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Details of Tracking Number  2014-00238


CCR details

Tracking Number 2014-00238
Type of Filing Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 702 Division of Insurance
CCR Number 3 CCR 702-4 Series 4-1
CCR Title LIFE, ACCIDENT AND HEALTH, Series 4-1

Proposed rule

Rule ProposedRuleAttach2014-00238.DOC
Statutory Authority 10-1-109, and 10-7-313.7
Description of Subjects/Issues 4-1-15 PRENEED LIFE INSURANCE MINIMUM MORTALITY STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES
Purpose/Objective of Rule The purpose of this regulation is to establish, for preneed insurance products, minimum mortality standards for reserves and nonforfeiture values, and to require the use of the Commissionersí 1980 Standard Ordinary (CSO) Mortality Table for use in determining the minimum standard of valuation of reserves and the minimum standard nonforfeiture values for preneed insurance products. It is not the purpose of this regulation to change the minimum interest rate standards or the methods used in determining the minimum standards for reserves and nonforfeiture values for preneed insurance products.
Comments Chris Maciejewski
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation? No
Hearing Date 05/01/2014
Hearing Time 01:00 PM
Hearing Location 1560 Broadway, Ste 850, 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 AdoptedRules02014-00238.DOC
Adopted Date 05/14/2014
AGO requested date 05/16/2014
Attorney General Opinion 05/27/2014
Colorado register publication date 06/10/2014
Effective Date 07/01/2014
Inserted into CCR 06/26/2014