Connecticut § 38a-410 Loss and loss expense reserve.

Connecticut Statutes

§ 38a-410 — Loss and loss expense reserve.

Connecticut § 38a-410

Title 38aInsurance

Ch. 700aTitle Insurance

This text of Connecticut § 38a-410 (Loss and loss expense reserve.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 38a-410 (2026).

Text

(a)All title insurers licensed in this state shall establish and maintain reserves against unpaid losses and loss expenses.

(b)Upon receiving written notice from or on behalf of the insured of a title defect in or lien or adverse claim against the title of the insured that may result in a loss or cause expense to be incurred in the proper disposition of the claim, the title insurer shall determine the amount to be added to the reserve, which amount shall reflect a careful estimate of the loss or loss expense likely to result by reason of the claim.

(c)Reserves required under this section may be revised from time to time and shall be redetermined at least once each year.

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(a) All title insurers licensed in this state shall establish and maintain reserves against unpaid losses and loss expenses. (b) Upon receiving written notice from or on behalf of the insured of a title defect in or lien or adverse claim against the title of the insured that may result in a loss or cause expense to be incurred in the proper disposition of the claim, the title insurer shall determine the amount to be added to the reserve, which amount shall reflect a careful estimate of the loss or loss expense likely to result by reason of the claim. (c) Reserves required under this section may be revised from time to time and shall be redetermined at least once each year.