Connecticut § 38a-91qq Regulations.

Connecticut Statutes

§ 38a-91qq — Regulations.

Connecticut § 38a-91qq

Title 38aInsurance

Ch. 698Insurers

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Bluebook

Conn. Gen. Stat. § 38a-91qq (2026).

Text

The commissioner may adopt regulations, in accordance with chapter 54, as are necessary to carry out the provisions of sections 38a-91aa to 38a-91uu, inclusive, and sections 38a-91ww and 38a-91xx and to establish standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a pure captive insurance company, an industrial insured captive insurance company or a sponsored captive insurance company, except that until such regulations are approved, the commissioner may approve the coverage of such risks by a pure captive insurance company, an industrial insured captive insurance company or a sponsored captive insurance company.

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The commissioner may adopt regulations, in accordance with chapter 54, as are necessary to carry out the provisions of sections 38a-91aa to 38a-91uu, inclusive, and sections 38a-91ww and 38a-91xx and to establish standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a pure captive insurance company, an industrial insured captive insurance company or a sponsored captive insurance company, except that until such regulations are approved, the commissioner may approve the coverage of such risks by a pure captive insurance company, an industrial insured captive insurance company or a sponsored captive insurance company.

Legislative History

(P.A. 08-127, S. 17; Oct. Sp. Sess. P.A. 11-1, S. 69; P.A. 22-118, S. 446.) History: P.A. 08-127 effective January 1, 2009; Oct. Sp. Sess. P.A. 11-1 added authority for commissioner to adopt regulations to carry out the provisions of Secs. 38a-91aa to 38a-91tt and made a technical change, effective July 1, 2012; P.A. 22-118 replaced reference to Sec. 38a-91tt with reference to Sec. 38a-91uu, added reference to Secs. 38a-91ww and 38a-91xx and to industrial insured captive insurance company and sponsored captive insurance company, and made a technical change, effective July 1, 2022.