Regulations of Connecticut State Agencies
(a) Each viatical settlement provider shall file with the Commissioner on or before March 1 each year, commencing with March 1, 2001, an annual statement containing the following information regarding business transacted in this state for the previous calendar year:
(1) For each policy viaticated, the date that the viatical settlement was entered into; the life expectancy of the viator at the time of the contract; the face amount of the policy; the amount paid by the viatical settlement provider to viaticate the policy and the percentage that amount represents of the face amount; and if the viator has died, the date, the total insurance premiums paid by the viatical settlement provider to maintain the policy in force and the primary ICD diagnosis code, in numeric format, as defined by the International Classification of Diseases, as published by the U.S. Department of Health and Human Services;
(2) a breakdown of applications received, accepted, and rejected, by disease category;
(3) a breakdown of policies viaticated by issuer and policy type;
(4) the number of secondary market versus primary market transactions;
(5) the total number of policies viaticated, the total policy premiums paid, the total paid to all viators, and the total commissions paid to viatical settlement brokers;
(6) the source and amount of outside borrowing or financing; and
(7) the name and address of each viatical settlement broker through whom the reporting company purchased a policy from a viator who resided in Connecticut at the time of contract.
(Adopted effective November 9, 1998; Amended March 1, 2000)