CONNECTICUT INSURANCE DEPARTMENT HIGHLIGHTS FISCAL YEAR 2026 RESULTS

FOR IMMEDIATE RELEASE
October 5, 2026

 

HARTFORD, CT – The Connecticut Insurance Department (CID) today released its Fiscal Year 2026 results, highlighting more than $6.4 million recovered for Connecticut consumers through complaint resolution and assistance, more than $35million in reported life insurance coverage matched through the Life Insurance Policy Locator, and more than $138.6 million generated for the State of Connecticut.

"Protecting consumers is at the center of the Department’s work," said Insurance Commissioner Josh Hershman. "These results show the impact of that work, from resolving individual consumer issues to holding insurers and licensed professionals accountable and supporting a stable marketplace for Connecticut."

The CID is funded primarily through the Connecticut Insurance Fund, which is supported by assessments paid by domestic insurance companies and certain other domestic entities. This funding structure allows the Department to operate independently of the State's General Fund while generating significant revenue for the state.

Fiscal Year 2026 By the Numbers

  • More than $138.6 million generated for Connecticut's General Fund, including approximately $41 million from biennial producer appointment fees and $2.6 million from fines and penalties on regulated entities.
  • More than $6.4 million recovered for Connecticut consumers.
  • More than $35 million in reported life insurance coverage matched through the Life Insurance Policy Locator.
  • 67 market conduct examinations completed.
  • 328,249 resident and non-resident insurance professionals licensed.
  • 7,301 consumer complaints and inquiries handled.

Market Conduct and Enforcement

The Department's Market Conduct Unit conducted 67 market conduct examinations during Fiscal Year 2026 and collected approximately $1.65 million in fines from regulated entities.

The Investigations Unit investigated allegations of misconduct involving licensed insurance professionals (“producers”). During the fiscal year, the Department:

  • Issued 26 fines totaling $51,250.
  • Revoked 25 producer licenses.
  • Placed 6 producer licenses on probation.
  • Accepted the administrative surrender or suspension of 2 producer licenses.
  • Assessed $855,670 in penalties against surplus lines brokers.

“Strong regulatory oversight protects consumers and helps maintain a fair and competitive insurance marketplace,” said Kurt Swan, Director of the Market Conduct, Fraud, and Licensing Division. “These results reflect the Department’s work to ensure companies and professionals meet their obligations under Connecticut law.”

Consumer Assistance

CID’s Consumer Affairs Division works directly with Connecticut residents to address insurance questions and complaints and help resolve disputes with insurers. During the year, the Division:

  • Handled 7,301 consumer complaints and inquiries.
  • Responded to more than 12,150 consumer phone calls.
  • Helped consumers recover more than $6.4 million.
  • Matched more than $35 million in reported life insurance coverage to 1,556 Connecticut consumers through the Life Insurance Policy Locator.

Consumer complaints and inquiries also provide the Department with information about issues affecting Connecticut policyholders and the broader insurance marketplace.

"Our Consumer Affairs team works every day to help residents understand their insurance coverage and resolve problems with their insurance," said Gerard O’Sullivan, Director of Consumer Affairs. "The more than $6.4 million recovered for consumers is a direct measure of that work and the impact it can have on Connecticut residents."

For more information, visit the Connecticut Insurance Department website.

Consumers seeking help with an insurance issue can visit CID’s Consumer Affairs page or contact the Consumer Affairs Division by email at insurance@ct.gov or, by phone at (860) 297-3900, or toll-free at (800) 203-3447.

Learn more about the Life Insurance Policy Locator and access the tool.

 

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Contact: Mary Quinn
Communications Director
Mary.Quinn@ct.gov
Cell: (959) 529-4904