AN ACT REQUIRING ELECTION OF THE INSURANCE COMMISSIONER.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to establish the Insurance Commissioner as a state-wide elected official and to require that (1) the Insurance Commissioner (A) be elected in accordance with section 9-181 of the general statutes in the same manner as is provided for constitutional officers; (B) be elected to a four-year term; and (C) be first elected in 2006, and then every four years thereafter; (2) candidates for Insurance Commissioner be subject to the same rules on campaigns and fundraising as apply to candidates for state constitutional office; and (3) no exploratory or campaign committee for a candidate for Insurance Commissioner be permitted to accept contributions from: (A) Individuals, firms or corporations holding contracts for five thousand dollars or more with the Insurance Department; or (B) individuals who own a firm or corporation subject to regulation by the Insurance Department or an individual who is a manager, officer, director, partner or employee with managerial responsibilities at such a firm or corporation.

Statement of Purpose:

To require that the Insurance Commissioner be a state-wide elected official.