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Current as of June 28, 2021 | Updated by FindLaw Staff
(a) The net retained liability of a title insurer for a single risk on property located in this state, whether assumed directly or as reinsurance, may not exceed fifty per cent of the sum of its total surplus to policyholders and reserve, less the value assigned to title plants, as shown in the most recent annual statement of the insurer on file in the office of the commissioner.
(b) The commissioner may waive the limitation of this section for a particular risk upon application of the insurer and for good cause shown.
Cite this article: FindLaw.com - Connecticut General Statutes Title 38A. Insurance § 38a-406. Single risk limitation - last updated June 28, 2021 | https://codes.findlaw.com/ct/title-38a-insurance/ct-gen-st-sect-38a-406.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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