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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  2017-00173


CCR details

Tracking Number 2017-00173
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 04/28/2017
Rule ProposedRuleAttach2017-00173.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 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.
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.
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation? No
Hearing Date 06/02/2017
Hearing Time 03:00 PM
Hearing Location 1560 Broadway, Ste 110 D, Denver CO 80202
Contact Name Christine Gonzales-Ferrer
Contact Title Rulemaking Coordinator
Contact Telephone 303-894-2157
Contact email christine.gonzales-ferrer@state.co.us

Adopted rule

Adopted Rules AdoptedRules02017-00173.doc
Redline Redline2017-00173.doc
Adopted Date 06/09/2017
AGO requested date 06/09/2017
Attorney General Opinion 06/20/2017
Colorado Register publication date 07/10/2017
Effective Date 08/01/2017
Inserted into CCR 08/18/2017