Connecticut legislation · 2025 General Assembly
Connecticut HB7038: AN ACT REQUIRING A STUDY OF THE FEASIBILITY OF ESTABLISHING A CAPTIVE INSURANCE COMPANY OR USING PARAMETRIC INSURANCE TO PROVIDE
Status: Introduced, February 20, 2025
AN ACT REQUIRING A STUDY OF THE FEASIBILITY OF ESTABLISHING A CAPTIVE INSURANCE COMPANY OR USING PARAMETRIC INSURANCE TO PROVIDE FINANCIAL ASSISTANCE TO FARMERS IMPACTED BY THE EFFECTS OF SEVERE WEATHER.
What the bill says
An act requiring a study of the feasibility of establishing a captive insurance company or using parametric insurance to provide financial assistance to farmers impacted by the effects of severe weather. assembly convened.
From the introduced text:
AN ACT REQUIRING A STUDY OF THE FEASIBILITY OF ESTABLISHING A CAPTIVE INSURANCE COMPANY OR USING PARAMETRIC INSURANCE TO PROVIDE FINANCIAL ASSISTANCE TO FARMERS IMPACTED BY THE EFFECTS OF SEVERE WEATHER. Assembly convened: Section 1. (Effective from passage) (a) The Insurance Commissioner, in consultation with the Commissioner of Agriculture, shall conduct a feasibility study for establishing a captive insurance company or providing insurance coverage through parametric contracts to provide financial assistance to farmers in this state who are impacted by the effects of severe weather. For the purposes of this section, "parametric contract" has the same meaning as provided in section 38a-91bb of the general statutes. (b) Not later than February 1, 2026, the Insurance Commissioner shall report, in accordance with the provisions of section 11-4a of the general statutes, to the joint standing committees of the General Assembly having cognizance of matters relating to the environment and insurance on any recommendations concerning the establishment of a captive insurance company or providing insurance coverage through LCO No. 4822 1 of Raised Bill No. 7038 parametric contracts to provide financial assistance to farmers in this state who are impacted by the effects of severe weather. This act shall take effect as follows and shall amend the following sections: Section 1 from passage New section Statement of Purpose: To require that the …
Sponsors
- Tom Delnicki (R, 14) · primary sponsor
- Saud Anwar (D, 3)
- Christine Pavalock-D'Amato (R, 77)
- Jill Barry (D, 31)
- Joseph Gresko (D, 121)
- Savet Constantine (D, 42)
- Michael Quinn (D, 82)
- William Heffernan (D, 115)
Latest actions
- : Reported Out of Legislative Commissioners' Office
- : No New File by Committee on Appropriations
- : Tabled for the Calendar, House
- : Filed with Legislative Commissioners' Office
- : Joint Favorable
- : Referred by House to Committee on Appropriations
- : Reported Out of Legislative Commissioners' Office
- : Favorable Report, Tabled for the Calendar, House
- : House Calendar Number 244
- : File Number 362
Common questions
- What is HB7038?
- HB7038 is a bill in the Connecticut Legislature (2025 General Assembly): AN ACT REQUIRING A STUDY OF THE FEASIBILITY OF ESTABLISHING A CAPTIVE INSURANCE COMPANY OR USING PARAMETRIC INSURANCE TO PROVIDE.
- What does HB7038 do?
- In its own words: An act requiring a study of the feasibility of establishing a captive insurance company or using parametric insurance to provide financial assistance to farmers impacted by the effects of severe weather. assembly convened.
- What is the status of HB7038?
- Introduced as of February 20, 2025. Latest action: Reported Out of Legislative Commissioners' Office (May 7, 2025).
- Who sponsored HB7038?
- Tom Delnicki (R, 14), with 7 co-sponsors.
- Where is the official record for HB7038?
- On the Connecticut Legislature website: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB07038&which_year=2025
Source: official Connecticut record. Tracked by Delilah, AI for legislation across all 50 states and Congress.