Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (b) of section 38a-323 of the general statutes is repealed and the following is substituted in lieu thereof:
(b) (1) On or before September 30, 1987, a premium billing notice for any policy subject to the requirements of sections 38a-663 to 38a-697, inclusive, except a workers' compensation policy, shall be mailed or delivered to the insured by the insurer or its agent not less than forty-five days in advance of the renewal date or the anniversary date of the policy. On or after October 1, 1987, such notice shall be so mailed or delivered to the insured not less than thirty days in advance of the policy's renewal or anniversary date. The premium billing notice shall be based on the rates and rules applicable to the ensuing policy period. The provisions of this subsection shall apply to any such policy for which the annual premium was less than fifty thousand dollars for the preceding annual policy period.
(2) FOR PURPOSES OF ANY COMMERCIAL RISK POLICY SUBJECT TO THE REQUIREMENTS OF SECTIONS 38a-663 TO 38a-697, INCLUSIVE, EXCEPT A WORKERS' COMPENSATION POLICY, THE MAILING OR DELIVERY OF A PREMIUM BILLING NOTICE BY AN INSURER'S MANAGING GENERAL AGENT, IN ACCORDANCE WITH THE PROVISIONS OF SUBDIVISION (1) OF THIS SUBSECTION, SHALL CONSTITUTE COMPLIANCE BY SUCH INSURER WITH SAID SUBDIVISION.
Sec. 2. Section 38a-323 of the general statutes is amended by adding subsection (g) as follows:
(NEW) (g) For purposes of any market conduct examination performed pursuant to section 38a-15, the insurance commissioner may find an insurer to be in compliance with the requirements of this section upon a determination that such insurer made a good faith effort to so comply.
Approved May 24, 1996. Effective October 1, 1996.[footer.htm]