Senate Bill No. 1069
Public Act No. 01-139
AN ACT CONCERNING MINOR CHANGES TO THE INSURANCE STATUTES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (b) of section 38a-26 of the general statutes is repealed and the following is substituted in lieu thereof:
(b) The commissioner shall immediately send by registered or certified mail one copy of the process to the person to be served as follows: (1) To that person's last-known principal place of business, residence, or post-office address, or (2) if a foreign insurance company, to the secretary of the company or designee of the company, or (3) if an alien insurance company, to the resident manager, if any, in this country, or (4) if a fraternal benefit society, to the secretary or corresponding officer of the society.
Sec. 2. Section 38a-53a of the general statutes is repealed and the following is substituted in lieu thereof:
Each domestic, foreign and alien insurer authorized to transact insurance in this state shall annually on or before March first of each year, file electronically with the National Association of Insurance Commissioners a copy of its annual statement convention blank, along with such additional filings as prescribed by the commissioner for the preceding year. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page and the actuarial certification. Each such insurer shall also file with the National Association of Insurance Commissioners a copy in [diskette] electronic form of any information so filed with the National Association of Insurance Commissioners [which] that was prepared in accordance with guidelines as required by the Insurance Commissioner. Any amendments and addendums to the annual statement or other financial statements subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners. Foreign insurers that are domiciled in a state [which] that has a law substantially similar to the provisions of this section shall be deemed in compliance with this section. Upon written application of any insurer domiciled in this state [which] that transacts no insurance business in another state, the commissioner may grant an exemption from compliance with this section if compliance would constitute a financial or organizational hardship upon the insurer. All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the insurance department by the National Association of Insurance Commissioners' Insurance Regulatory Information System are confidential and may not be disclosed or otherwise made public by the department.
Sec. 3. Subsection (e) of section 38a-88a of the general statutes is repealed and the following is substituted in lieu thereof:
(e) The credit allowed by this section may be claimed only with respect to a subject insurance business which (1) occupies the new facility for which an eligibility certificate has been issued by the [Insurance Commissioner] commissioner and with respect to which the certification required under subsection (g) of this section has been issued as its home office, and (2) employs not less than twenty-five per cent of its total work force in new jobs.
Sec. 4. Subsection (a) of section 38a-153 of the general statutes is repealed and the following is substituted in lieu thereof:
(a) Any domestic insurance company may, with the prior approval of the commissioner, merge or consolidate with one or more other domestic insurance companies or with one or more foreign or alien insurance companies [, which are] that are either authorized to do an insurance business in this state, [if] or are not authorized to do an insurance business in this state provided the resulting corporation is a corporation of this state and the laws of the other jurisdictions so permit. Prior to [the approval of] approving any such merger or consolidation, the commissioner may hold a hearing upon the fairness of the terms and conditions of the proposed merger or consolidation after such notice as, under the circumstances, [he] the commissioner deems appropriate and shall [satisfy himself] find that the interests of the policyholders and the interests of the stockholders, if any, are protected. Such merger or consolidation may be effected either in accordance with the provisions of the general statutes relating to merger or consolidation of corporations organized under the general statutes or in accordance with any provisions in the charters of the companies merging or consolidating relating to merger or consolidation. All expenses in connection with the proceedings shall be borne by the resulting corporation.
Sec. 5. Section 38a-363 of the general statutes is repealed and the following is substituted in lieu thereof:
As used in sections 38a-17, 38a-19 and 38a-363 to 38a-388, inclusive:
(a) "Injury" means bodily injury, sickness or disease, including death resulting therefrom, accidentally caused and arising out of the ownership, maintenance or use of a private passenger motor vehicle or a vehicle with a commercial registration, as defined in subdivision (12) of section 14-1.
(b) "Insurer" or "insurance company" includes a self-insurer and a person having the rights and obligations of an insurer under sections 38a-19 and 38a-363 to 38a-388, inclusive, as provided by section 38a-371.
(c) "Occupying" a vehicle means to be in or upon or entering into or alighting from the vehicle.
(d) "Owner" of a private passenger motor vehicle means the person who owns the legal title thereto, except where the motor vehicle is the subject of a security agreement or lease with option to purchase with the debtor or lessee having the right to possession, in which event "owner" means the debtor or lessee.
(e) "Private passenger motor vehicle" means a: (1) Private passenger type automobile; (2) station-wagon-type automobile; (3) camper-type motor vehicle; (4) high-mileage-type motor vehicle, as defined in section 14-1; (5) truck-type motor vehicle with a load capacity of fifteen hundred pounds or less, registered as a passenger motor vehicle, as defined in said section, or as a passenger and commercial motor vehicle, as defined in said section, or used for farming purposes; or (6) a vehicle with a commercial registration, as defined in subdivision (12) of said section. It does not include a motorcycle or motor vehicle used as a public or livery conveyance.
(f) "Relative" of a person means one who is related to the person by blood, marriage or adoption.
(g) "Use" of a motor vehicle includes the loading or unloading thereof.
(h) "Pedestrian" means any person not occupying a vehicle of any type other than a vehicle designed to be drawn or driven by muscular power.
Sec. 6. Subsection (a) of section 38a-947 of the general statutes is repealed and the following is substituted in lieu thereof:
(a) All unclaimed funds subject to distribution remaining in the liquidator's hands when the liquidator is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the State Treasurer, and shall be paid without interest except in accordance with section 38a-944 to the person entitled thereto or that person's legal representative upon proof satisfactory to the State Treasurer of [his] the person's right thereto. Any amount on deposit not claimed within six years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited in the General Fund. [The] Alternatively, the liquidator may elect to apply to the court for authority to hold the unclaimed funds subject to distribution for a period of two years. Thereafter, any unclaimed funds may be distributed to approved claimants who have previously received a distribution, if it is economically feasible for the liquidator to make the distribution, or the liquidator may apply to the court for permission for the funds to be held by the State Treasurer in an account on behalf of the commissioner in [his] the commissioner's capacity as receiver for the purpose and use of defraying the costs and expenses of administration of other insolvent insurers for which there are insufficient assets to fund the costs and expenses of administration.
Sec. 7. Subdivision (12) of subsection (a) of section 38a-226c of the general statutes is repealed and the following is substituted in lieu thereof:
(12) Each utilization review company shall annually file with the commissioner (A) the names of all managed care organizations, as defined in section 38a-478, that the utilization review company services in Connecticut, (B) any utilization review services for which the utilization review company has contracted out for services and the name of such company providing the services, and (C) the number of utilization review determinations not to certify an admission, service, procedure or extension of stay and the outcome of such determination upon appeal within the utilization review company. Determinations related to mental or nervous conditions, as defined in section 38a-514, shall be reported separately from all other determinations reported under this subdivision.
Approved June 28, 2001