Substitute House Bill No. 6437 proposes significant amendments to existing insurance laws, set to take effect on October 1, 2025. The bill repeals Sections 38a-26, 38a-774, and 38a-720e, replacing them with updated provisions that modernize the service of process and licensing procedures. Notably, the bill allows for service of process to be sent via electronic mail, requiring the commissioner to send a copy to the last-known email address of the individual being served. It also streamlines the process for license suspension or revocation, enabling the commissioner to impose fines and conduct hearings, while ensuring that if a firm's license is revoked, the licenses of its principals may also be affected unless they can prove they were not at fault.

Additional amendments include the revision of Section 38a-708, which now mandates that insurance companies report the termination of an agent's appointment for cause within thirty days, and the repeal of Section 38a-356, allowing authorized employees to request information regarding investigations into motor vehicle losses or fraud. The bill also eliminates the annual reporting requirement for fraud investigations, ensuring that shared information remains confidential unless needed for legal proceedings. Lastly, it updates references to the "judicial district of Hartford" to the "judicial district of New Britain" in multiple statutes. Overall, these changes aim to enhance communication, streamline processes, and reduce administrative burdens within the insurance sector.

Statutes affected:
Raised Bill: 4-182, 51-344b
INS Joint Favorable: 4-182, 51-344b
File No. 64: 4-182, 51-344b