Sec. 38a-675. (Formerly Sec. 38-201m). Records and information to be maintained. Approval of rules and statistical plans re loss and expense experience.
Sec. 38a-675. (Formerly Sec. 38-201m). Records and information to be maintained. Approval of rules and statistical plans re loss and expense experience. (a)
Every insurer, rating organization or advisory organization and every group, association
or other organization of insurers which engages in joint underwriting or joint reinsurance
shall maintain reasonable records, of the type and kind reasonably adapted to its method
of operation, of its experience or the experience of its members and of the data, statistics
or information collected or used by it in connection with the rates, rating plans, rating
systems, underwriting rules, policy or bond forms, surveys or inspections made or used
by it so that such records will be available at all reasonable times to enable the Insurance
Commissioner to determine whether such organization, insurer, group or association,
and, in the case of an insurer or rating organization, every rate, rating plan or rating
system made or used by it, complies with the provisions of sections 38a-663 to 38a-696, inclusive, applicable to it. The maintenance of such records in the office of a licensed
rating organization or advisory organization of which an insurer is a member or subscriber will be sufficient compliance with this section for any insurer maintaining membership or subscribership in such organization, to the extent that the insurer uses the
rates, rating plans, rating systems or recommendations of such organization.
(b) The Insurance Commissioner shall approve reasonable rules and statistical
plans, reasonably adapted to each of the rating systems used, and which shall thereafter
be used by each admitted insurer in the recording and reporting of its loss and country-wide expense experience, in order that the experience of all insurers may be made available at least annually. Such rules and plans may also provide for the recording and
reporting of expense experience items which are specially applicable to this state and
are not susceptible of determination by a prorating of country-wide expense experience.
In approving such rules and plans, the commissioner shall give due consideration to the
rating systems in use in this state and in other states. No insurer shall be required to
record or report its loss experience on a classification basis that is inconsistent with
the rating system used by it provided that with respect to private passenger nonfleet
automobile insurance, the commissioner may require that claims and loss experience
data be allocated, compiled and reported by town. The commissioner may designate
one or more rating organizations or other agencies to assist him in gathering such experience and making compilations thereof, and such compilations shall be made available,
subject to reasonable rules promulgated by the commissioner, to insurers and rating
organizations.
(1969, P.A. 665, S. 13; P.A. 77-614, S. 163, 610; P.A. 80-482, S. 311, 348; P.A. 82-353, S. 9; P.A. 01-174, S. 13.)
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; P.A. 82-353 made several
technical changes to the section and amended Subsec. (b) to provide that insurer's claims and loss experience data re private
passenger nonfleet auto insurance may be compiled and reported by town; Sec. 38-201m transferred to Sec. 38a-675 in
1991; P.A. 01-174 substituted reference to Sec. 38a-696 for Sec. 38a-697 in Subsec. (a).