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Code of Colorado Regulations eDocket
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 |
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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This Regulation is being repealed in full and repromulgated as new regulations 3-3-3, 3-3-4, and 3-3-5 |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
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| Is this rule adopted in response to recent legislation? |
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| 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 |
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Adopted rule
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Adopted Rules
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AdoptedRules2006-00663.rtf
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| 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 |
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