Connecticut Insurance Department Advises on Insurance Holding Company System Annual Registration Statement Filings–Form B

Connecticut Gen. Stat. §38a-135(a) provides that “Every insurance company that is authorized to do business in this state and is a member of an insurance holding company system shall register with the commissioner on a form prescribed by the commissioner. “

The initial registration must be submitted no later than 15 days after a company becomes subject to registration with annual filings thereafter by June first of each year for the previous calendar year, unless the commissioner, for good cause shown, extends the time for registration.

The registration filing must be submitted using the Form B as provided in s. 38a138-8 of the Regulations of Connecticut State Agencies and satisfy the statutory requirements as provided in Connecticut Gen. Stat. §38a-135.  The Form B format is found in Appendix B to the referenced regulation.

The Form B format as provided in the above referenced regulation does not specify a designated reporting section for the information to be included pursuant to Conn. Gen. Stat. §38a-135(b)(1 )(F) which provides that the following must be included in the annual registration:

Statements that the insurance company’s board of directors oversees corporate governance and internal controls of such company, and that such company’s officers or senior management have approved, implemented and continue to maintain such governance and controls;

For consistency, all registrants are directed to include the above statements in Item 8(c) of the Form B filing.