Connecticut Annuity Information
Connecticut Insurance Department
The mission of the Connecticut Insurance Department is consumer protection. The Department carries out its mission by enforcing state insurance laws to ensure policyholders are treated fairly, by providing assistance, outreach and education to help consumers make sound choices and by regulating the industry in a fair and consistent manner that fosters market competition for availability of insurance.
The state of Connecticut is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), U.S. insurance regulators establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace. U.S. insurance regulators also participate in the International Association of Insurance Supervisors (IAIS) along with the NAIC by participating in major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices.
Katharine L. Wade was appointed as Connecticut’s Insurance Commissioner by Governor Dannel P. Malloy on March 20, 2015. Commissioner Wade has more than 20 years experience in the fields of regulatory compliance and consumer outreach.
She has initiated and is overseeing a number of new Department initiatives aimed at enhancing consumer education, regulatory efficiency and Product Comparisons. The Commissioner created a free consumer letter, “Insurance Matters,” which features important topical issues explained in an easy-to-understand format. It is broadly distributed and available on the Department Web site.
Commissioner Wade works closely with other state insurance departments, through the National Association of Insurance Commissioners (NAIC) and with the Federal Reserve and Federal Insurance Office (FIO) to ensure that regulatory standards – particularly new capital standards – being developed in the U.S. and internationally will not harm Connecticut-based companies and consumers.
The Connecticut Insurance Department aims to serve consumers by monitoring and regulating the insurance industry in a fair and equitable manner. It aims to enforce insurance laws in order to maintain a financially sound insurance market while protecting consumers. The Consumer Affairs Division of the Connecticut Insurance Department is available to provide information and specialized attention in any consumer inquiry or complaint.
|State Commissioner:||Barbara C. Spear|
|Insurance Hotline:||(860) 297-3802|
|Annuity Guarantee Limit:||$100,000|
|Links:||Annuities and Senior Citizens|
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