The Connecticut Insurance Department has added a portal to its website that will enable licensees to conduct online financial transactions with the agency.
Going forward, all producer requests for letters of certification and clearance letters will be processed through the portal, with the $26 fee made payable via credit card. The department stated that this will reduce the turnaround time from 10 business days to three business days. The portal will also become the sole transaction vehicle for the annual $450 assessment for licensed bail bondsmen.
“We are very pleased to offer this business-friendly tool, a direct result of the LEAN processes we have adopted to achieve greater regulatory efficiency,” said Insurance Commissioner Katharine L. Wade. “The new credit card portal significantly reduces the turnaround time for certain financial transactions, eliminates inefficient paper processing and postage costs, frees up staff for other duties and enhances the interactions our licensees have with their regulators.”