Connecticut Seal

General Assembly

 

Proposed Bill No. 530

 

January Session, 2009

 

LCO No. 1501

   

Referred to Committee on Insurance and Real Estate

 

Introduced by:

 

SEN. CRISCO, 17th Dist.

 

AN ACT ESTABLISHING A STATE NATURAL CATASTROPHE FUND.

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

That title 38a of the general statutes be amended to establish a state natural catastrophe fund to offer reinsurance to the private insurance market at rates that reflect risk.

Statement of Purpose:

To establish a mechanism to address costs and expenses arising from natural catastrophes.