Substitute House Bill No. 5373, also known as Public Act No. 26-69, introduces significant revisions to the insurance statutes, effective October 1, 2026. Key amendments include the repeal of Section 38a-26, which previously outlined the service of process on the commissioner, now allowing service via electronic mail alongside traditional methods. The bill mandates that the commissioner send a copy of the process to the last-known electronic mail address of the person being served and stipulates that no judgment by default can be granted until 45 days after service. Additionally, Section 38a-774 is amended to permit notice of license suspension or revocation via personal delivery or electronic mail, and it clarifies the conditions under which the licenses of a firm’s principals or officers may be revoked. The bill also updates various references to ensure consistency in legal terminology, particularly changing mentions of the "judicial district of Hartford" to the "judicial district of New Britain."

Further changes include the establishment of new procedures for Health and Welfare fee assessments, requiring the Insurance Commissioner to submit a proposed fee statement by December 1st each year, with a final fee statement due by January 1st. The bill also modifies the timeline for tax statements and introduces new requirements for premium billing notices, allowing for electronic delivery. It enhances the handling of insurance fraud investigations and protects the confidentiality of personal information in life settlements. Additionally, the bill updates definitions related to insurance obligations and reinsurance agreements, ensuring policyholders are informed during transfers of insurance obligations. Overall, these amendments aim to modernize communication methods, enhance transparency, and improve operational efficiency within the insurance regulatory framework.

Statutes affected:
Raised Bill:
INS Joint Favorable Substitute:
File No. 241:
Public Act No. 26-69: