(a) All domestic insurance companies and other domestic entities subject to taxation under chapter 207 shall, in accordance with section 38a-48, annually pay to the Insurance Commissioner, for deposit in the Insurance Fund established under section 38a-52a, an amount equal to:
(1) The actual expenditures made by the Insurance Department during each fiscal year, and the actual expenditures made by the Office of the Healthcare Advocate, including the cost of fringe benefits for department and office personnel as estimated by the Comptroller;
(2) The amount appropriated to the Office of Health Strategy from the Insurance Fund for the fiscal year, including the cost of fringe benefits for office personnel as estimated by the Comptroller, which shall be reduced by the amount of federal reimbursement received for allowable Medicaid administrative expenses;
(3) The expenditures made on behalf of the department and said offices from the Capital Equipment Purchase Fund pursuant to section 4a-9 for such year, but excluding such estimated expenditures made on behalf of the Health Systems Planning Unit of the Office of Health Strategy; and
(4) The amount appropriated to the Department of Aging and Disability Services for the fall prevention program established in section 17a-303a from the Insurance Fund for the fiscal year.
(b) The expenditures and amounts specified in subdivisions (1) to (4), inclusive, of subsection (a) of this section shall exclude expenditures paid for by fraternal benefit societies, foreign and alien insurance companies and other foreign and alien entities under sections 38a-49 and 38a-50.
(c) Payments shall be made by assessment of all such domestic insurance companies and other domestic entities calculated and collected in accordance with the provisions of section 38a-48. Any such domestic insurance company or other domestic entity aggrieved because of any assessment levied under this section may appeal therefrom in accordance with the provisions of section 38a-52.
(P.A. 80-482, S. 280, 345, 348; P.A. 82-26, S. 1; 82-456, S. 1, 2; P.A. 85-185, S. 1, 3; P.A. 86-265, S. 1, 2; P.A. 87-515, S. 3, 4; P.A. 89-165, S. 1, 3; P.A. 90-148, S. 25, 34; 90-243, S. 20; June Sp. Sess. P.A. 91-14, S. 12, 30; June Sp. Sess. P.A. 01-9, S. 66, 131; P.A. 05-102, S. 3; Sept. Sp. Sess. P.A. 09-5, S. 53; P.A. 14-116, S. 1; 14-217, S. 69; June Sp. Sess. P.A. 17-2, S. 312; P.A. 18-91, S. 64; 18-169, S. 36; P.A. 19-157, S. 88; June Sp. Sess. P.A. 21-2, S. 295.)
History: P.A. 82-26 provided that the comptroller rather than administrative services department estimate fringe benefit costs for insurance department personnel; P.A. 82-456 increased the percentage of expenditures of the insurance department paid by companies from 70% to 100% and eliminated the 8% of taxes and charges option, replacing it with various dollar amounts per fiscal year; P.A. 85-185 provided the method of calculation of the proper amount for the fiscal year commencing July 1, 1984; P.A. 86-265 added Subsec. (b), providing for an assessment for the fiscal year ending June 30, 1987, covering the total expenditures of the department in that year, and amended Subsec. (a) to provide that the amount assessed pursuant to Subsec. (b) shall be used as the basis for the calculation of the assessments for the following years; P.A. 87-515 provided that domestic insurance companies shall be assessed for the actual expenditures made by the department during each fiscal year, and removed prior limitations on the total assessment amount; P.A. 89-165 provided that domestic insurance companies shall be assessed for the expenditures made on behalf of the department from the capital equipment purchase fund; P.A. 90-148 inserted reference to Sec. 38-53b as a technical change related to certain procedural amendments occurring in said Sec. 38-53b; P.A. 90-243 inserted references to “foreign” and “alien” insurance companies to replace references to “nonresident” and “foreign” companies; Sec. 38-53a transferred to Sec. 38a-47 in 1991; June Sp. Sess. P.A. 91-14 deleted reference to deposit general fund and substituted reference to insurance fund deposits; June Sp. Sess. P.A. 01-9 added provisions re expenditures by the Office of the Managed Care Ombudsman, effective July 1, 2001; P.A. 05-102 renamed the Office of the Managed Care Ombudsman the Office of the Healthcare Advocate; Sept. Sp. Sess. P.A. 09-5 designated provision re expenditures from Capital Equipment Purchase Fund as Subdiv. (1) and added Subdiv. (2) re payment for amount appropriated to Department of Social Services for fall prevention program, effective October 5, 2009; P.A. 14-116 changed “Department of Social Services” to “Department on Aging” in Subdiv. (2), effective June 6, 2014; P.A. 14-217 made identical change as P.A. 14-116, effective June 13, 2014; June Sp. Sess. P.A. 17-2 replaced “Department on Aging” with “Department of Social Services” in Subdiv. (2), effective October 31, 2017; P.A. 18-91 designated existing provisions re annual payment to Insurance Commissioner as Subsec. (a) and amended same by deleting former Subdiv. designators (1) and (2), designating existing provisions re actual expenditures as new Subdiv. (1), adding new Subdiv. (2) re amount appropriated to Office of Health Strategy, designating existing provisions re expenditures made from Capital Equipment Purchase Fund as Subdiv. (3) and adding provision re estimated expenditures made on behalf of the Health Systems Planning Unit in Subdiv. (3), and designating existing provisions re fall prevention program as Subdiv. (4), designated existing provisions re expenditures paid for by fraternal benefit societies and foreign and alien insurance entities as Subsec. (b) and amended same by adding provision re expenditures and amounts excluded, designated existing provisions re payments made by assessment as Subsec. (c), and made technical and conforming changes, effective May 14, 2018; P.A. 18-169 replaced “Department of Social Services” with “Department of Rehabilitation Services” in Subdiv. (2), effective June 14, 2018; P.A. 19-157 amended Subsec. (a)(4) by replacing “Department of Rehabilitation Services” with “Department of Aging and Disability Services”; June Sp. Sess. P.A. 21-2 amended Subsec. (a)(2) by requiring amount appropriated be reduced by amount of federal reimbursement received for allowable Medicaid administrative expenses, effective January 1, 2022.
Structure Connecticut General Statutes
Section 38a-52. (Formerly Sec. 38-54). - Appeal from assessment.
Section 38a-52a. - Insurance Fund established.
Section 38a-54. - Audited reports.
Section 38a-55. - Hypothecation of assets.
Section 38a-56. (Formerly Sec. 38-19). - False returns to commissioner.
Section 38a-57. (Formerly Sec. 38-26a). - Retention of records and assets in state.
Section 38a-58. (Formerly Sec. 38-40). - Change of location of domestic insurance company.
Section 38a-58b. - Definitions.
Section 38a-58c. - Applicability of state laws to alien insurer's United States branch.
Section 38a-58e. - Annual and quarterly statements by United States branch.
Section 38a-58g. - Domestication of alien insurer's United States branch.
Section 38a-60. (Formerly Sec. 38-27a). - Continuity of management during national emergencies.
Section 38a-61. (Formerly Sec. 38-134). - Limitation of use of power of attorney.
Section 38a-63. - Limitation of liability of director of mutual insurance company.
Section 38a-64. (Formerly Sec. 38-41). - Donations by domestic mutual companies.
Section 38a-65. (Formerly Sec. 38-48). - Disposition of unclaimed dividends of insolvent company.
Section 38a-69. - Scope of provisions.
Section 38a-70. - Accounting standards.
Section 38a-71. - Minimum asset requirements. Minimum capital and minimum surplus requirements.
Section 38a-72. (Formerly Sec. 38-93). - Financial requirements to license an insurance company.
Section 38a-72a. - Regulations.
Section 38a-73. (Formerly Sec. 38-110). - Limitation of risks.
Section 38a-76. (Formerly Sec. 38-25). - Reserves.
Section 38a-77. (Formerly Sec. 38-130). - Valuation of reserve.
Section 38a-78a. - NAIC Valuation Manual. Operative date changes. Requirements.
Section 38a-79. (Formerly Sec. 38-26). - Valuation of securities.
Section 38a-79a. - Short title: Standard Valuation Law.
Section 38a-81. (Formerly Sec. 38-132). - Sale of property taken for debts.
Section 38a-82. (Formerly Sec. 38-133). - Improvement of real estate.
Section 38a-84. (Formerly Sec. 38-47). - Securities to be delivered to receiver.
Section 38a-85a. - Certification as a reinsurer. Regulations.
Section 38a-87. - Qualified United States financial institutions.
Section 38a-88. - Regulations.
Section 38a-88b. - Applicability of section 38a-88a.
Section 38a-89. - Reinsurance agreements affected.
Section 38a-90. - Short title: Managing General Agents Act.
Section 38a-90a. - Definitions.
Section 38a-90b. - Licensing of managing general agents.
Section 38a-90d. - Duties of the insurer.
Section 38a-90g. - Regulations.
Section 38a-90h. - Utilization of managing general agent's services. Exceptions.
Section 38a-91. - Definitions.
Section 38a-91a. - Insurers affected.
Section 38a-91aa. - Captive insurance companies. Definitions.
Section 38a-91b. - Controlled insurers. Applicability. Minimum provisions.
Section 38a-91bb. - Captive insurance companies. Licenses. Fees.
Section 38a-91c. - Disclosure to insured by controlling producer. Exception.
Section 38a-91cc. - Same or deceptively similar name prohibited.
Section 38a-91d. - Noncompliance: Remedies allowed.
Section 38a-91dd. - Capital and surplus requirements.
Section 38a-91ee. - Payment of dividends and other distributions.
Section 38a-91ff. - Incorporation and formation. Transfer of domicile.
Section 38a-91gg. - Annual reports.
Section 38a-91k. - Captive insurers: Information to be submitted to commissioner.
Section 38a-91kk. - Reinsurance.
Section 38a-91ll. - Rating organization.
Section 38a-91mm. - Guaranty association and insolvency fund exclusion.
Section 38a-91oo. - Applicability of insurance statutes.
Section 38a-91pp. - Conversions and mergers. Approval by commissioner.
Section 38a-91qq. - Regulations.
Section 38a-91uu. - Dormant captive insurance company. Certificate of dormancy. Capital and surplus.
Section 38a-91ww. - Agency captive insurance companies. Corporate form.
Section 38a-91xx. - Agency captive insurance companies. Authority to do business.
Section 38a-92. - Financial Guaranty Insurance Act, generally.
Section 38a-92a. - Definitions.
Section 38a-92b. - Licensing of financial guaranty insurance corporations. Reinsurance.
Section 38a-92c. - Contingency reserves.
Section 38a-92d. - Reserves against unpaid losses and loss expense.
Section 38a-92e. - Unearned premium reserve.
Section 38a-92f. - Disclosures in prospectus or other offering document.
Section 38a-92g. - Financial guaranty insurance transactions. Exceptions.
Section 38a-92h. - Copies of relevant materials.
Section 38a-92i. - Net liability. Kinds of obligations.
Section 38a-92j. - Limiting of exposure to loss on any one risk.
Section 38a-92m. - Credit for reinsurance as an asset or as a reduction from liability, when.
Section 38a-92n. - Filing of policy forms and amendments with commissioner.
Section 38a-102. - Investments. Derivative financial transactions. Regulations.
Section 38a-102a. - Nonadmitted investment assets. Divestiture order, notice and hearing.
Section 38a-102b. - Definitions.
Section 38a-102c. - Investments of admitted assets. Limitations.
Section 38a-102d. - Affiliate relationships in the investment of admitted assets. Limitations.
Section 38a-102e. - Loan or investment prohibition.
Section 38a-102f. - Prohibition of compensation for negotiating a loan.
Section 38a-102g. - Investments of foreign and alien insurers.
Section 38a-102h. - Policies and procedures re use of special knowledge or information.
Section 38a-102i. - Exceptions.
Section 38a-117. (Formerly Sec. 38-68a). - Insider trading of equity securities. Definitions.
Section 38a-120. (Formerly Sec. 38-68d). - Sales of securities restricted.
Section 38a-121. (Formerly Sec. 38-68e). - Excepted transactions.
Section 38a-122. (Formerly Sec. 38-68f). - Foreign or domestic arbitrage transactions.
Section 38a-123. (Formerly Sec. 38-68g). - Securities of certain companies not covered.
Section 38a-124. (Formerly Sec. 38-68h). - Regulations.
Section 38a-129a. - Presumption of control.
Section 38a-132. (Formerly Sec. 38-39d). - Approval of acquisitions. Hearing. Expenses.
Section 38a-133. (Formerly Sec. 38-39e). - Exemptions.
Section 38a-134. (Formerly Sec. 38-39f). - Nonvotable securities. Injunctive relief.
Section 38a-137. (Formerly Sec. 38-39i). - Confidentiality of information.
Section 38a-138. (Formerly Sec. 38-39j). - Regulations.
Section 38a-139. (Formerly Sec. 38-39k). - Appeals.
Section 38a-140. (Formerly Sec. 38-39l). - Remedial and penal provisions.
Section 38a-147. (Formerly Sec. 38-37a). - Solicitation of proxies.
Section 38a-149. (Formerly Sec. 38-38). - Interlocking directorate.
Section 38a-150. (Formerly Sec. 38-39). - Monopoly. Complaint and hearing. Cease and desist order.
Section 38a-151. (Formerly Sec. 38-34). - Reduction of capital stock.
Section 38a-153. (Formerly Sec. 38-42). - Merger or consolidation of companies.
Section 38a-156. - Definitions.
Section 38a-156b. - Mutual holding company requirements.
Section 38a-156c. - Amendments to articles of incorporation and plan of reorganization.
Section 38a-156e. - Requirements of reorganizing mutual life insurer. Report.
Section 38a-156f. - Voting stock offerings.
Section 38a-156g. - Restrictions on stock offerings and stock ownership.
Section 38a-156k. - Proceedings and actions.
Section 38a-156m. - Regulations.
Section 38a-156n to 38a-156q. - Reserved for future use.
Section 38a-156r. - Definitions.
Section 38a-156s. - Division of domestic insurer. Plan of division. Amendment and abandonment.
Section 38a-156t. - Plan of division. Approval by interest holders and governors.
Section 38a-156v. - Certificate of division.
Section 38a-156w. - Effect of division.
Section 38a-156x. - Responsibility and liability of resulting insurers.
Section 38a-156y. - Appraisal rights.
Section 38a-156z. - Regulations.
Section 38a-160. (Formerly Sec. 38-290). - Exceptions.
Section 38a-161. (Formerly Sec. 38-291). - Definitions.
Section 38a-162. (Formerly Sec. 38-292). - License required. Expiration. Fee. Required information.
Section 38a-165. (Formerly Sec. 38-295). - Records of licensee.
Section 38a-166. (Formerly Sec. 38-296). - Regulations.
Section 38a-167. (Formerly Sec. 38-297). - Insurance premium finance agreement requirements.
Section 38a-168. (Formerly Sec. 38-298). - Service charge.
Section 38a-169. (Formerly Sec. 38-299). - Delinquency charge.
Section 38a-170. (Formerly Sec. 38-300). - Cancellation of insurance contract on default of insured.