AN ACT CONCERNING THE REGULATION OF STOP LOSS INSURANCE.

SB 1001 increases the attachment point (the claim amount a self-insured small business must cover before stop loss insurance applies) for certain small businesses in Connecticut. It also requires the Insurance Commissioner to study implementing a minimum loss ratio and other consumer protections for stop loss insurance policies. The bill directly affects self-insured small businesses that rely on stop loss insurance to limit their financial risk from large claims. These changes aim to adjust financial responsibility thresholds and explore new safeguards for businesses using this insurance type.