Connecticut insurers to pay refunded assessments to Connecticut Department of Revenue Services

In December 2012, Connecticut Insurance Guaranty Association (CIGA) mailed member insurers an Assessment Statement refunding insurers a portion of prior CIGA assessments. The Connecticut Department of Revenue Services (DRS) subsequently issued AN 2013(1), which clarifies that member insurers of CIGA must recapture the portion of the refunded assessments to the extent they were utilized as a premium tax credit. Repayment to the DRS is due by February 14, 2013.