Sec. 38a-807. (Formerly Sec. 38-185r). Disclosure of conditions and terms of policy. Disclosure of sponsor's financial interest in plan. - Connecticut Statutes

      Sec. 38a-807. (Formerly Sec. 38-185r). Disclosure of conditions and terms of policy. Disclosure of sponsor's financial interest in plan. An insurer or producer issuing a policy under a mass marketing plan shall, prior to the issuance of such policy, make a full and fair disclosure to the prospective insured of all the conditions and other terms of the policy to be issued, including, but not limited to, such items as rates, type and extent of coverage, benefits, duration of coverage and services to the insured. The sponsoring employer, association, organization or group shall make a full and fair disclosure to the eligible members of its financial interests in the plan, if any.

      (1971, P.A. 464, S. 7; P.A. 96-193, S. 17, 36; P.A. 99-257, S. 5.)

      History: Sec. 38-185r transferred to Sec. 38a-807 in 1991; P.A. 96-193 substituted "producer" for "agent or broker", effective June 3, 1996; P.A. 99-257 added requirement that sponsoring employer, association, organization or group make full and fair disclosure to eligible members of its financial interests in the plan, if any.