| Notice Filed with SOS |
08/31/2007 |
| Rule |
ProposedRuleAttach2007-01019.RTF |
| Statutory Authority |
Sections 10-1-109 & 10-2-417, C.R.S. |
| Description of Subjects/Issues |
Regulation 1-1-2; Public Adjuster Representation Agreements Subject to Rescission Within 72 Hours of Loss Occurrence |
| Purpose/Objective of Rule |
The purpose of this regulation is to prevent unfair settlements of claims by providing a 72 hour ?cooling off? period for insureds suffering casualty losses, during which, for the immediate 72 hours following execution of a settlement representation agreement shall be subject to rescission by an insured, except as specifically exempted in this regulation. |
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
|
| Hearing Date |
10/10/2007 |
| Hearing Time |
09:00 AM |
| Hearing Location |
Colorado Division of Insurance, 1560 Broadway, Ste. 850, 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 |