CID: New Releases (03/29/2017) - Going Paperless for Adjuster Renewals Trims $40,000 in Processing Costs

{Connecticut Insurance Department}
STATE OF CONNECTICUT
Insurance Department
 
Katharine L. Wade
Commissioner
 
 
FOR IMMEDIATE RELEASE
 CONTACT: 
Donna Tommelleo
 
860-297-3958
March 29th, 2017


 Going Paperless for Adjuster Renewals
Trims $40,000 in Processing Costs
 

Commissioner Katharine L. Wade today announced that licensing renewal notices for casualty adjusters and motor vehicle property damage appraisers are now done online, saving nearly $40,000 in processing and mailing costs.

“We are pleased to offer another efficient service for the industry professionals licensed by the Department,” Commissioner Wade said. “The Department is now emailing renewal notices to the 73,000 casualty adjusters and motor vehicle property damage appraisers in Connecticut beginning this week, improving efficiency by saving time and shedding thousands of dollars in mailing and postage costs.”

These licenses expire on June 30, 2017 and are good for two years. The renewals also are now processed online through the National Insurance Producer Registry (NIPR). The casualty adjuster renewals are expect to generate approximately $6 million for the General Fund. For more information on the renewal process, visit the Casualty Adjuster Renewal page.

Commissioner Wade noted that the electronic notices are one of several streamlined processes the CID has implemented in the last two years:
  • Turnaround time for product reviews in both Life & Health and Property & Casualty have greatly improved as a result of the CID’s LEAN processes.

  • A new online pay portal for the nearly 200,000 agents, adjusters and bail bondsmen, licensed by the CID, was launched in 2016 to make it easier for licensees and improve the speed of revenue collection for the General Fund.

  • The CID is now offering an online electronic application for all out-of-state (foreign) carriers seeking to do business in Connecticut through the Uniform Certificate of Authority Application. This includes applications for expansion and corporate amendments.
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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.
 
 
For help with all your insurance issues:
  • Email us at insurance@ct.gov
  • Ask a question or file a complaint online
  • Call the Consumer Helpline at 800-203-3447 or 860-297-3900.
  • Sign up for e-alerts to get the latest news, warnings and rate changes that may affect your premium
  • Download consumer FAQs on health, homeowner and auto coverage
  • Use the Department’s Speakers Bureau for public events.
  • Visit our Web site and follow the Department on Facebook, Twitter or YouTube
 


Content Last Modified on 3/29/2017 10:21:15 AM