OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
SB-843
AN ACT CONCERNING THE REGULATION OF INSURANCE IN
THIS STATE.
AMENDMENT
LCO No.: 10355
File Copy No.: 315
Senate Calendar No.: 207
Primary Analyst: MP 6/7/21
Contributing Analyst(s): (PC)
OFA Fiscal Note
Potential Cost
The amendment adds unrelated provisions to the bill which result in
a potential one-time cost of up to $25,000 in FY 22 to the Insurance
Department from the Insurance Fund for consultant services.
Under the amendment, the Insurance Department (DOI) must report
by April 1, 2022, and biennially thereafter, on the agency's progress in
taking actions related to climate-related risks and greenhouse gas
emissions, and on the agency's actions to bolster the resilience of
insurers to the physical impacts of climate change. To the extent that
DOI needs outside expertise to help establish the reporting initially, the
agency is anticipated to incur a cost of up to $25,000 in FY 22.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely
for the purposes of information, summarization and explanation and does not represent the intent of the General
Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of
informational sources, including the analyst’s professional knowledge. Whenever applicable, agency data is
consulted as part of the analysis, however final products do not necessarily reflect an assessment from any
specific department.