Colorado Property and Casualty Insurance

What this document is

Colorado Property and Casualty Insurance - C.R.S. Title 10, Article 4, Parts 1 to 6 (10-4-101 through 10-4-643): general, fire and inland marine rating, surety bonds, rate regulation, the Colorado Insurance Guaranty Association Act, and automobile insurance policy regulation is a state statute published by Colorado General Assembly, Office of Legislative Legal Services (leg.colorado.gov). It is one of the Colorado documents that insurance license exam questions are written from, including colorado property & casualty, colorado personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• C.R.S. § 10-4-623(3)(b) (Conditions and exclusions: written rejection of uninsured motorist coverage)

  “(b) The insurer shall be deemed to have complied with the requirements of section 10-4- 609 (1) and the exclusion of the insured from uninsured motorist coverage shall be deemed valid if the named insured has rejected the uninsured motorist coverage in writing. Such exclusion shall be continuing...”

• C.R.S. § 10-4-416 (Prohibiting changes in rates or coverages)

  “10-4-416. Prohibiting changes in rates or coverages. In any case involving insurance subject to this part 4 on which an insured has prepaid a premium for the issuance of a policy of insurance for a specified policy period, the insurer shall not increase unilaterally, during said policy period, the...”

• C.R.S. § 10-4-111(1) to (3) (Summary disclosure forms required)

  “Each summary disclosure form shall provide notice in bold face letters that the policyholder should read the policy for complete details, and such disclosure form shall not be construed to replace any provision of the policy itself. In the event of any conflict between the policy and the disclosure...”

• C.R.S. § 10-4-110.8(3)(h) (Homeowner's insurance: definition of recoverable depreciation)

  “(h) "Recoverable depreciation" means the difference between the cost to replace insured property and the actual cash value of the property.”

• C.R.S. § 10-4-110.7(3) (Cancellation or nonrenewal, homeowner's insurance policies)

  “(3) An insurer shall not cancel or refuse to renew a policy of homeowner's insurance unless such insurer mails, by first-class mail to the named insured, at the last address shown in the insurer's records, at least sixty days in advance, a notice of its intended action that specifically states the...”

• C.R.S. § 10-4-419(5) (Claims-made policy forms: definition)

  “(5) As used in this section, unless the context otherwise requires, "claims-made policy" means a policy of liability insurance that provides coverage for those claims that are made or reported to the insurance carrier, as is required in the policy, during the term of the policy or for such extended...”

• C.R.S. § 10-4-419(2)(f) (Claims-made policy forms: exclusionary endorsement)

  “(f) The insured approves and acknowledges, by signature on the written endorsement, any exclusionary endorsement which excludes coverage in a renewal period for claims from certain known occurrences, events, products, or locations;”

• C.R.S. § 10-4-107(1) (Cancellation of medical malpractice policies)

  “A notice of cancellation of a medical malpractice policy shall be valid only if it is based on one or more of the following reasons: (a) Nonpayment of premiums; or (b) The license of the insured health-care provider has been suspended or revoked by the appropriate state regulatory authority; or (c)...”

• C.R.S. § 10-4-609(1)(a)(I) (Insurance protection against uninsured motorists)

  “Except as described in subsection (1)(a)(II) of this section, an automobile liability or motor vehicle liability policy insuring against loss resulting from liability imposed by law for bodily injury or death suffered by any person arising out of the ownership, maintenance, or use of a motor...”

• C.R.S. § 10-4-609(4) (Insurance protection against uninsured motorists: underinsured motor vehicle)

  “Uninsured motorist coverage shall include coverage for damage for bodily injury or death that an insured is legally entitled to collect from the owner or driver of an underinsured motor vehicle. An underinsured motor vehicle is a land motor vehicle, the ownership, maintenance, or use of which is...”

• C.R.S. § 10-4-610(1) (Property damage protection against uninsured motorists)

  “Every policy providing insurance for bodily injury caused by uninsured motorists that is delivered or issued for delivery in this state, which policy does not also provide insurance for collision damage, shall provide, at the request of the insured, coverage for the protection of persons insured...”

• C.R.S. § 10-4-624(1) (Self-insurers)

  “Any person in whose name more than twenty-five motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the commissioner.”

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