Connecticut General Statutes 38a-330 – Transfer of policy to affiliate due to merger or acquisition. Notice
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Each property and casualty insurer that, at the time of policy renewal, transfers any policy to an affiliate as a result of a merger or acquisition of control, shall provide notice to policyholders at least sixty days prior to the effective date of transfer. Such transfer shall not require a nonrenewal or cancellation of the policy.
Terms Used In Connecticut General Statutes 38a-330
- Policy: means any document, including attached endorsements and riders, purporting to be an enforceable contract, which memorializes in writing some or all of the terms of an insurance contract. See Connecticut General Statutes 38a-1