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Code of Colorado Regulations eDocket
Details of Tracking Number
2023-00286
CCR details
| Tracking Number |
2023-00286 |
| Type of Filing |
Permanent Rule |
| Department |
700 Department of Regulatory Agencies |
| Agency |
702 Division of Insurance |
| CCR Number |
3 CCR 702-5 |
| CCR Title |
PROPERTY AND CASUALTY |
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Proposed rule
| Notice Filed with SOS |
05/31/2023 |
| Rule |
ProposedRuleAttach2023-00286.doc |
| Statutory Authority |
§§ 10-1-108(7), 10-1-109(1), 10-3-1103, 10-3-1104(1)(h), 10-4-110.8(13), and 10-3-1110, C.R.S. |
| Description of Subjects/Issues |
The purpose of this regulation is to protect homeowner policyholders who have suffered a loss during a catastrophic disaster, such as the 2020 Colorado East Troublesome Fire and the 2021 Marshall and Middle Fork Fires, from insurers that cause unreasonable delays in claim handling. Such delays may result in delays to rebuilding the homeowner policyholders’ property, which is often further exacerbated by labor and material shortages. The Division is specifically concerned with ALE benefits and time limits on repair or replacement for recoverable coverage. This regulation identifies specific acts or practices that may constitute unfair claim settlement practices. |
| Purpose/Objective of Rule |
The purpose of this regulation is to protect homeowner policyholders who have suffered a loss during a catastrophic disaster, such as the 2020 Colorado East Troublesome Fire and the 2021 Marshall and Middle Fork Fires, from insurers that cause unreasonable delays in claim handling. Such delays may result in delays to rebuilding the homeowner policyholders’ property, which is often further exacerbated by labor and material shortages. The Division is specifically concerned with ALE benefits and time limits on repair or replacement for recoverable coverage. This regulation identifies specific acts or practices that may constitute unfair claim settlement practices. |
| Submitted in response to issues raised by COLS/OLLS? |
No
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| Is this rule adopted in response to recent legislation? |
No
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| Hearing Date |
06/30/2023 |
| Hearing Time |
11:00 AM |
| Hearing Location |
Webinar or 1560 Broadway, STE 850, Denver CO 80202 |
| Contact Name |
Jill Mullen |
| Contact Title |
Policy Advisor |
| Contact Telephone |
7205564952 |
| Contact email |
jill.mullen@state.co.us |
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Adopted rule
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