Sec. 38a-670. (Formerly Sec. 38-201h). Agreements to insure uninsurable applicants. Approval. Revocation.
Sec. 38a-670. (Formerly Sec. 38-201h). Agreements to insure uninsurable applicants. Approval. Revocation. (a) Agreements may be made among admitted insurers with respect to the equitable apportionment among them of casualty insurance which
may be afforded applicants who are in good faith entitled to but who are unable to procure
such insurance through ordinary methods, and with respect to the use of reasonable rate
modifications of such insurance, such agreements to be subject to the approval of the
Insurance Commissioner.
(b) All such agreements shall be submitted in writing to the Insurance Commissioner for his consideration and approval together with such information as he may
reasonably require. Said commissioner shall approve only such agreements as are found
by him to contemplate (1) the use of rates which meet the standards prescribed by
sections 38a-663 to 38a-681, inclusive, and (2) activities and practices that are not unfair,
unreasonable or otherwise inconsistent with the provisions of said sections.
(c) At any time after such agreements are in effect the Insurance Commissioner
may review the practices and activities of the adherents to such agreements and if after
a hearing upon not less than ten days' notice to such adherents he finds that any such
practice or activity is unfair or unreasonable, or is otherwise inconsistent with the provisions of said sections, he may issue a written order to the parties to any such agreement
specifying in what respect such act or practice is unfair or unreasonable or otherwise
inconsistent with such provisions and requiring the discontinuance of such activity or
practice. For good cause, and after hearing upon not less than ten days' notice to the
adherents thereto, the Insurance Commissioner may revoke approval of any such
agreement.
(1969, P.A. 665, S. 8; P.A. 77-614, S. 163, 610; P.A. 80-482, S. 307, 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. 80-482 restored insurance commissioner
and division to prior independent status and abolished the department of business regulation; Sec. 38-201h transferred to
Sec. 38a-670 in 1991.