reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 44 - INSURANCE (§§ 8-44-101 — 8-44-206) › Part 1 - GENERAL PROVISIONS (§§ 8-44-101 — 8-44-116) › Section 8-44-115 - Calculation of premium - motor vehicle accidents

(1)
The amount by which an employer's experience rating is modified, if at all, as the result of a motor vehicle accident in which an employee is injured or killed shall be reduced in accordance with this section if:
(a)
The employee is entitled to benefits under articles
40
to
47
of this title; and
(b)
The accident was not caused, wholly or in part, by the employee or the employer; and
(c)
The use of a motor vehicle is not an integral part of the employer's business, as determined under rules promulgated by the commissioner of insurance under section
10-4-408(5)(e)
, C.R.S.
(2)
(a)
Any modification of an employer's experience rating resulting from an accident described in subsection (1) of this section shall reflect the deduction of a loss limitation, the amount of which shall be determined by the commissioner of insurance under rules adopted pursuant to section
10-4-408(5)(e)
, C.R.S.
(b)
All loss experience remaining after deduction of the loss limitation referred to in paragraph (a) of this subsection (2) shall be distributed among all workers' compensation classifications in use in the state as determined by the commissioner of insurance. For purposes of such distribution, classifications of businesses of which use of a motor vehicle is an integral part may be treated differently from classifications of businesses of which use of a motor vehicle is not an integral part.
(3)
This section applies to all insurers, including Pinnacol Assurance created in section
8-45-101
, offering workers' compensation insurance under articles
40
to
47
of this title. The provisions of this section shall be disclosed to all policyholders annually.
L. 94: Entire section added, p. 1366, § 1, effective October 1. L. 2002: (3) amended, p. 1887, § 43, effective July 1.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 44 - INSURANCE (§§ 8-44-101 — 8-44-206) › Part 1 - GENERAL PROVISIONS (§§ 8-44-101 — 8-44-116) › Section 8-44-116 - Reversionary interests in indemnity benefits prohibited

No provision in a contract for insurance regulated by this article or any contract ancillary to such a contract, including specifically a contract setting up an annuity for indemnity benefits, shall establish a reversionary interest in the insurer for the indemnity benefits. Any such provision is void and unenforceable as against public policy.
L. 2010: Entire section added, (SB 10-011), ch. 302, p. 1433, §4, effective May 27.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 44 - INSURANCE (§§ 8-44-101 — 8-44-206) › Part 2 - SELF-INSUREDS (§§ 8-44-201 — 8-44-206) › Section 8-44-201 - Employer as own insurance carrier - revocation of permission

(1)
The executive director has the discretion to grant to any employer who has accepted the provisions of articles
40
to
47
of this title permission to be its own insurance carrier for the payment of the compensation and benefits provided by said articles. Such permission may be granted by the executive director after the filing by an employer of such statement and the giving of such information as may be required by the executive director. The executive director has the sole power to prescribe the rules, regulations, orders, terms, and conditions upon which said permit shall be granted or continued. Permission for self-insurance may be revoked at any time by the executive director, and the employer, upon notice of revocation, shall immediately insure otherwise all liability.
(2)
Notwithstanding the provisions of subsection (1) of this section, the executive director shall not prescribe or apply security requirements in granting or continuing permission for the self-insurance program of the department of human services established pursuant to section
8-44-203
but shall provide instead for alternatives to such security requirements including trust funds, surety bonds, excess insurance, or other security acceptable to the executive director. The alternative security requirements provided by this subsection (2) shall apply only to claims arising on or after July 1, 1985, and before July 1, 1990. The trust fund in existence on May 24, 1990, pursuant to the trust agreement between the department of human services, a third party administrator, and the state treasurer, dated June 27, 1985, shall remain in existence through June 30, 1990.
(3)
Notwithstanding the provisions of subsection (1) of this section, the executive director shall not prescribe or apply security requirements in continuing permission for an employer which is acting as its own insurance carrier on July 1, 1986, which are in excess of those security requirements in effect on July 1, 1986, unless there is a substantial change in the economic condition or potential liability of such employer.
(4)
Notwithstanding the provisions of subsection (1) of this section, the executive director shall not prescribe or apply security requirements in granting or continuing permission for a self-insurance program established by the state pursuant to section
24-30-1510.7
, C.R.S.
L. 90: Entire article R&RE, p. 525, § 1, effective July 1; (2) amended, p. 1199, § 12, effective July 1. L. 94: (2) amended, p. 2635, § 73, effective July 1. L. 97: (4) added, p. 51, § 1, effective July 1.
This section is similar to former § 8-44-109 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 44 - INSURANCE (§§ 8-44-101 — 8-44-206) › Part 2 - SELF-INSUREDS (§§ 8-44-201 — 8-44-206) › Section 8-44-202 - Workers' compensation self-insurance fund - created

(1)
The executive director shall establish and collect such fees as the executive director determines are necessary to administer this section, which fees shall not supplant funding for any other function of the department of labor and employment. The fees established pursuant to this subsection (1) shall not exceed two thousand dollars for an initial application or for an annual review of any employer acting as a self-insurer under this section.
(2)
The executive director shall transmit any moneys received pursuant to subsection (1) of this section to the state treasurer, who shall place such moneys in the workers' compensation self-insurance fund, which fund is hereby created. The general assembly shall make appropriations from such fund for the purposes of administering this section.
L. 90: Entire article R&RE, p. 526, § 1, effective July 1; (1) amended, p. 583, § 2, effective July 1.
This section is similar to former § 8-44-109 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 44 - INSURANCE (§§ 8-44-101 — 8-44-206) › Part 2 - SELF-INSUREDS (§§ 8-44-201 — 8-44-206) › Section 8-44-203 - Department of human services - self-insurance program

The general assembly hereby finds and declares that a program shall be established by the department of human services and the department of labor and employment to provide for a self-insurance program for the department of human services, which shall apply only to claims arising on or after July 1, 1985, and before July 1, 1990.
L. 90: Entire article R&RE, p. 526, § 1, effective July 1; entire section amended, p. 1200, § 13, effective July 1. L. 94: Entire section amended, p. 2636, § 74, effective July 1.
This section is similar to former § 8-44-109 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-103 - Board to fix rates - chief executive officer to administer rates - sue and be sued - personal liability limited

(1)
The board shall have full power and it is its duty to fix and determine the rates to be charged by Pinnacol Assurance for compensation insurance.
(2)
The chief executive officer shall manage and conduct all business and affairs in relation to the rates to be charged by Pinnacol Assurance for compensation insurance which shall be conducted in the name of Pinnacol Assurance, and in that name, without any other name, title, or authority, the chief executive officer may:
(a)
(I)
Sue and be sued in all the courts of this state, or of any other state, or of the United States, and in actions arising out of any act, deed, matter, or thing made, omitted, entered into, done, or suffered in connection with Pinnacol Assurance and the administration, management, or conduct of the business or affairs relating thereto; and the chief executive officer shall be authorized to employ counsel to represent Pinnacol Assurance in any action.
(II)
Nothing in this paragraph (a) shall be construed to waive any provisions of the "Colorado Governmental Immunity Act", article
10
of title
24
, C.R.S., nor shall it be construed to waive immunity of the state of Colorado from suit in federal court, guaranteed by the eleventh amendment to the constitution of the United States.
(b)
The chief executive officer shall not, nor shall any officer or employee of Pinnacol Assurance, or entities or parties with whom it contracts for services, be personally liable in a private capacity for or on account of any act done or omitted or contract or other obligation entered into or undertaken in an official capacity in good faith and without intent to defraud in connection with the administration, management, or conduct of Pinnacol Assurance, its business, or other affairs relating thereto.
(c)
(Deleted by amendment, L. 2002, p. 1870, § 3, effective July 1, 2002.)
L. 90: Entire article R&RE, p. 534, § 1, effective July 1. L. 2002: Entire section amended, p. 1870, § 3, effective July 1.
This section is similar to former § 8-54-105 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-104 - [Repealed]

L. 90: Entire article R&RE, p. 535, § 1, effective July 1. L. 2002: Entire section repealed, p. 1871, § 4, effective July 1.
Prior to its repeal in 2002, this section was similar to former § 8-54-126 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-105 - Places of employment classified - amount of premiums

(1)
The board may classify the places of employment of employers insured by Pinnacol Assurance into classes in accordance with the nature of the business in which they are engaged and the probable hazard or risk of injury to their employees. It shall determine the amount of the premiums that such employers shall pay to Pinnacol Assurance, and may prescribe in what manner such premiums shall be paid, and may change the amount thereof both in respect to any or all of such employers as circumstances may require, and the condition of their respective plants, establishments, or places of work in respect to the safety of their employees may justify. All such premiums shall be levied on a basis that shall be fair, equitable, and just as among such employers.
(2)
(Deleted by amendment, L. 2002, p. 1871, § 5, effective July 1, 2002.)
L. 90: Entire article R&RE, p. 535, § 1, effective July 1. L. 2002: Entire section amended, p. 1871, § 5, effective July 1.
This section is similar to former § 8-54-107 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-106 - Insurance at cost - board may impose surcharges

(1)
It is the duty of the board, in the exercise of the powers and discretion conferred upon it by articles
40
to
47
of this title, ultimately to fix and maintain, for each class of occupation, the lowest possible rates of premium consistent with the maintenance of a solvent Pinnacol Assurance fund, and the creation and maintenance of a reasonable surplus after the payment of legitimate claims for injury and death, that may be authorized to be paid from the Pinnacol Assurance fund for the benefit of injured and dependents of killed employees.
(2)
The board may impose a premium surcharge, not to exceed an additional fifty percent, for up to twelve continuous months, as a condition precedent to insure or reinsure an employer whose policy was canceled or terminated by any insurer for reasons of fraud or intentional misrepresentation of a material fact; except that, if an employer disputes the imposition of such surcharge, the employer may make a complaint to the commissioner of insurance. If the commissioner of insurance determines that the board, in imposing a premium surcharge, has engaged in any conduct in violation of part 11 of article
3
of title
10
, C.R.S., the commissioner may take any action the commissioner deems appropriate and authorized by law.
L. 90: Entire article R&RE, p. 536, § 1, effective July 1. L. 97: Entire section amended, p. 936, § 2, effective May 21. L. 2002: (1) amended, p. 1872, § 6, effective July 1.
This section is similar to former § 8-54-109 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-107 - Basis of rates - reserve - surplus

(1)
The rates shall be the percentage of the payroll of any employer that, on the average, shall produce a sufficient sum to:
(a)
Carry all claims to maturity such that the rates shall be based upon the reserve and not upon the assessment plan;
(b)
Produce a reasonable surplus as provided in articles
40
to
47
of this title, cover the catastrophe hazard, and ensure the payment to employees and their dependents of the compensation provided in said articles.
(2)
In determining the amount of reserve to be laid aside to meet deferred payments according to awards, such reserve may be ascertained by finding the present worth of such deferred medical and indemnity payments calculated at a rate of interest not higher than six percent per annum, and such calculations of disability indemnity benefits shall be made according to a table of mortality not lower than the American experience table of mortality and, in the discretion of the board, by such other and further methods as will result in the establishment of adequate reserves.
(3)
The amounts raised for the Pinnacol Assurance fund shall ultimately become neither more nor less than necessary to make the fund self-supporting, which includes the attainment and maintenance of an adequate surplus as determined in accordance with section
8-45-111
, and the premiums or rates levied for such purpose shall be subject to readjustment from time to time by the board as may become necessary.
L. 90: Entire article R&RE, p. 536, § 1, effective July 1. L. 91: (3) amended, p. 1362, § 2, effective July 1. L. 2002: Entire section amended, p. 1872, § 7, effective July 1.
This section is similar to former § 8-54-110 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-108 - [Repealed]

L. 90: Entire article R&RE, p. 536, § 1, effective July 1. L. 94: Entire section repealed, p. 1719, § 15, effective July 1.
Prior to its repeal in 1994, this section was similar to former § 8-54-125 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-109 - [Repealed]

L. 90: Entire article R&RE, p. 536, § 1, effective July 1. L. 2002: Entire section repealed, 1873, § 8, effective July 1.
Prior to its repeal in 2002, this section was similar to former § 8-54-127 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-110 - [Repealed]

L. 90: Entire article R&RE, p. 537, § 1, effective July 1. L. 2002: Entire section repealed, p. 1873, § 9, effective July 1.
Prior to its repeal in 2002, this section was similar to former § 8-54-111 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-111 - Portions of premiums paid carried to surplus

The board shall set aside such proportion as it may deem necessary of the earned premiums paid into the Pinnacol Assurance fund, as a contribution to the surplus of the fund.
L. 90: Entire article R&RE, p. 537, § 1, effective July 1. L. 97: Entire section amended, p. 936, § 3, effective May 21. L. 2002: Entire section amended, p. 1873, § 10, effective July 1. L. 2003: Entire section amended, p. 2201, § 4, effective July 1. L. 2010: Entire section amended, (HB 10-1220), ch. 197, p. 854, §15, effective July 1.
This section is similar to former § 8-54-112 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-112 - Amendment of rates - distribution to policyholders

The board may amend at any time the rates for any class. No contract of insurance between Pinnacol Assurance and any employer shall be in effect until a policy or binder has been actually issued by the board and the premium therefor paid as and when required by this article. Not less often than once a year the chief executive officer shall tabulate the earned premiums paid by policyholders of Pinnacol Assurance. Should the experience of the Pinnacol Assurance fund show a credit balance and after payment of all amounts that have fallen due because of operating expenses, injury, or death, and after setting aside proper reserves, the board shall distribute such credit balance to the policyholders who have a balance to their credit in proportion to the premium paid and losses incurred by each such policyholder during the preceding insurance period. In the event any such policyholder fails to renew a policy with Pinnacol Assurance for the period following the period in which said dividends were earned, said policyholder shall be entitled to said credit dividend if such policy is terminated in good standing. In the event an employer actually discontinues business, said employer's policy shall be canceled, and the dividend, if any, when ascertained, shall be returned to the employer.
L. 90: Entire article R&RE, p. 537, § 1, effective July 1. L. 2002: Entire section amended, p. 1873, § 11, effective July 1.
This section is similar to former § 8-54-113 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-113 - New policies issued - when

Pinnacol Assurance shall not be required to issue a new policy of insurance to an employer until all moneys due Pinnacol Assurance have been paid, all premiums have been paid on all canceled policies, and the employer has complied with all provisions of such canceled policies.
L. 90: Entire article R&RE, p. 537, § 1, effective July 1. L. 93: Entire section amended, p. 61, § 1, effective March 22. L. 95: Entire section amended, p. 63, § 1, effective March 23. L. 97: (1)(c) added, p. 936, § 4, effective May 21. L. 2002: Entire section R&RE, p. 1874, § 12, effective July 1.
This section is similar to former § 8-54-114 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-114 - [Repealed]

L. 90: Entire article R&RE, p. 538, § 1, effective July 1. L. 2002: Entire section repealed, p. 1874, § 13, effective July 1.
Prior to its repeal in 2002, this section was similar to former § 8-54-115 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-115 - [Repealed]

L. 90: Entire article R&RE, p. 538, § 1, effective July 1. L. 94: (1) amended, p. 1286, § 3, effective May 22. L. 2002: Entire section repealed, p. 1874, § 14, effective July 1.
Prior to its repeal in 2002, this section was similar to former § 8-54-116 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-116 - [Repealed]

L. 90: Entire article R&RE, p. 539, § 1, effective July 1. L. 95: Entire section amended, p. 987, § 2, effective May 25. L. 2002: Entire section repealed, p. 1875, § 15, effective July 1.
Prior to its repeal in 2002, this section was similar to former § 8-54-120 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-119 - State treasurer to give separate bond as custodian

(1)
The state treasurer shall give a separate and additional bond in such amount as may be fixed by the board with sureties to be approved by the governor, conditioned for the faithful performance of the state treasurer's duties as custodian of the Pinnacol Assurance fund, and as custodian of all the bonds, warrants, investments, and moneys of, or belonging to, said Pinnacol Assurance fund, subject to all provisions of law governing bonds of the state treasurer. The premium on said bond shall be paid out of the earnings of the Pinnacol Assurance fund.
(2)
The state treasurer shall give a separate and additional bond in such amount as may be fixed by the executive director of the department of labor and employment with sureties to be approved by the governor, conditioned for the faithful performance of the state treasurer's duties as custodian of the funds under the jurisdiction of the director of the division of workers' compensation, and as custodian of all the bonds, warrants, investments, and moneys of, or belonging to, the funds under the jurisdiction of the director of the division of workers' compensation, subject to all provisions of law governing bonds of the state treasurer. The premium on said bond shall be paid out of the earnings of the funds under the jurisdiction of the director of the division of workers' compensation on a pro rata basis.
L. 90: Entire article R&RE, p. 540, § 1, effective July 1. L. 2002: (1) amended, p. 1877, § 18, effective July 1.
This section is similar to former § 8-54-123 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-120 - State treasurer to invest funds

(1)
Except as provided in subsection (2) of this section, the state treasurer, after consulting with the board of directors or the board's designated committee as to the overall direction of the portfolio, shall invest any portion of the Pinnacol Assurance fund, including its surplus or reserves, which is not needed for immediate use. Such moneys may be invested in the types of investments authorized in sections
24-36-109
,
24-36-112
, and
24-36-113
, C.R.S. Such moneys may also be invested in common and preferred stock in the same manner as a domestic insurance company pursuant to section
10-3-226
, C.R.S. The state treasurer shall determine the appropriate percentage of the fund, not to exceed one hundred percent of the surplus, to be invested in common and preferred stock and the appropriate level of risk for such investments. The state treasurer may make such investments in the form of mutual funds and may contract with private professional fund managers and employ portfolio managers.
(2)
Subject to approval by the board, the chief executive officer may authorize and direct the state treasurer to invest a portion of the funds in the Pinnacol Assurance fund for the purchase of real property, to house, contain, and maintain the offices and operational facilities of Pinnacol Assurance as may be deemed necessary to accommodate its immediate and reasonably anticipated future needs. The chief executive officer is authorized to purchase such real property, buildings, and improvements thereon. Title to such real property, buildings, and improvements thereon shall vest in Pinnacol Assurance, and such assets shall be a part of the Pinnacol Assurance fund. The chief executive officer may lease or rent space not needed for the immediate requirements of Pinnacol Assurance in such real property to other public agencies or private businesses. Moneys received from such rental or lease of space and moneys appropriated by the general assembly for rental or lease of space in such real property shall be deposited with the state treasurer for credit to the Pinnacol Assurance fund. The chief executive officer shall not sell or otherwise dispose of any property, buildings, or improvements thereon so acquired, without consent of the board, and the moneys received from such sale or disposition shall be credited to the account of the Pinnacol Assurance fund.
(3)
Repealed.
L. 90: Entire article R&RE, p. 540, § 1, effective July 1. L. 92: (3) amended, p. 1112, § 1, effective July 1. L. 97: (1) amended, p. 938, § 6, effective May 21; (3) repealed, p. 376, § 7, effective August 6. L. 2002: (1) and (2) amended, p. 1878, § 19, effective July 1.
This section is similar to former § 8-54-122 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-121 - Visitation of fund by commissioner of insurance - annual audit - examination

(1)
Pinnacol Assurance shall be open to visitation by the commissioner of insurance at all reasonable times, and the commissioner of insurance shall require from the chief executive officer reports as to the condition of Pinnacol Assurance, as required by law to be made by other insurance carriers doing business in this state insofar as applicable to Pinnacol Assurance.
(2)
The state auditor shall conduct an annual financial audit of Pinnacol Assurance. In conducting such audits, the state auditor may employ a firm of auditors and actuaries, or both, with the necessary specialized knowledge and experience. The cost of the annual audit shall be paid from the operating funds of Pinnacol Assurance. The state auditor shall report his or her findings from such audits, along with any comments and recommendations, to the governor, the general assembly, the executive director of the department of labor and employment, and the commissioner of insurance. The state auditor has continuing authority to conduct performance audits of Pinnacol Assurance as the state auditor deems appropriate. The cost of performance audits shall be paid from the operating funds of Pinnacol Assurance.
(3)
(Deleted by amendment, L. 2002, p. 1879, § 20, effective July 1, 2002.)
(4)
At least once every three years, the commissioner of insurance shall conduct an examination of the fund, to be conducted in the same manner as an examination of a private insurance carrier. With respect to the examination, section
10-1-204
applies. The commissioner of insurance shall transmit a copy of the commissioner's examination to the state auditor.
Amended by 2017 Ch. 4, § 1, eff. 8/9/2017.
L. 90: Entire article R&RE, p. 541, § 1, effective July 1. L. 97: (2) amended, p. 1475, § 13, effective June 3. L. 2002: Entire section amended, p. 1879, § 20, effective July 1. L. 2009: (2) amended, (SB 09 -281), ch. 335, p. 1775, § 2, effective June 1. L. 2017: (2) amended, (SB 17-294), ch. 264, p. 1384, § 7, effective May 25; (4) amended, (SB 17-044), ch. 4, p. 6, § 1, effective August 9.
This section is similar to former § 8-54-124 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-122 - Annual report

(1)
The chief executive officer of Pinnacol Assurance shall submit an annual report to the governor; the business affairs and labor committee of the house of representatives; the business, labor, and technology committee of the senate; and the health and human services committees of the house of representatives and the senate, or their successor committees, reporting on the business operations, resources, and liabilities of the Pinnacol Assurance fund.
(2)
The report required in subsection (1) of this section shall include the following information for the previous calendar year:
(a)
The number of policies held by Pinnacol Assurance;
(b)
The total assets of Pinnacol Assurance;
(c)
The amount of reserves;
(d)
The amount of surplus;
(e)
The number of claims filed;
(f)
The number of claims admitted or contested within the twenty-day period pursuant to section
8-43-203
, specifying the number of contested claims that are medical only and those that are indemnity claims;
(g)
The number of medical procedures denied;
(h)
The amount of total compensation each executive officer or staff member receives, including bonuses or deferred compensation;
(i)
The amount spent on commissions;
(j)
The amount paid to trade associations for marketing fees;
(k)
All information relating to bonus programs; and
(l)
Any other information the chief executive officer deems relevant to the report.
L. 90: Entire article R&RE, p. 542, § 1, effective July 1. L. 97: Entire section repealed, p. 1475, § 14, effective June 3. L. 2010: Entire section RC&RE, (SB 10-013), ch. 303, p. 1434, §2, effective July 1.
This section is similar to former § 8-54-104.5 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-123 - [Repealed Effective 8/7/2024] Change of names - direction to revisor

The revisor of statutes is authorized to change all references to the Colorado compensation insurance authority in the "Workers' Compensation Act of Colorado" and everywhere else a reference is contained in the Colorado Revised Statutes to Pinnacol Assurance and to change all references to the Colorado compensation insurance authority fund in the "Workers' Compensation Act of Colorado" and everywhere else a reference is contained in the Colorado Revised Statutes to the Pinnacol Assurance fund.
Repealed by 2024 Ch. 490,§ 12, eff. 8/7/2024.
L. 90: Entire article R&RE, p. 542, § 1, effective July 1. L. 2002: Entire section amended, p. 1879, § 21, effective July 1.
2024 Ch. 490, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-124 - [Repealed]

L. 91: Entire section added, p. 1363, § 3, effective July 1.
Subsection (2) provided for the repeal of this section, effective July 1, 1992. (See L. 91, p. 1363.)
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 45 - PINNACOL ASSURANCE (§§ 8-45-101 — 8-45-125) › Section 8-45-125 - [Repealed]

L. 2009: Entire section added, (SB 09-281), ch. 335, p. 1776, §3, effective June 1.
Subsection (8) provided for the repeal of this section, effective July 1, 2011. (See L. 2009, p. 1776.)
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-103 - State treasurer to invest funds

(1)
The state treasurer shall invest any portion of the subsequent injury fund, including its surplus and reserves, which the division determines is not needed for immediate use. All interest earned upon such invested portion shall be credited to the fund and used for the same purposes and in the same manner as other moneys in the fund. Such moneys may be invested in the types of investments authorized in sections
24-36-109
,
24-36-112
, and
24-36-113
, C.R.S.
(2)
Repealed.
L. 90: Entire article R&RE, p. 545, § 1, effective July 1. L. 97: (2) repealed, p. 377, § 8, effective August 6.
This section is similar to former § 8-51-111 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-104 - Closure of fund

No cases shall be accepted into the subsequent injury fund for injuries occurring on or after July 1, 1993, or for occupational diseases occurring on or after April 1, 1994. When all payments have been made for all cases accepted into the fund, any remaining balance shall revert to the general fund.
L. 92: Entire section added, p. 1830, § 5, effective May 19. L. 93: Entire section amended, p. 2142, § 3, effective July 1.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-105 - Calculation of premium - permanent total disability - employer may request examination

(1)
Effective July 1, 1993, in any case in which an employee previously has sustained permanent partial disability and, in a subsequent injury, sustains additional permanent partial disability and it is shown that the combined industrial disabilities render the employee permanently and totally disabled, then the premiums of the employer in whose employ the employee sustained such subsequent injury shall be determined only on the basis of the impairment rating for such subsequent injury and not on the basis of the employee's permanent total disability. If such employer disputes the impairment rating for the subsequent injury, the employer shall request an independent medical examination pursuant to the procedures set forth in section
8-42-107.2
. The finding of the independent medical examiner regarding the impairment rating may be overcome only by clear and convincing evidence. The total cost of the employee's permanent total disability shall not be considered in determining the employer's premiums, but shall be considered by the commissioner of insurance in setting rates.
(2)
In any case in which an employee becomes disabled by an occupational disease and the employer is liable for benefits pursuant to section
8-41-304(2)
, then the premiums of the employer in whose employ the employee became disabled shall be determined only on the basis of the impairment rating for the portion of the occupational disease attributable to such employer and not on the basis of the combination of such portion and any prior impairment resulting from such occupational disease. For the purposes of premium calculations, if such employer disputes the impairment rating for the occupational disease, the employer shall request an independent medical examination pursuant to the procedures set forth in section
8-42-107.2
. The finding of the independent medical examiner regarding the impairment rating may be overcome only by clear and convincing evidence. The total cost of the employee's occupational disease shall not be considered in determining the employer's premiums, but shall be considered by the commissioner of insurance in setting rates.
L. 92: Entire section added, p. 1831, § 5, effective May 19. L. 93: Entire section amended, p. 2142, § 4, effective July 1. L. 98: Entire section amended, p. 1431, § 4, effective August 5.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-106 - Abatement of taxes - independent review of fund

The funding provisions of section
8-46-102
, including the provisions relating to the assessment and levying of taxes, shall cease to be effective when an independent actuary, retained by the division for such purpose, determines that the fund has sufficient resources to pay benefits for injuries occurring prior to July 1, 1993, and occupational diseases occurring prior to April 1, 1994.
L. 92: Entire section added, p. 1831, § 5, effective May 19. L. 2000: Entire section amended, p. 75, § 1, effective August 2.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-107 - [Repealed]

L. 92: Entire section added, p. 1831, § 5, effective May 19. L. 97: Entire section repealed, p. 1476, § 16, effective June 3.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-108 - [Repealed]

L. 92: Entire section added, p. 1831, § 5, effective May 19. L. 2006: Entire section repealed, p. 140, § 2, effective August 7.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 1 - SUBSEQUENT INJURY FUND (§§ 8-46-101 — 8-46-109) › Section 8-46-109 - Legislative declaration - claims management

(1)
The general assembly finds and declares that the purpose of this section is to provide for prompt, efficient, and fair settlement of all pending claims and the closure of both the subsequent injury fund and the major medical insurance fund as soon as is practicable.
(2)
As necessary to augment the division's regular staff, the director shall contract for the services of qualified specialists in the area of settlements, who shall, on the director's behalf, negotiate for and enter into settlements of claims of the subsequent injury fund and the major medical insurance fund for present value whenever possible.
(3)
Repealed.
L. 93: Entire section added, p. 2143, § 5, effective July 1. L. 97: (3) amended, p. 1476, § 17, effective June 3. L. 2006: (3) repealed, p. 141, § 3, effective August 7.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 2 - COLORADO MAJOR MEDICAL INSURANCE FUND ACT (§§ 8-46-201 — 8-46-212) › Section 8-46-201 - Short title

This part 2 shall be known and may be cited as the "Colorado Major Medical Insurance Fund Act".
L. 90: Entire article R&RE, p. 545, § 1, effective July 1.
This section is similar to former § 8-66-101 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 2 - COLORADO MAJOR MEDICAL INSURANCE FUND ACT (§§ 8-46-201 — 8-46-212) › Section 8-46-203 - [Repealed]

L. 90: Entire article R&RE, p. 547, § 1, effective July 1. L. 93: Entire section repealed, p. 2144, § 7, effective July 1.
Prior to its repeal in 1993, this section was similar to former § 8-66-103 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 2 - COLORADO MAJOR MEDICAL INSURANCE FUND ACT (§§ 8-46-201 — 8-46-212) › Section 8-46-204 - [Repealed]

L. 90: Entire article R&RE, p. 547, § 1, effective July 1. L. 93: Entire section repealed, p. 2144, § 8, effective July 1.
Prior to its repeal in 1993, this section was similar to former § 8-66-107 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 2 - COLORADO MAJOR MEDICAL INSURANCE FUND ACT (§§ 8-46-201 — 8-46-212) › Section 8-46-205 - Collection of taxes due

If any such insurance carrier or self-insurer withdraws from business in this state before the tax falls due as provided in this part 2, or fails or neglects to pay such tax, the director shall at once proceed to collect the same; and the director is authorized to employ such legal processes as may be necessary for that purpose. Suit shall be brought by the director in any of the courts of this state having jurisdiction.
L. 90: Entire article R&RE, p. 547, § 1, effective July 1.
This section is similar to former § 8-66-104 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 2 - COLORADO MAJOR MEDICAL INSURANCE FUND ACT (§§ 8-46-201 — 8-46-212) › Section 8-46-206 - Enforcement powers - violations

The director, in the enforcement of this article, shall have all of the powers granted in the "Workers' Compensation Act of Colorado", and any insurance carrier or self-insurer violating any of the provisions of this article, or failing to pay the tax imposed in this article, is guilty of violation of said act and subject to the penalties therein prescribed.
L. 90: Entire article R&RE, p. 548, § 1, effective July 1.
This section is similar to former § 8-66-105 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 8 - LABOR AND INDUSTRY (§§ 8-1-101 — 8-88-207) › LABOR II - WORKERS COMPENSATION AND RELATED PROVISIONS (§§ 8-40-101 — 8-67-113) › WORKERS COMPENSATION (§§ 8-40-101 — 8-47-209) › Article 46 - SPECIFIC INSURANCE FUNDS (§§ 8-46-101 — 8-46-309) › Part 2 - COLORADO MAJOR MEDICAL INSURANCE FUND ACT (§§ 8-46-201 — 8-46-212) › Section 8-46-207 - [Repealed]

L. 90: Entire article R&RE, p. 548, § 1, effective July 1. L. 93: Entire section repealed, p. 2145, § 9, effective July 1.
Prior to its repeal in 1993, this section was similar to former § 8-66-106 as it existed prior to 1990.