Colorado Property and Casualty Insurance

What this document is

Colorado Property and Casualty Insurance - C.R.S. Title 10, Article 4, Parts 7 to 19 (10-4-701 through 10-4-1909): the repealed no-fault part, medical malpractice, arson reporting, joint underwriting associations, producer-controlled insurers, exempt commercial policyholders, portable electronics, service contracts, self-storage, the Colorado FAIR plan and travel insurance 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. § 10-4-1003(1)(a) (Fraudulent Claims and Arson Information Reporting Act: disclosure of information)

  “When any person or insurer has reason to believe that a fire loss may have been caused by other than accidental means or that any insurance claim may be fraudulent, then such person may, and such insurer shall, notify an authorized agency or a secondary agency.”

• C.R.S. § 10-4-1804(2) (Fair access to insurance requirements plan association - creation - participation required: purpose of the FAIR plan)

  “The FAIR plan association is established to provide property insurance coverage, including commercial property insurance, when such coverage is not available from admitted companies.”

• C.R.S. § 10-4-1808 (FAIR plans - requirements for licensed producers)

  “The FAIR plan association shall not sell a policy subject to this part 18 directly to any person or entity. A FAIR plan policy may be issued only though a licensed producer who shall, on behalf of a person or entity, include evidence of at least three declinations of coverage for the property as...”

• C.R.S. § 10-4-1807(2)(b) (Plan of operation - mandatory components: coverage limits)

  “Coverage limits not to exceed seven hundred fifty thousand dollars for property and five million dollars for commercial property owners;”

• C.R.S. § 10-4-1005(1) (Immunity: exception for information furnished with knowledge of falsity or reckless disregard)

  “In the case of actions taken under this part 10, and except where information is furnished with knowledge that the information is false or with reckless disregard for its truth or falsity, there may be no civil penalty or damages on the part of, and no claim for relief may be brought against, any...”

• C.R.S. § 10-4-1006(1) (Enforcement: prohibited acts under the Fraudulent Claims and Arson Information Reporting Act)

  “No person, authorized agency, or insurer shall: (a) Intentionally or knowingly refuse to release any information requested pursuant to section 10-4-1003 (2); (b) Intentionally or knowingly fail to provide authorized agencies with relevant information pursuant to section 10-4-1003 (1); or (c) Fail...”

• C.R.S. § 10-4-1003(1)(a) and (1)(b) (Fraudulent Claims and Arson Information Reporting Act: the insurer's duty to notify and the confidentiality of the notification)

  “(1) (a) When any person or insurer has reason to believe that a fire loss may have been caused by other than accidental means or that any insurance claim may be fraudulent, then such person may, and such insurer shall, notify an authorized agency or a secondary agency. (b) A notification pursuant...”

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Questions about this source

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• C.R.S. s. 10-3-1104: Unfair methods of competition and deceptive practicesState statute
• Colorado Individual Sickness and Accident Insurance Policy Provisions - C.R.S. Title 10, Article 16, Part 2 (10-16-201 to 213 and 216 to 222)State statute
• Colorado Insurance Code General Provisions Applicable to All Insurers - C.R.S. Title 10, Article 1, Parts 1-3State statute
• Colorado Group and Blanket Health Insurance - C.R.S. 10-16-214, 10-16-215 and Article 16 Part 1 group provisions (10-16-105, 105.1, 105.2, 106, 108)State statute
• Colorado Group Life Insurance - C.R.S. Title 10, Article 7, Part 2 (10-7-201 to 10-7-207)State statute
• Colorado Life and Health Insurance Protection Association Act - C.R.S. Title 10, Article 20 (10-20-101 to 10-20-120)State statute
• Colorado Life Insurance and Annuity Contracts, Standard Nonforfeiture and Valuation - C.R.S. Title 10, Article 7, Parts 1, 3, 4, 5, 7 and 8State statute
• Colorado Medicare Supplement Insurance and Long-term Care Insurance Minimum Standards - C.R.S. Title 10, Article 18 and Article 19State statute