With Legislature-enacted roots dating to 1865, the Connecticut Insurance Department is marking 150 years of service with a leap into the future.
Last month, the department launched its new monthly online newsletter directed toward consumers, called “Insurance Matters.” Instant e-alerts also are now available.
The department envisioned typical queries the newsletter will address as:
- How long does my health insurer have to pay my claims?
- Does my homeowner”™s insurance cover damage from the ice dams this winter?
- Am I eligible for discounts on my auto insurance premium?
The newsletter is “designed to help inform and educate Connecticut consumers about all things insurance.”
“Each new issue will feature timely topics and tips,” said department Commissioner Katharine L. Wade in a statement. “We know having the proper coverage for your property and your family and understanding that coverage is very important. The ”˜Insurance Matters”™ newsletter is one more resource the department offers as part of our mission of consumer protection, outreach and education.”
The monthly newsletter also promises a look at the department”™s century-and-a-half history via what it termed a “dip into the vault this year as the department marks the 150th year of insurance regulation in Connecticut.” The General Assembly created the Office of the Insurance Commissioner, the forerunner to the department, in 1865.
The department said, on average, its dealings with the insurance industry bring $100 million annually to state coffers in fees, premium taxes, fines and other revenue sources. The money”™s uses include childhood immunization and other state programs. It also regulates the insurance industry in the state and in that role it said it annually recovers an average $4 million in refunds to consumers.
“Insurance Matters” will be posted on the department”™s website. Consumers can also subscribe by signing up for department e-alerts.
