The IAC is committed to creating and maintaining a fair and cost effective system of workers’ compensation in Connecticut. In 2014, the IAC played a key role in securing the adoption of a workers’ compensation hospital and ambulatory surgical center fee schedule. Recently, we have been part of a broad coalition working to curb opioid addiction, one of the leading causes of rising workers’ compensation costs. We are often at the forefront in the fight against new and costly presumptions of employer liability.
Property & Casualty Insurance
The IAC represents the interests of companies that offer all lines of property and casualty insurance, especially homeowners’ insurance, commercial insurance, and automobile insurance. By protecting the ability of insurers to engage in legitimate underwriting, we work to create and maintain a competitive marketplace for these products in Connecticut. We also lead numerous coalitions against initiatives by the plaintiffs’ bar to implement costly and adverse changes to Connecticut’s tort system.
In 2017, the IAC was instrumental in securing Connecticut’s adoption of the National Conference of Insurance Legislators (NCOIL) Model Act to Regulate Insurance Requirements for Transportation Network Companies and Transportation Network Drivers, which provides important insurance requirements for companies like Uber and Lyft.
Life Insurance & Financial Security
The IAC represents the interests of companies that offer life insurance, annuities, retirement plans, and long-term care and disability income insurance. In 2016, the IAC was instrumental in securing Connecticut’s participation in the National Association of Insurance Commissioner's Interstate Insurance Product Regulation Compact. We work to create legislative and regulatory environments that foster new and innovative private market products that provide financial protection and security for Connecticut families and businesses.
Professional Liability Insurance
The IAC represents the interests of insurers who underwrite professional liability insurance. Working with partners in the medical and business communities, we have successfully lead numerous coalitions to defeat expansions of civil liability and limitations of defenses. We regularly appear before the judicial branch, where we commission amicus briefs in cases that affect Connecticut tort law.
Performance & Surety Bonds
Performance and surety bonds play an important role in many business deals that drive the economy forward. The IAC represents the interests of sureties who underwrite and offer this unique form of insurance. We work to ensure that parties entering into surety agreements in Connecticut have the freedom to bargain for and negotiate contract terms.
Taxation, regulation, & general business issues
Making Connecticut economically competitive – especially for insurers – is a top priority of the IAC. Insurance is a traditional strength of the state’s economy, and we strive to make the state an attractive jurisdiction for insurers to operate and do business in.
Insurance is taxed differently than almost any other industry, and the IAC is integrally involved in all issues concerning the taxation of Connecticut’s insurance industry. Insurance is also a highly regulated industry, and we represent the interests of Connecticut insurers on matters affecting administrative and regulatory law.
Each year there are numerous legislative proposals regarding general business and employment practices. As some of the largest employers in the state, these proposals can have a major impact on insurers. When appropriate, the IAC partners with other members of the business community to represent the interests of insurers as businesses and employers.