
Important Information about the New Connecticut Coastline
CDS recently spoke to the Connecticut Department of Insurance about its new coastline requirements and would like to pass along some important information regarding the RiskMeter approved CT coastline.
It has been brought to our attention that all carriers who write residential business in Connecticut should be using either RiskMeter's CT coastline report or another CT DOI approved vendor report. Carriers should not be using pre-existing coastal products that do not comply with what the department has agreed to. There may be no deviations or variations made and companies will be subject to market conduct reviews to ensure that they are in compliance.
Currently, it's not required to write commercial policies using the new CT DOI coastline, but it is encouraged. Also, we are not sure if this applies to non-admitted carriers. It has been confirmed though if any carrier has not been using the approved CT Department of insurance coastline report on residential properties, they will be considered out of compliance with the department's guidelines. In addition, the CT DOI coastline still needs to be used even if a carrier does not require storm shutters as part of their coastal guidelines.
If anyone has questions or concerns, please contact Jamie Munson at 860.854.6125 or click here to email us.
To view the entire newsletter, please go to: http://www.riskmeter.com/RiskMeter/newsletters/RiskMeter_July07.htm

