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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  2007-01019

CCR details

Tracking Number 2007-01019
Type of Filing Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 702 Division of Insurance
CCR Number 3 CCR 702-1

Proposed rule

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

Adopted rule

Adopted Rules AdoptedRules02007-01019.RTF
Redline Redline2007-01019.RTF
Adopted Date 10/18/2007
AGO requested date 10/18/2007
Attorney General Opinion 10/29/2007
Effective Date 12/01/2007
Inserted into CCR 11/27/2007