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Connecticut Extends Flex-Rating for Personal Risks

July 2, 2015 AAIS Advisory notice

A recent bulletin from the Connecticut Insurance Department extends the state's "flex-rate" filing for personal risks until July 1, 2017. The extension applies to all personal risk rate filings submitted after June 30, 2015.

Under Connecticut's flex-rate law and implementing regulations, insurers can immediately start using homeowners and personal auto rates upon filing them with the department, provided the rates do not amount to an 12-month statewide increase or decrease of greater than 6% in the aggregate, or a 15% increase in any individual territory. 

The limitations on "file and use" apply to each company within a group (i.e., they cannot average their filings). Also, companies are allowed to make multiple filings within a 12-month period without prior approval, provided the filings do not exceed the flex-rating limits on a cumulative basis.


AAIS Advisory notices are posted periodically to announce AAIS product developments, and to provide news items that are relevant to our program users. Advisory notices are news summaries that paraphrase documents which should be consulted directly for complete, authoritative information.

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