Connecticut Warns Agents over Surplus Lines Placements

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 state law. In a recently released bulletin, the state says it has been made aware of several instances where brokers and agents 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.

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Source: Connecticut Insurance Department

Topics Agencies Excess Surplus Connecticut