On February 16th, Big I CT board member Danielle Brown testified in support of excess lines mondernization legislation before the Connecticut General Assembly Committee on Insurance and Real Estate. The legislation would improve the customer and agent experience by eliminating the requirement to obtain three declinations from admitted carriers on renewal.
"In order to place and renew coverage in the E&S market, an agent must first have coverage declined by three admitted insurance carriers. In practice, this is a significant time and paperwork burden on agents, particularly on renewals where the agent has already once received the necessary declinations. Eliminating the requirement to obtain three declinations from admitted carriers when renewing a policy will streamline the process for obtaining coverage and allow agents to focus on what matters most – helping their customers."
The passage of this bill is a key legislative priority for Big I CT. The committee will next consider the bill and decide whether or not to report (advance) it.
Read the full testimony here