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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  2011-00786


CCR details

Tracking Number 2011-00786
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 10/26/2011
Rule ProposedRuleAttach2011-00786.DOC
Statutory Authority 10-1-109, 10-3-201(1)(b), 10-6-129, and 10-14-604,
Description of Subjects/Issues 3-1-11 Risk-Based Capital (RBC) for Insurers
Purpose/Objective of Rule The purpose of this Regulation is to establish standards for the minimum capital and surplus to be maintained by insurers, captive insurers and fraternal benefit societies as provided by 10-3-201(1)(b), 10-6-116, and 10-14-604, C.R.S. These standards provide for the early detection of a potentially hazardous or otherwise dangerous condition of an insurer in order to protect its insureds and the general public. This Regulation additionally provides for reporting, corrective measures, and enforcement actions available to the Commissioner.
Comments Mike Conway
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation?
Hearing Date 12/01/2011
Hearing Time 11:30 AM
Hearing Location 1560 Broadway, Suite850, Denver, CO, 80202
Contact Name Christine Gonzales-Ferrer
Contact Title Rulemaking Coordinator
Contact Telephone 303-894-2157
Contact email christine.gonzales-ferrer@dora.state.co.us

Adopted rule

Adopted Rules AdoptedRules02011-00786.DOC
Adopted Date 12/16/2011
AGO requested date 12/16/2011
Attorney General Opinion 12/29/2011
Effective Date 02/01/2012
Inserted into CCR 01/26/2012