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Code of Colorado Regulations eDocket
Official Publication of the State Administrative Rules (24-4-103(11) C.R.S.)

Details of Tracking Number  2006-00663


CCR details

Tracking Number 2006-00663
Type of Filing Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 702 Division of Insurance
CCR Number 3 CCR 702-3
CCR Title FINANCIAL ISSUES

Proposed rule

Notice Filed with SOS 08/18/2006
Rule ProposedRuleAttach2006-00663.rtf
Statutory Authority Sections 10-1-109(1), 10-3-118(7), 10-3-529(4), 10-6-129, 10-14-505, 10-16-109, 10-3-118, 10-6-122, 10-11-119, 10-14-304, 8-44-204, 8-44-205, 8-45-121, 24-10-115.5, and 29-13-102, C.R.S.
Description of Subjects/Issues Ceding Reinsurance Agreements
Purpose/Objective of Rule Section 10-3-118, C.R.S. provides that a ceding insurer may establish an asset or reduce the amount of liabilities it must otherwise establish on its financial statements for its policy or contract obligations as a result of reinsurance, when the reinsurer is obligated to indemnify the ceding insurer for liabilities reinsured under a reinsurance agreement. It is improper for a ceding insurer to reflect an asset(s) or to reduce its liability(ies) for reinsurance arrangements if, in substance or e
Comments This Regulation is being repealed in full and repromulgated as new regulations 3-3-3, 3-3-4, and 3-3-5
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation?
Hearing Date 10/04/2006
Hearing Time 10:00 AM
Hearing Location 1560 Broadway, 9th Flr. Common Room, Denver, CO 80202
Contact Name Caryn Berumen
Contact Title Program Assistant II
Contact Telephone (303) 894-2159
Contact email caryn.berumen@dora.state.co.us

Adopted rule

Adopted Rules AdoptedRules2006-00663.rtf
Adopted Date 10/13/2006
AGO requested date 10/13/2006
Attorney General Opinion 10/20/2006
Effective Date 01/01/2007
Inserted into CCR 01/11/2007