OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
SB-1050
AN ACT CONCERNING NOTICES PROVIDED BY LIFE INSURERS.
As Amended by Senate "A" (LCO 7674)
House Calendar No.: 435
Senate Calendar No.: 210
Primary Analyst: MP 4/29/21
Contributing Analyst(s):
OFA Fiscal Note
State Impact: None
Municipal Impact: None
Explanation
There is no fiscal impact to the state or municipalities under the bill,
which requires life insurers and third-party administrators acting as
the agent of an insurer to send certain notices and allows the Insurance
Department to adopt implementing regulations, which they have the
staff to do.
Senate "A" adds third-party administrators acting as the agent of an
insurer to the entities that must send annual notices and makes other
technical changes that do not change the fiscal impact of the
underlying bill.
The Out Years
State Impact: None
Municipal Impact: None
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.