reglab/statecodes huggingface dataset:
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1303 - Temporary joint underwriting association

(1)
A nonprofit temporary joint underwriting association is hereby created, consisting of all insurance carriers authorized to transact business in this state, including Pinnacol Assurance, that insures employers against liability for compensation under the provisions of articles
40
to
47
of title
8
, C.R.S., who shall constitute the members thereof. Every such insurer shall participate in the association as a condition of its authority to continue to make contracts of such kind of insurance in this state.
(2)
The purpose of the association shall be to provide black lung insurance coverage for employers located in Colorado who are in good faith entitled to such coverage but who are unable to purchase such insurance through the voluntary market.
(3)
The association shall issue policies beginning immediately; except that the association shall not commence underwriting operations until the commissioner finds that black lung insurance is not, or as of a determinable date will not be, available or cannot be made available in the voluntary market or the cost is so unreasonably high as to make such insurance practicably unavailable.
(4)
(a)
The association shall, pursuant to the provisions of this part 13 and the plan of operation, have the power on behalf of its members:
(I)
To issue, or cause to be issued, policies of black lung insurance;
(II)
To underwrite such insurance;
(III)
To adjust and pay losses with respect thereto; and
(IV)
To provide or cede reinsurance.
(b)
The association may contract with one or more servicing carriers or any other appropriate entity to perform any or all of the duties of the association.
L. 95: Entire part added, p. 732, § 1, effective May 23. L. 2002: (1) amended, p. 1891, § 50, effective July 1.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1304 - Board of directors - authority

(1)
The association shall be governed by a board of six directors, to be appointed by the commissioner. Such directors shall be individuals employed full-time in the business of writing workers' compensation insurance in Colorado, at least one shall be employed by Pinnacol Assurance, at least one shall be actively engaged in operations in a small underground mine, and at least one shall be actively engaged in operations in a large underground mine. The board shall elect a chairperson from among its members.
(2)
The board shall have the authority to take all lawful actions necessary to implement this part 13, including, but not limited to, issuing policies as named insurer.
L. 95: Entire part added, p. 732, § 1, effective May 23. L. 2002: (1) amended, p. 1891, § 51, effective July 1.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1306 - Deficits - assessment - rebate of surplus

(1)
Whenever a deficit exists, the board shall, within ninety days, provide the commissioner with a program to eliminate the deficit within a reasonable time.
(2)
Any premiums or assessments collected by the plan in excess of the amount necessary to fund projected ultimate incurred losses and expenses of the plan and not paid to insureds in conjunction with dividend programs shall be retained by the plan for future use as necessary to ensure the continued operational viability of the plan.
(3)
If the plan incurs a deficit or surplus from operations in excess of the amount required under subsection (2) of this section, as determined by the commissioner, the amount of the deficit or surplus shall be assessed or rebated to the participating insurers. Each such insurer shall pay a portion of the total assessment or receive a portion of the total rebate based on its proportion of the total voluntary Colorado workers' compensation insurance written during the calendar year in which the deficit or surplus occurs.
L. 95: Entire part added, p. 734, § 1, effective May 23.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1307 - Annual statements

The association shall file in the office of the commissioner annually, on or before June 1, a statement which shall contain information with respect to its transactions, condition, operations, and affairs during the preceding year. Such statement shall contain an independent actuarial certification of the results of the operation of the plan and such other matters and information as are prescribed. The commissioner may prescribe the form of such statement and may, at any time, require the association to furnish additional information with respect to its transactions, condition, or any matter connected therewith considered to be material and of assistance in evaluating the scope, operation, and experience of the association.
L. 95: Entire part added, p. 735, § 1, effective May 23.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1308 - Examinations

(1)
The commissioner shall make an examination into the affairs of the association at least annually.
(2)
The evaluation shall include information on the administrative costs of operating a free-standing residual market mechanism as well as the need for rate adjustments necessary to make such mechanism entirely self-sustaining.
L. 95: Entire part added, p. 735, § 1, effective May 23. L. 97: (2) amended, p. 1478, § 23, effective June 3.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1309 - Legislative declaration - authority of commissioner - emergency rules - judicial review

(1)
The general assembly finds, determines, and declares that the matters addressed in this part 13 are of the utmost urgency. Accordingly, the commissioner is authorized to, and shall, adopt emergency rules implementing this part 13 immediately. In addition, the commissioner is empowered to issue all necessary orders to implement this part 13 as soon as is practicable.
(2)
To cover the commissioner's startup costs, the commissioner may assess insurers participating in the association based on each insurer's proportion of the total voluntary Colorado workers' compensation insurance written during calendar year 1994.
(3)
All orders of the commissioner made pursuant to this part 13 shall be subject to judicial review by the court of appeals as provided in section
24-4-106(11)
, C.R.S.; except that, notwithstanding any other provision of law, proceedings for review shall act as a stay of the enforcement of any order or decision of the insurance commissioner disapproving or ordering the withdrawal, adjustment, or termination of the effectiveness of any rate filing made by or on behalf of the association on the ground that the rates or premiums for the business of the association are unreasonable or excessive, and the association may continue to charge rates pursuant to such filing pending final order of the court.
L. 95: Entire part added, p. 735, § 1, effective May 23.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1310 - Privileged communications

There shall be no liability on the part of, and no civil suit for damages shall arise against, the association, the commissioner or his or her authorized representatives, or any other person or organization for any act or statement made in good faith by them during any proceedings or concerning any matters within the scope of this part 13.
L. 95: Entire part added, p. 736, § 1, effective May 23.
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 13 - BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION (§§ 10-4-1301 — 10-4-1311) › Section 10-4-1311 - Tax exemption

The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real or personal property.
L. 95: Entire part added, p. 736, § 1, effective May 23.
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 14 - EXEMPTION FROM RATE AND APPROVAL REQUIREMENTS FOR INSURERS PROVIDING COVERAGE TO EXEMPT COMMERCIAL POLICYHOLDERS (§§ 10-4-1401 — 10-4-1404) › Section 10-4-1401 - Legislative declaration

The general assembly declares that the health, welfare, and safety of the people of the state of Colorado may not be enhanced by the regulation of insurance between sophisticated commercial entities and insurers. The general assembly finds that there are commercial entities that utilize personnel trained in risk management, insurance coverage issues, and insurance industry knowledge who are capable of negotiating and entering into insurance coverage agreements without the need for state regulation in this area. Therefore, the purpose of this part 14 is to exempt insurers negotiating with and insuring sophisticated commercial entities from rate filing and form certification requirements. This exemption will allow competitive underwriting and rating of policies.
L. 99: Entire part added, p. 384, § 1, effective 1/15/2000.
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 14 - EXEMPTION FROM RATE AND APPROVAL REQUIREMENTS FOR INSURERS PROVIDING COVERAGE TO EXEMPT COMMERCIAL POLICYHOLDERS (§§ 10-4-1401 — 10-4-1404) › Section 10-4-1403 - Exemption from rate filing, approval, and form certification requirements

(1)
The requirements of sections
10-4-107
,
10-4-108
,
10-4-109
,
10-4-109.5
,
10-4-109.7
,
10-4-110
,
10-4-113
,
10-4-403
,
10-4-404
,
10-4-404.5
,
10-4-414
,
10-4-419
, and
10-4-421
shall not apply to insurers of exempt commercial policyholders.
(2)
If the commissioner determines, after providing an opportunity for comment and a public hearing, that a line of insurance is anticompetitive, as described in section
10-4-415
, or is not being adequately serviced by insurers, the commissioner may require that the rate for that particular line of insurance be filed pursuant to section
10-4-401
and enforced under section
10-4-418
.
(3)
The commissioner shall review annually any line of insurance found previously to be anticompetitive, as described in section
10-4-415
, to determine whether rate filing and approval requirements may again be eliminated because the line has subsequently become competitive. Such review shall include the opportunity for comment and a public hearing.
L. 99: Entire part added, p. 386, § 1, effective 1/15/2000.
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 14 - EXEMPTION FROM RATE AND APPROVAL REQUIREMENTS FOR INSURERS PROVIDING COVERAGE TO EXEMPT COMMERCIAL POLICYHOLDERS (§§ 10-4-1401 — 10-4-1404) › Section 10-4-1404 - Multistate insurance risks - choice of law

Where the exempt commercial policyholder operates in more than one state, the policy may include provisions within the insurance contract that determine disputes arising from claims handling and procedures, cancellation of the policy, or nonrenewal of the policy, which disputes shall be governed by the state with the largest percentage of premiums charged under the policy.
L. 99: Entire part added, p. 386, § 1, effective 1/15/2000.
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 15 - PORTABLE ELECTRONICS INSURANCE (§§ 10-4-1501 — 10-4-1507) › Section 10-4-1502 - Licensure of vendors

(1)
A vendor shall hold a limited lines producer license issued by the division in accordance with part 4 of article
2
of this title in order to sell or offer coverage under a policy of portable electronics insurance.
(2)
A limited lines producer license issued for the purposes of this part 15 authorizes an employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at each location at which the vendor engages in portable electronics transactions.
(3)
The supervising entity shall maintain a registry of vendor locations that are authorized to sell or solicit portable electronics insurance coverage in this state. Upon request by the commissioner and with ten days' notice to the supervising entity, the supervising entity shall make the registry open to inspection and examination by the commissioner during regular business hours of the supervising entity.
(4)
Notwithstanding any other provision of law, a license issued pursuant to this part 15 authorizes the licensee and its employees or authorized representatives to engage in those activities that are permitted in this part 15.
L. 2012: Entire part added, (HB 12-1071), ch. 25, p. 69, § 1, effective 1/1/2013.
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 15 - PORTABLE ELECTRONICS INSURANCE (§§ 10-4-1501 — 10-4-1507) › Section 10-4-1503 - Requirements for sale of portable electronics insurance

(1)
At every location where portable electronics insurance is offered to customers, the vendor shall make brochures or other written materials available to a prospective customer that:
(a)
Disclose that portable electronics insurance may provide a duplication of coverage already provided by a customer's homeowner's insurance policy, renter's insurance policy, or other source of coverage;
(b)
State that the enrollment by the customer in a portable electronics insurance program is not required in order to purchase or lease portable electronics or services;
(c)
Summarize the material terms of the insurance coverage, including:
(I)
The identity of the insurer;
(II)
The identity of the supervising entity;
(III)
The amount of any applicable deductible and how it is to be paid;
(IV)
Benefits of the coverage; and
(V)
Key terms and conditions of coverage, such as whether portable electronics may be repaired or replaced with similar make and model reconditioned or nonoriginal manufacturer parts or equipment;
(d)
Summarize the process for filing a claim, including a description of how to return portable electronics and the maximum fee applicable if the customer fails to comply with any equipment return requirements; and
(e)
State that an enrolled customer may cancel enrollment for coverage under a portable electronics insurance policy at any time, and that the person paying the premium will receive a refund of any applicable unearned premium.
(2)
An insurer may offer portable electronics insurance on a month-to-month or other periodic basis as a group or master commercial inland marine policy issued to a vendor of portable electronics for its enrolled customers.
(3)
A policy of insurance provides primary coverage in the event of a covered loss under more than one policy.
(4)
Each insurer shall establish eligibility and underwriting standards for customers electing to enroll in coverage for each portable electronics insurance program.
L. 2012: Entire part added, (HB 12-1071), ch. 25, p. 69, § 1, effective 1/1/2013.
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 15 - PORTABLE ELECTRONICS INSURANCE (§§ 10-4-1501 — 10-4-1507) › Section 10-4-1505 - Suspension or revocation of license

(1)
If a vendor of portable electronics or its employee or authorized representative violates this part 15, the commissioner may take disciplinary action against the vendor in accordance with part 8 of article
2
of this title. A fine imposed as disciplinary action shall not exceed five thousand dollars in the aggregate for multiple violations arising from the same or similar conduct.
(2)
In addition to other penalties authorized by part 8 of article
2
of this title, the commissioner may:
(a)
Suspend the privilege of transacting portable electronics insurance pursuant to this part 15 at specific business locations where violations have occurred; and
(b)
Suspend or revoke the ability of individual employees or authorized representatives to act under the license.
L. 2012: Entire part added, (HB 12-1071), ch. 25, p. 71, § 1, effective 1/1/2013.
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 15 - PORTABLE ELECTRONICS INSURANCE (§§ 10-4-1501 — 10-4-1507) › Section 10-4-1507 - Application for license - fees

(1)
An applicant for a license under this part 15 shall apply for a license in accordance with section
10-2-404
; except that, in lieu of providing information for all officers, partners, and directors as required by section
10-2-404 (2)
, the required information to be submitted for a license pursuant to this part 15 is limited to the information pertaining to an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with this part 15. If the vendor derives more than fifty percent of its revenue from the sale of portable electronics insurance, the vendor shall provide the location of the home office, name, residence address, and other information required by the commissioner for all officers, directors, and shareholders of record having beneficial ownership of ten percent or more of any class of securities registered under the federal securities laws.
(2)
For purposes of complying with section
10-2-404 (2)(d)
, the licensed producer designated by an applicant is not required to be an officer, partner, employee, or director of the applicant.
(3)
An applicant for a license pursuant to this part 15 is exempt from the requirements of sections
10-2-404 (2)(f)
and
10-2-406
.
(4)
Any vendor engaging in portable electronics insurance transactions on or before January 1, 2013, shall apply for licensure within ninety days after January 1, 2013. Any applicant commencing operations after January 1, 2013, shall obtain a license before offering portable electronics insurance.
L. 2012: Entire part added, (HB 12-1071), ch. 25, p. 73, § 1, effective 1/1/2013.
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 16 - CONSUMER GOODS SERVICE CONTRACTS (§§ 10-4-1601 — 10-4-1609) › Section 10-4-1602 - Exemptions

(1)
The following items are exempt from this part 16:
(a)
Warranties;
(b)
Maintenance agreements;
(c)
Service contracts offered by public utilities on their transmission devices to the extent they are regulated by the public utilities commission;
(d)
Service contracts sold or offered for sale to persons other than consumers;
(e)
Service contracts on tangible property where the tangible property for which the service contract is sold has a purchase price of one hundred dollars or less, exclusive of sales tax;
(f)
Home warranty service contracts governed by part 9 of article
10
of title
12
;
(g)
Motor vehicle service contracts governed by article
11
of title
42
, C.R.S.; and
(h)
A builder's warranty provided in connection with the sale of a new home.
Amended by 2019 Ch. 136, § 37, eff. 10/1/2019.
Amended by 2015 Ch. 81, § 7, eff. 8/5/2015.
Added by 2014 Ch. 204, § 2, eff. 1/1/2015.
L. 2014: Entire part added, (HB 14-1199), ch. 743, p. 743, § 2, effective 1/1/2015. L. 2015: (1)(f) and (1)(g) amended and (1)(h) added, (HB 15 -1223), ch. 235, p. 235, § 7, effective August 5. L. 2019: (1)(f) amended, (HB 19-1172), ch. 1652, p. 1652, § 37, effective October 1.
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 16 - CONSUMER GOODS SERVICE CONTRACTS (§§ 10-4-1601 — 10-4-1609) › Section 10-4-1604 - Obligations of reimbursement insurance companies

(1)
Insurers issuing reimbursement insurance policies to providers are deemed to have received the premiums for this insurance upon the payment of provider fees by consumers for service contracts issued by the insured providers.
(2)
If the provider does not provide covered service within sixty days after proof of loss by the service contract holder, the contract holder may apply directly to the reimbursement insurance company.
(3)
This part 16 does not prevent or limit the right of a reimbursement insurance company that issued a reimbursement insurance policy to seek indemnification or subrogation against a provider if the reimbursement insurance company pays or is obligated to pay the service contract holder sums that the provider was obligated to pay pursuant to the provisions of the service contract.
(4)
An insurer that issued a reimbursement insurance policy to a provider shall not terminate the policy until a notice of termination has been mailed or delivered to the insured provider as required by applicable law with a copy of the notice provided to the commissioner. The termination of a reimbursement insurance policy does not reduce the issuer's responsibility for service contracts issued by providers prior to the date of the termination.
Added by 2014 Ch. 204, § 2, eff. 1/1/2015.
L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 746, § 2, effective 1/1/2015.
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 16 - CONSUMER GOODS SERVICE CONTRACTS (§§ 10-4-1601 — 10-4-1609) › Section 10-4-1605 - Required disclosures - reimbursement insurance policy

(1)
Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale must state that the reimbursement insurance company shall either:
(a)
Reimburse or pay on behalf of the provider any covered sums the provider is obligated to pay under the service contract; or
(b)
In the event of the provider's nonperformance, provide the service that the provider must perform according to the terms and conditions of the service contract.
Added by 2014 Ch. 204, § 2, eff. 1/1/2015.
L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 747, § 2, effective 1/1/2015.
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 16 - CONSUMER GOODS SERVICE CONTRACTS (§§ 10-4-1601 — 10-4-1609) › Section 10-4-1607 - Prohibited acts

(1)
(a)
A provider shall not use in its name:
(I)
The words "insurance", "casualty", "surety", "mutual", or any other words descriptive of the insurance, casualty, or surety business; or
(II)
A name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider. The word "guaranty" or similar word may be used by a provider.
(b)
(I)
This section does not apply to a provider that was using any of the prohibited language in its name prior to January 1, 2015.
(II)
A provider using the prohibited language in its name shall include in its service contracts a statement in substantially the following form: "This agreement is not an insurance contract."
(2)
A provider or its representative shall not in its service contracts or literature make, permit, or cause to be made any false or misleading statement, or deliberately omit any material statement that would be considered misleading if omitted.
(3)
A manufacturer or seller of any product shall not require the purchase of a service contract as a condition for the sale of any property.
(4)
Nothing in this section limits or prohibits a person from pursuing any claim, cause of action, or right available under Colorado law.
Added by 2014 Ch. 204, § 2, eff. 1/1/2015.
L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 748, § 2, effective 1/1/2015.
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 16 - CONSUMER GOODS SERVICE CONTRACTS (§§ 10-4-1601 — 10-4-1609) › Section 10-4-1608 - Required record keeping

(1)
A provider shall keep accurate accounts, books, and records concerning transactions regulated under this part 16.
(2)
A provider's accounts, books, and records must include:
(a)
Copies of each type of service contract sold;
(b)
The name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder;
(c)
A list of the locations where service contracts are marketed, sold, or offered for sale; and
(d)
Written claims files containing at least the dates and descriptions of all claims related to the service contracts.
(3)
Except as set forth in subsection (5) of this section, a provider shall retain all records required under this section for at least one year after the specified period of coverage has expired.
(4)
The records required under this section may be, but are not required to be, maintained in electronic form or other record-keeping technology. If the records are maintained in other than hard copy, the records must be capable of duplication to legible hard copy at the request of the commissioner.
(5)
A provider discontinuing business in this state shall maintain its records until it has discharged all obligations to contract holders in this state.
Added by 2014 Ch. 204, § 2, eff. 1/1/2015.
L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 749, § 2, effective 1/1/2015.
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 16 - CONSUMER GOODS SERVICE CONTRACTS (§§ 10-4-1601 — 10-4-1609) › Section 10-4-1609 - Enforcement provisions - rules

(1)
(a)
The commissioner may conduct market examinations or financial examinations of providers under sections
10-1-201
to
10-1-205
to enforce this part 16.
(b)
Upon the commissioner's request, the provider shall make available to the commissioner all accounts, books, and records concerning service contracts sold by the provider that are necessary to enable the commissioner to reasonably determine the provider's compliance or noncompliance with this part 16 and the commissioner's rules adopted in furtherance of this part 16.
(2)
The provider examined in any financial or market conduct examination shall bear the cost of the examination in accordance with section
10-1-205 (4)
.
(3)
(a)
If a provider violates this part 16, the commissioner may take the following disciplinary actions:
(I)
Issue an order directing the provider to cease and desist from committing violations of this part 16;
(II)
Issue an order prohibiting a service contract provider from selling or offering for sale service contracts in violation of this part 16;
(III)
Issue an order imposing a civil penalty on the provider; or
(IV)
Any combination of the actions set forth in subparagraphs (I) to (III) of this paragraph (a).
(b)
Any civil penalty assessed by the commissioner is limited to not more than five hundred dollars per violation and not more than ten thousand dollars in the aggregate for all violations of a similar nature. For purposes of this paragraph (b), violations are of a similar nature if the violations consist of the same or similar course of conduct, action, or practice, regardless of the number of times the noncompliant act, conduct, or practice occurred.
(c)
A person aggrieved by any action taken or penalty assessed under this subsection (3) may request a review in accordance with section
10-1-205 (4)
.
(4)
(a)
The commissioner may bring an action in any court of competent jurisdiction for an injunction or other appropriate relief to address threatened or existing violations of this part 16.
(b)
An action filed under this subsection (4) may also seek restitution on behalf of persons aggrieved by a violation of this part 16 or orders or rules of the commissioner.
(5)
The commissioner may promulgate rules to implement the provisions of this part 16.
Added by 2014 Ch. 204, § 2, eff. 1/1/2015.
L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 749, § 2, effective 1/1/2015.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1701 - Definitions

As used in this part 17, unless the context otherwise requires:
(1)
"Business entity" includes an individual working for or acting on behalf of the self-storage retailer.
(2)
"Insurer" means an admitted company or authorized company, as defined in section
10-1-102(3)
, approved to transact insurance in this state.
(3)
"Occupant" means a person or his or her lessee, successor, or assignee entitled to the use of a self-storage space at a self-service storage facility, to the exclusion of others, under a self-storage rental agreement.
(4)
"Offer and disseminate" means to provide general information about self-storage insurance, including a description of the coverage and price, as well as processing the application, collecting premiums, and performing other nonlicenseable activities permitted by the state.
(5)
"Self-service storage facility" means real property designed and used for the sole purpose of renting or leasing individual storage space to occupants who are given access to a self-storage space for the sole purpose of storing and removing personal property.
(6)
"Self-storage insurance" means insurance coverage for property loss incidental to the rental of a self-storage space at a self-service storage facility.
(7)
"Self-storage rental agreement" means a written agreement setting forth the terms and conditions governing the use of a self-storage space provided by a self-service storage facility for rent or lease.
(8)
"Self-storage retailer" means a business entity that rents self-storage units and may offer and disseminate self-storage insurance as a service to its customers on behalf of and under the direction of a supervising entity.
(9)
"Self-storage space" means a designated storage unit or other designated space at a self-service storage facility.
(10)
"Supervising entity" means a business entity or person that is a limited line producer, as that term is defined in section
10-2-103
(7.3), authorized by an insurer to supervise a self-storage retailer.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1914, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1702 - Authority to issue license

(1)
A supervising entity must hold a limited lines self-storage insurance producer license issued by the division in accordance with part 4 of article
2
of this title 10 in order to sell, solicit, or negotiate self-storage insurance.
(2)
An employee or authorized representative of a self-storage retailer may offer and disseminate self-storage insurance to a customer at each self-storage retailer location at which the employee or authorized representative is supervised by a supervising entity.
(3)
An employee or authorized representative of a self-storage retailer shall not advertise, represent, or otherwise hold himself or herself out as a licensed insurer, insurance agent, or insurance producer, and shall neither evaluate nor interpret the technical terms, benefits, or conditions of the offered self-storage insurance with the occupant or evaluate or provide advice concerning an occupant's existing insurance coverage.
(4)
Unless the self-storage retailer is a supervising entity, the self-storage retailer shall not advertise, represent, or otherwise hold itself out as a licensed insurer, insurance agent, or insurance producer, and shall neither evaluate nor interpret the technical terms, benefits, or conditions of the offered self-storage insurance with the occupant or evaluate or provide advice concerning an occupant's existing insurance coverage.
(5)
A supervising entity shall maintain a registry of self-storage retailer locations that are authorized to offer and disseminate self-storage insurance coverage in this state. Upon request by the commissioner and with ten days' notice to the supervising entity, the supervising entity shall make the registry open to inspection and examination by the commissioner during regular business hours of the supervising entity.
(6)
Notwithstanding any other provision of law, a license issued pursuant to this part 17 authorizes the licensee and its employees or authorized representatives to engage in those activities that are permitted in this part 17.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1915, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1703 - License - application - restrictions

(1)
(a)
Before being issued a limited lines self-storage insurance producer license, a person must submit an application for a limited lines self-storage license in accordance with section
10-2-404
; except that the applicant is not required to provide the information specified in section
10-2-404(2)
.
(b)
A supervising entity is responsible for compliance with this part 17. If a self-storage retailer has more than one supervising entity, the commissioner may hold all supervising entities responsible for a violation of this part 17 in accordance with section
10-4-1709
. If a self-storage retailer derives more than fifty percent of its revenue from the sale of limited lines self-storage insurance, the self-storage retailer shall provide the location of the self-storage retailer's home office and the name, residential address, and other information required by the commissioner for all officers, directors, and shareholders of record having beneficial ownership of ten percent or more of any class of the self-storage retailer's securities registered under federal securities laws. For purposes of this section:
(I)
A supervising entity is not required to be an officer, partner, or director of the self-storage retailer; and
(II)
The applicant for a limited lines self-storage insurance producer license pursuant to this part 17 is exempt from the requirements of section
10-2-406
.
(c)
By July 1, 2018, a person engaged in the sale, solicitation, or negotiation of self-storage insurance before August 9, 2017, shall either apply for a limited lines self-storage insurance producer license or cease engaging in the sale of self-storage insurance. To sell, solicit, or negotiate self-storage insurance on or after July 1, 2018, a person must first obtain a limited lines self-storage insurance producer license. A limited lines self-storage insurance producer license application must be accompanied by a fee prescribed by the commissioner in accordance with section
10-2-413
. A limited lines self-storage insurance producer license must be renewed as set forth in section
10-2-408
.
(2)
A supervising entity may sell, solicit, or negotiate, or offer to sell, solicit, or negotiate, self-storage insurance only in connection with, and incidental to, the rental of a self-storage space in a self-service storage facility. The self-storage insurance may provide coverage only for damage or loss to the personal property of the occupant contained in the self-storage space.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1916, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1704 - Disclosures to occupant

(1)
Before issuing a policy under this part 17, a self-storage retailer shall provide an occupant with a written self-storage insurance policy or self-storage insurance certificate that:
(a)
Summarizes clearly and correctly the material terms of coverage offered to the occupant, including the identity and contact information of both the insurer and the supervising entity;
(b)
States the benefits of coverage;
(c)
States that the self-storage insurance being offered may provide a duplication of insurance coverage already provided by a homeowner's insurance policy or other source of coverage in effect for the occupant. The statement must include a space that allows the occupant to write the occupant's initials to signify the occupant's acknowledgment and understanding of the potential duplication referenced in this subsection (1)(c). The retailer shall specifically bring the potential duplication referenced in this subsection (1)(c) and the opportunity to write the occupant's initials to the occupant's attention by orally offering the occupant an opportunity to read the statement and write the occupant's initials in the space provided.
(d)
States the deductible of the self-storage insurance coverage and describes the process for filing a claim;
(e)
States whether the policy covers flood damage to stored property; and
(f)
States that the self-storage retailer can answer general information about the self-storage insurance offered, including a description of the coverage and premium, but is neither qualified nor authorized to answer technical questions about the terms and conditions of the self-storage insurance offered and disseminated by the supervising entity or to evaluate the adequacy of the occupant's existing insurance coverage, if any.
(2)
If the self-storage rental agreement requires the occupant to provide proof of insurance, this insurance coverage requirement may be satisfied if the occupant:
(a)
Purchases this coverage from a self-storage retailer; or
(b)
Provides evidence of this coverage from another source.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1917, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1705 - Supervision of issuance - training

(1)
A supervising entity shall supervise the administration of the offering and disseminating of self-storage insurance. The supervising entity shall develop a training program for the offering and disseminating of the self-storage insurance and shall require any individual working for or acting on behalf of the self-storage retailer to attend the training.
(2)
The training program required pursuant to subsection (1) of this section is mandatory for any individual working for or acting on behalf of a self-storage retailer that is directly engaged in the activity of offering or disseminating self-storage insurance and must include the following:
(a)
An education program regarding self-storage insurance that is conducted and overseen by the supervising entity;
(b)
Instruction to any individual or business entity working for or acting on behalf of a self-storage retailer about the self-storage insurance offered to occupants and the disclosures required pursuant to this part 17; and
(c)
Instruction that any individual or business entity working for or acting on behalf of a self-storage retailer shall not:
(I)
Advertise, represent, or otherwise hold himself or herself out as a licensed insurance producer of any kind; or
(II)
Evaluate or interpret technical terms, benefits, or conditions of the offered self-storage insurance or evaluate an occupant's existing insurance coverage, if the occupant has any such coverage.
(3)
The self-storage retailer may bill and collect premiums for self-storage insurance. These self-storage insurance premiums must be separately itemized if they are not included in the cost of the rental. If the premiums are included in the cost of the rental of the self-storage space, a supervising entity shall ensure that it is clearly and conspicuously disclosed to the occupant that the self-storage insurance is included with the rental fees for the self-storage space. A supervising entity shall establish a separate fiduciary account for the collected coverage premiums but is not required to segregate the individual occupants' premiums in that account. A supervising entity shall remit the coverage premium charges to the insurer within sixty days after receipt. All coverage premiums held by a supervising entity are held in trust by the supervising entity in a fiduciary capacity for the benefit of the insurer.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1918, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1706 - Compensation

(1)
This part 17 does not prohibit the payment or receipt of related compensation in the form of a commission, service fee, brokerage, or other valuable consideration for the sale of self-storage insurance that the supervising entity is authorized to sell, solicit, or negotiate under this part 17 if the supervising entity was duly licensed under this part 17 for the performance of the services and has met all conditions as set forth in this part 17.
(2)
Notwithstanding any other provision of law, a self-storage retailer shall not compensate employees based primarily on the number of occupants enrolled for limited lines self-storage insurance, but the self-storage retailer may compensate employees for activities under the limited lines employee's or supervising entity's overall compensation.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1918, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1707 - Exemption from requirements

Notwithstanding any other provision of this part 17, rule promulgated by the commissioner, or order issued by the commissioner, a supervising entity is not required to meet the prelicensure educational requirements in section
10-2-201
, continuing education requirements in section
10-2-301
, or examination requirements in section
10-2-402
.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1919, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1708 - Notification

(1)
Notwithstanding any other provision of law:
(a)
(I)
Whenever written notice or correspondence with respect to a policy is required, the insurer shall send the notice within the notice period, if any, specified by law and may send notices and correspondence by either mail or electronic means. For purposes of this subsection (1)(a)(I), an occupant's provision of an e-mail address to the insurer or supervising entity is consent to receive written notices and correspondence by electronic means.
(II)
If the written notice is mailed, the insurer shall send it to the supervising entity at the supervising entity's address as well as to the last-known address of the occupant and shall maintain proof of mailing in a form authorized or accepted by the United States postal service or other commercial mail delivery service.
(III)
If the written notice is sent by electronic means, the insurer shall send it to the supervising entity at the supervising entity's e-mail address and to the occupant's last-known e-mail address as provided by the occupant and shall maintain proof that the written notice was sent.
(b)
A supervising entity may send any notice or correspondence required by this section or otherwise required by law on behalf of the insurer or self-storage retailer.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1919, § 1, effective August 9.
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 17 - SELF-STORAGE INSURANCE LIMITED LICENSES (§§ 10-4-1701 — 10-4-1709) › Section 10-4-1709 - Enforcement

(1)
The commissioner may, after notice and opportunity for a hearing, respond to a violation of a provision of this part 17 by:
(a)
Taking disciplinary action against any supervising entity pursuant to section
10-2-801
;
(b)
Imposing other penalties, including suspending the license of a supervising entity for a violation of this part 17, as the commissioner considers necessary or convenient to carry out this part 17; or
(c)
Suspending or revoking the ability of any individual working for or acting on behalf of a self-storage retailer to act under the limited lines self-storage insurance producer license.
Added by 2017 Ch. 368,§ 1, eff. 8/9/2017.
L. 2017: Entire part added, (HB 17-1263), ch. 368, p. 1919, § 1, effective August 9.