2023 Colorado Revised Statutes › Title 10 - INSURANCE (§§ 10-1-101 — 10-23-110) › PROPERTY AND CASUALTY INSURANCE (§§ 10-4-101 — 10-4-1909) › Article 4 - PROPERTY AND CASUALTY INSURANCE (§§ 10-4-101 — 10-4-1909) › Part 4 - RATE REGULATION (§§ 10-4-401 — 10-4-421) › Section 10-4-407 - Hearings

(1)
If, pursuant to section
10-4-406(2)
, the commissioner determines to hold a public hearing as to a filing or holds such a public hearing pursuant to request therefor under section
10-4-406(3)
, he shall give written notice thereof to the rating organization or insurer that made the filing, shall hold such hearing within thirty days after commencement of the public inspection period provided for in section
10-4-406(3)
, and, not less than ten days prior to the date of the hearing, he shall give written notice of the hearing to the insurer or rating organization that made the filing. The commissioner may also give advance public notice of such hearing by publication of notice in one or more daily newspapers of general circulation in this state.
(2)
If the commissioner's order disapproves the filing, the rate change shall not be placed into effect. If the commissioner's order approves the filing or any portion thereof, the approved rate filing shall become effective upon such subsequent date as may be satisfactory to the insurer or rating organization that made the filing; except that rates for workers' compensation insurance shall become effective on January 1 unless the commissioner, upon application, makes a finding upon good cause shown that a later date is necessary or appropriate for the implementation of such filing.
(3)
Any person aggrieved by the approval by the commissioner of a rate filing may make written application to the commissioner for a hearing thereon, and such application shall specify the grounds to be relied upon by the applicant. If the commissioner finds that the application is made in good faith, that the applicant would be so aggrieved if his grounds are established, and that such grounds otherwise justify holding such a hearing, he shall hold a hearing as provided in sections
24-4-102
to
24-4-107
, C.R.S.
(4)
Any insurer or rating organization aggrieved by an order or decision of the commissioner made without a hearing may, within thirty days after notice of the order or decision to the insurer or rating organization, make written application to the commissioner for a hearing thereon. The commissioner shall hold a hearing as provided in sections
24-4-102
to
24-4-107
, C.R.S. Within fifteen days after such hearing, the commissioner shall affirm, reverse, or modify his previous action, specifying his reasons therefor. Pending such hearing and decision thereon, the commissioner may suspend or postpone the effective date of his previous action.
(5)
Hearings held under this part 4 shall be held by the commissioner or his designee. Any final action of the commissioner pursuant to this part 4 shall be subject to judicial review by the court of appeals pursuant to section
24-4-106(11)
, C.R.S.
L. 79: Entire part R&RE, p. 368, § 8, effective July 1. L. 85: (2) amended, p. 382, § 3, effective April 17. L. 86: (5) added, p. 580, § 4, effective July 1. L. 91: (2) amended, p. 1199, § 5, effective April 11. L. 92: (5) amended, p. 1557, § 57, effective May 20. L. 2004: (2) amended, p. 396, § 3, effective August 4.
This section is similar to former §§ 10-4-318 and 10-4-403 as they existed prior to 1979.