Connecticut 2019 Regular Session

Connecticut Senate Bill SB00981

Introduced
2/28/19  
Introduced
2/28/19  
Refer
2/28/19  
Refer
2/28/19  
Report Pass
3/14/19  
Report Pass
3/14/19  
Refer
3/27/19  
Report Pass
4/2/19  

Caption

An Act Concerning Self-service Storage Insurance.

Impact

The bill is expected to enhance consumer protection by requiring that self-service storage insurance products are provided by licensed insurers. It places the responsibility on facility owners to disclose terms and conditions related to the insurance to customers, thereby promoting transparency. Additionally, this legislation limits the ability of unregulated or unauthorized entities to sell insurance, ensuring that customers are not misled about the coverage of their stored items.

Summary

SB00981, titled 'An Act Concerning Self-service Storage Insurance,' focuses on the regulation and licensing of self-service storage insurance in the state. The bill requires owners of self-service storage facilities to obtain a license from the Insurance Commissioner before offering or selling insurance coverage for personal property stored in their facilities. This legislation aims to standardize practices related to self-service storage insurance and ensure that providers meet certain regulatory requirements to better protect consumers and their belongings.

Sentiment

General sentiment around SB00981 appears to be supportive among consumer advocates and regulatory bodies, as it fosters increased transparency and accountability in the marketplace. Proponents argue that the regulatory changes will lead to better consumer protections and clear rules for facility owners to follow. However, some facility operators may feel burdened by the new requirements, citing increased administrative overhead as a potential drawback.

Contention

One notable point of contention regarding the bill may involve the balance between regulation and the operational flexibility for facility owners. While supporters laud the consumer protection measures, some criticize the increased licensing hurdles and associated costs that may arise for storage facility operators. The debate suggests ongoing discussions about the best ways to implement effective regulation without stifling business operations within the industry.

Companion Bills

No companion bills found.

Previously Filed As

CT HB05250

An Act Concerning Self-service Storage Insurance.

CT SB00398

An Act Concerning The Regulation And Taxation Of Travel Insurance And Associated Entities, Products And Professionals.

CT HB05503

An Act Concerning Insurance Market Conduct And Insurance Licensing, The Insurance Department's Technical Corrections And Other Revisions To The Insurance Statutes And Captive Insurance.

CT SB00321

An Act Concerning Captive Insurance And The Conversion Of Protected Cells.

CT HB05247

An Act Concerning Employee Health Benefit Consortiums.

CT SB00400

An Act Concerning The Insurance Department's Technical Corrections And Other Revisions To The Insurance Statutes.

CT SB00008

An Act Concerning Drug Affordability.

CT SB00241

An Act Concerning The Office Of Health Strategy's Recommendations Regarding 340b Program Transparency.

CT SB00395

An Act Concerning The Reporting Of Medical Debt.

CT SB00180

An Act Concerning Adverse Determination And Utilization Reviews.

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