§ 38a-91kk

(a) Any captive insurance company may assume reinsurance from any other insurer.(b) A captive insurance company may only take credit for the reinsurance of a risk or portion of risk ceded to reinsurers that comply with the provisions of sections 38a-85 to 38a-88, inclusive, unless the commissioner has given prior written approval allowing the captive insurance company to take credit for the reinsurance of a risk or portion of risk ceded to reinsurers that do not comply with the provisions of said sections.(c) For purposes of sections 38a-91aa to 38a-91tt, inclusive, insurance by a captive insurance company of any workers' compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.(P.A. 08-127, S. 11; Oct. Sp. Sess. P.A. 11-1, S. 65; P.A. 14-6, S. 5; 14-235, S. 13; P.A. 22-118, S. 445.)History: P.A. 08-127 effective January 1, 2009; Oct. Sp. Sess. P.A. 11-1 made a technical change in Subsec. (c), effective July 1, 2012; P.A. 14-6 amended Subsec. (b) to change 'section 38a-85 or 38a-86' to 'sections 38a-85 to 38a-88, inclusive,' add provision re commissioner to give prior written approval re credit for reinsurance ceded to reinsurers that

ec. (b) to change 'section 38a-85 or 38a-86' to 'sections 38a-85 to 38a-88, inclusive,' add provision re commissioner to give prior written approval re credit for reinsurance ceded to reinsurers that do not comply with provisions of said sections, and make technical changes; P.A. 14-235 made a technical change in Subsec. (b); P.A. 22-118 amended Subsec. (a) to delete reference to risks that company is authorized to write directly, effective July 1, 2022.

(a) Any captive insurance company may assume reinsurance from any other insurer.(b) A captive insurance company may only take credit for the reinsurance of a risk or portion of risk ceded to reinsurers that comply with the provisions of sections 38a-85 to 38a-88, inclusive, unless the commissioner has given prior written approval allowing the captive insurance company to take credit for the reinsurance of a risk or portion of risk ceded to reinsurers that do not comply with the provisions of said sections.(c) For purposes of sections 38a-91aa to 38a-91tt, inclusive, insurance by a captive insurance company of any workers' compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.(P.A. 08-127, S. 11; Oct. Sp. Sess. P.A. 11-1, S. 65; P.A. 14-6, S. 5; 14-235, S. 13; P.A. 22-118, S. 445.)History: P.A. 08-127 effective January 1, 2009; Oct. Sp. Sess. P.A. 11-1 made a technical change in Subsec. (c), effective July 1, 2012; P.A. 14-6 amended Subsec. (b) to change 'section 38a-85 or 38a-86' to 'sections 38a-85 to 38a-88, inclusive,' add provision re commissioner to give prior written approval re credit for reinsurance ceded to reinsurers that

ec. (b) to change 'section 38a-85 or 38a-86' to 'sections 38a-85 to 38a-88, inclusive,' add provision re commissioner to give prior written approval re credit for reinsurance ceded to reinsurers that do not comply with provisions of said sections, and make technical changes; P.A. 14-235 made a technical change in Subsec. (b); P.A. 22-118 amended Subsec. (a) to delete reference to risks that company is authorized to write directly, effective July 1, 2022.