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Insurance commissioner warns of rising property/liability costs, urges flood‑risk outreach and resilience measures
Summary
Connecticut Insurance Commissioner Andrew Mays told the committee market factors — supply‑chain disruptions, inflation, labor costs and climate losses — are pushing property/casualty premiums higher and urged consumer education, resilience investments, updated flood mapping and continued work to attract captive insurers.
Connecticut Insurance Department Commissioner Andrew Mays told the Appropriations Regulation and Protection Subcommittee on Feb. 14 that rising replacement and labor costs, climate‑driven disasters and supply‑chain disruptions are increasing property and liability insurance rates.
Mays said insurance regulators review all rate filings to ensure they are not excessive, arbitrary or unfairly discriminatory, but cautioned that broader market forces can require higher premiums. “We have been monitoring it… I’m not…
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