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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  2010-00315

CCR details

Tracking Number 2010-00315
Type of Filing Additional Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 702 Division of Insurance
CCR Number 3 CCR 702-4

Proposed rule

Additional Information
Statutory Authority 10-1-109 and 10-3-1110(1)
Purpose/Objective of Rule The purpose of this regulation is to provide rules for life insurance policy illustrations that will protect consumers and foster consumer education. The regulation provides illustration formats, prescribes standards to be followed when illustrations are used, and specifies the disclosures that are required in connection with illustrations. The goals of this regulation are to ensure that illustrations do not mislead purchasers of life insurance and to make illustrations more understandable. Insurers will, as far as possible, eliminate the use of footnotes and caveats and define terms, used in the illustration, in language that would be understood by a typical person within the segment of the public to which the illustration is directed.
Comments Todd Larson/previous tracking number 2010-00125
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation?
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 AdoptedRules02010-00315.DOC
Redline Redline2010-00315.DOC
Original Hearing Details EmergencyJustificationPathAttach2010-00315.DOC
Adopted Date 05/06/2010
AGO requested date 05/06/2010
Attorney General Opinion 05/14/2010
Effective Date 07/01/2010
Inserted into CCR 06/30/2010