Sec. 38a-406. Single risk limitation.
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/ct/title-38a/chapter-700a-title-insurance/38a-406·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The net retained liability of a title insurer for a single risk on property located in this state, whether assumed directly or as reinsurance, may not exceed fifty per cent of the sum of its total surplus to policyholders and reserve, less the value assigned to title plants, as shown in the most recent annual statement of the insurer on file in the office of the commissioner.
(b)The commissioner may waive the limitation of this section for a particular risk upon application of the insurer and for good cause shown.