effective. Such disapproval shall not affect any contract made or issued prior to the
expiration of the period set forth in such notice.
(c) Under such regulations as he adopts the commissioner may, by written order,
suspend or modify the requirement of filing as to any kind of insurance, subdivision or
combination thereof, or as to classes of risks, the rates for which cannot practicably be
filed before they are used. Such orders and regulations shall be made known to such
insurers.
(d) Upon the written application of the insured, stating his reasons therefor, filed
with and approved by the commissioner, a rate in excess of that provided by a filing
otherwise applicable may be used on any specific risk.
(1972, P.A. 273, S. 26; P.A. 82-353, S. 14, 26; P.A. 92-60, S. 16.)
History: P.A. 82-353 eliminated the provisions re filing of manual of classifications, rules, rates, rating plans and
modifications, review of filings and the waiting period and added a provision re disapproval of special surety or guaranty
filings, effective July 1, 1983; Sec. 38-344 transferred to Sec. 38a-387 in 1991; P.A. 92-60 made technical corrections for
statutory consistency.
See Secs. 38a-676 and 38a-688 re review of rates for commercial risk insurance and personal risk insurance.
Annotations to former section 38-344:
Cited. 169 C. 267. Cited. 186 C. 507.