| Purpose/Objective of Rule |
The purpose of this regulation is to implement rules prohibiting producers from charging certain fees for which they are already compensated through commissions and to clarify which fees may be charged. The Division of Insurance finds, pursuant to § 24-4-103(6)(a), C.R.S., that immediate adoption of this regulation is imperatively necessary to ensure that the regulations governing compensation for insurance producers will comply with the changes mandated by Senate Bill 18-136, which become effective on August 8, 2018. Therefore, compliance with the requirements of § 24-4-103, C.R.S., would be contrary to the public interest. This emergency regulation replaces Colorado Insurance Regulation 1-2-9 that became effective on May 1, 2014 in its entirety. |