Managing General Agents and Controlled Insurers. Captive Insurance Companies | Midpage

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Connecticut General Statutes

Part IIa

Managing General Agents and Controlled Insurers. Captive Insurance Companies

38a-90Short title: Managing General Agents Act.38a-90aDefinitions.38a-90bLicensing of managing general agents.38a-90cContractual agreement between insurer and managing general agent. Minimum provisions of the contract.38a-90dDuties of the insurer.38a-90eActs of managing general agent considered to be acts of insurer. Examination of the managing general agent.38a-90fViolations of the Managing General Agents Act. Hearing and notices. Fines. Loss or damage due to noncompliance rehabilitation or liquidation. Civil actions and other relief.38a-90gRegulations.38a-90hUtilization of managing general agent's services. Exceptions.38a-91Definitions.38a-91aInsurers affected.38a-91bControlled insurers. Applicability. Minimum provisions.38a-91cDisclosure to insured by controlling producer. Exception.38a-91dNoncompliance: Remedies allowed.38a-91e to 38a-91jConn. Gen. Stat. § 38a-91e to 38a-91j 38a-91kCaptive insurers: Information to be submitted to commissioner.38a-91l to 38a-91zConn. Gen. Stat. § 38a-91l to 38a-91z 38a-91aaCaptive insurance companies. Definitions.38a-91bbCaptive insurance companies. Licenses. Fees.38a-91ccSame or deceptively similar name prohibited.38a-91ddCapital and surplus requirements.38a-91eePayment of dividends and other distributions.38a-91ffIncorporation and formation. Transfer of domicile.38a-91ggAnnual reports.38a-91hhExaminations of captive insurance companies. Costs. Confidentiality of financial examination workpapers and reports.38a-91iiSuspension, revocation or refusal to renew license. Amendment or modification of a special purpose financial captive insurance company's license.38a-91jjApplicability of state investment laws. Certain loans and investments required to be approved by commissioner. Loans of minimum capital and surplus funds prohibited.38a-91kkReinsurance.38a-91llRating organization.38a-91mmGuaranty association and insolvency fund exclusion.38a-91nnDirect premium receipts tax and assumed reinsurance premium receipts tax. Applicability of tax statutes.38a-91ooApplicability of insurance statutes.38a-91ppConversions and mergers. Approval by commissioner.38a-91qqRegulations.38a-91rrEstablishment of protected cells and incorporated protected cells by a sponsored captive insurance company. Extent of obligations. Recourse.38a-91ssAdditional requirements for a special purpose financial captive insurance company.38a-91ttAdditional requirements for a sponsored captive insurance company licensed as a special purpose financial captive insurance company.38a-91uuDormant captive insurance company. Certificate of dormancy. Capital and surplus.38a-91vvEstablishment of captive insurance company to provide assistance to owners of residential buildings with concrete foundations that have deteriorated due to presence of pyrrhotite. Reports. Public hearings. Applications for assistance decisions. Termination.38a-91wwAgency captive insurance companies. Corporate form.38a-91xxAgency captive insurance companies. Authority to do business.38a-91yyConversion of protected cells and incorporated protected cells by a sponsored captive insurance company.