How to Become a Qualified Jurisdiction
Process if a Jurisdiction has been qualified by a state other than Connecticut and/or the National Association of Insurance Commissioners:
- The National Association of Insurance Commissioners (NAIC) has adopted A Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions. If the Jurisdiction has been qualified by the NAIC and has a Memorandum of Understanding (“MOU”) with the Connecticut Insurance Department or if the Jurisdiction is a party to the International Association of Insurance Supervisors Multilateral Memorandum of Understanding the Jurisdiction (“IAIS MMOU”) should provide a letter to the Connecticut Insurance Department on jurisdiction letterhead addressed to the Commissioner care of the Director of Financial Regulation (see requirements below). We do not require a resubmission of material previously filed.
- Confirm the jurisdiction has received indication from a company domiciled in its jurisdiction it intends to apply for certified reinsurer status in Connecticut;
- Confirm the jurisdiction has no objection to the application;
- Agree to cooperate and share information with Connecticut in accordance with the signed/executed MOU or IAIS MMOU
- Following qualification by a state other than Connecticut and which has been reviewed by the NAIC Qualified Jurisdiction Working Group, the jurisdiction wishing to become qualified in Connecticut should make a formal request to the Connecticut Insurance Department. This request should be in letter form on jurisdiction letterhead addressed to the Commissioner care of the Director of Financial Regulation (see requirements below). We do not require a resubmission of materials previously filed.
- Confirm the jurisdiction has received indication from a company domiciled in its jurisdiction it intends to apply for certified reinsurer status in Connecticut;
- Confirm the jurisdiction has no objection to the application;
- Agree to cooperate and share information with the state that reviewed the initial application for qualified jurisdiction status in accordance with the signed/executed Memorandum of Understanding between it and the state;
- Confirm the jurisdiction’s understanding that the state will share information with the Connecticut Insurance Department to the extent it is necessary as part of Connecticut’s review process.
Process for first time qualification of a jurisdiction (not qualified by a state other than Connecticut):
Connecticut Application took kit:
