Connecticut Bulletin Related to Notice to Commissioner of Intent to Discontinue or Substantially Reduce a Line or Subline of Business
On September 19, 2023, Connecticut issued a bulletin that rescinds and replaces Bulletin PC-34 regarding notification to the Commissioner under Connecticut General Statute §38a-44 if an insurer is discontinuing or substantially reducing its writings in a line or subline of property and casualty insurance. The purpose of Connecticut General Statute §38a-44 is to permit the Commissioner time to evaluate the impact on the market of proposals by one or more companies to discontinue or substantially reduce writings in a line or subline of insurance in Connecticut. See attachment for full details.
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