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Press Releases - November 18, 2016

 Contact: Donna Tommelleo, 860-297-3958
Insurance Commissioner: New Online Pay Portal
Expedites Transactions for Licensees
Credit Card Portal Will Process Producers’ Letters of Certification & Clearance
And Bail Bonds Annual Assessments

Insurance Commissioner Katharine L. Wade today announced the roll-out of a new online pay portal that offers convenient and fast financial transactions for the thousands of licensees who conduct business daily with the Department.

“We are very pleased to offer this business-friendly tool, a direct result of the LEAN processes we have adopted to achieve greater regulatory efficiency,” Commissioner Wade said. “The new credit card portal significantly reduces the turnaround time for certain financial transactions, eliminates inefficient paper processing and postage costs, frees up staff for other duties and enhances the interactions our licensees have with their regulators.”

Beginning immediately:

  • All producer requests for letters of certification and clearance letters will be processed through the portal and the $26 fee can be paid by credit card. The portal reduces the turnaround time from 10 business days to three business days.
  • The annual $450 assessment for licensed bail bondsmen, which is due January 31, 2017, will now be processed solely through the portal.
  • Checks will no longer be accepted for these functions.
About the Connecticut Insurance Department: The mission of the Connecticut Insurance Department is to protect consumers through regulation of the industry, outreach, education and advocacy. The Department recovers an average of $4 million yearly on behalf of consumers and regulates the industry by ensuring carriers adhere to state insurance laws and regulations and are financially solvent to pay claims. The Department’s annual budget is funded through assessments from the insurance industry. Each year, the Department returns an average of $100 million a year to the state General Fund in license fees, premium taxes, fines and other revenue sources to support various state programs, including childhood immunization.
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