The Connecticut Insurance Department is warning producers against placing coastal homeowners in the surplus lines market if an admitted insurer has offered to renew their policies.
Doing so violates Connecticut law, and in a recently released bulletin, the state says it has been made aware of several instances where brokers have improperly moved business out of the standard market.
The department vowed to “undertake any and all appropriate action against the Connecticut licensed producer or surplus lines broker” whom they believe to be bypassing the admitted market.
Topics Agencies Excess Surplus Connecticut
Was this article valuable?
Here are more articles you may enjoy.
NYC Halts Construction at 222 Broadway Office-to-Residence Tower 
Viewpoint: Who Gets Credit for Successful Renewal During Soft Reinsurance Market? 
Berry Producer Driscoll’s Sued Over Alleged Greenwashing, Use of Forever Chemicals 
Record-Low Danube Water Levels Leave Boats Beached, Reveal Decades-Old Shipwrecks From This Issue
