Tag: connecticut home insurance

Connecticut flood insurance rates rise, and fewer homes are covered

Logan B.
Flood insurance - Welcome to Connecticut Sign

Though the last 12 months have been essentially free of flooding, there have been several near misses. Even though there have been only 18 Connecticut flood insurance claims filed in the last 12 months ending at the close of June, the rates in the state will still be rising. The rates are causing many state residents to take the risk without coverage for their properties. There have been several recent reminders that storms are fierce and quite close – Hurricane Fiona washed full structures away in Nova Scotia and other…

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Connecticut Department of Insurance focus is on transparency and synergy with the insurance industry

The Connecticut insurance industry is entering a period of change, according to the state’s Department of Insurance, and state officials are looking to make the transition into new laws and regulations as smooth as possible. Regulators from the department have begun reaching out to other regulatory agencies and consumers in order to assist with issues arising from changes made to the industry. The changes come from both state and federal laws that seek to make insurance more accessible to a greater number of people whilst increasing consumer benefits. Speaking at…

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Connecticut regulators make changes to the guidelines for hurricane deductibles for the sake of consumers

The recent events surrounding Augusts’ Hurricane Irene has prompted insurance regulators in Connecticut to take a bold stance in determining how insurers should respond to future hurricanes. The state’s Department of Insurance has begun revising a number of guidelines governing the insurance industry’ sometimes suspect hurricane deductibles. Regulators began reviewing changes to the system shortly after the storm, but only now have they reached a consensus on how far to take them. The Department of Insurance is looking to change the guidelines to make them more consumer friendly. Hurricane deductibles…

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