Colorado Regulation of Insurance Companies

What this document is

Colorado Regulation of Insurance Companies - C.R.S. Title 10, Article 3, Parts 9 to 14 (10-3-901 through 10-3-1412): unauthorized insurance, the unauthorized insurers process act, unfair competition and deceptive practices, securities, the model quality replacement parts act and the model risk retention act 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. § 10-3-1107 (Hearings)

  “10-3-1107. Hearings. Whenever the commissioner has reason to believe that any person has been engaged or is engaging in this state in any unfair method of competition or any unfair or deceptive act or practice, whether defined or reasonably implied in this part 11, or has violated any other...”

• C.R.S. § 10-3-1105(1)(b) (Favored agent or insurer, coercion of debtors: disapproval of a borrower's policy)

  “(b) Unreasonably disapprove the insurance policy provided by a borrower or lessee for the protection of the property securing the credit, or lien, or which is the subject of the lease. For the purposes of this paragraph (b), disapproval shall be deemed unreasonable if it is not based solely on...”

• C.R.S. § 10-3-1104(1)(f)(XIV) (Unfair discrimination: geographic location of a property and casualty risk)

  “(XIV) Making or permitting any unfair discrimination between individuals or risks of the same class and of essentially the same hazard by refusing to insure, refusing to renew, canceling, or limiting the amount of insurance coverage on a property and casualty risk solely because of the geographic...”

• C.R.S. § 10-3-1104(1)(h) (Unfair claim settlement practices)

  “(h) Unfair claim settlement practices: Committing or performing, either in willful violation of this part 11 or with such frequency as to indicate a tendency to engage in a general business practice, any of the following: (I) Misrepresenting pertinent facts or insurance policy provisions relating...”

• C.R.S. § 10-3-906 (Validity of insurance contracts, liability under insurance contract)

  “10-3-906. Validity of insurance contracts - liability under insurance contract. (1) The failure of a company transacting insurance business in Colorado to obtain a certificate of authority shall not impair the validity of any act or contract of such company and shall not prevent such company from...”

• C.R.S. § 10-3-1115(1)(b) (Improper denial of claims: definition of first-party claimant)

  “(b) For the purposes of this section and section 10-3-1116: (I) "First-party claimant" means an individual, corporation, association, partnership, or other legal entity asserting an entitlement to benefits owed directly to or on behalf of an insured under an insurance policy. "First-party claimant"...”

• C.R.S. § 10-3-1104.9(2) (External consumer data and information sources: rules and stakeholder process)

  “(2) (a) The commissioner shall adopt rules for the implementation of this section. (b) The commissioner shall engage in a stakeholder process prior to the adoption of rules for any type of insurance that includes carriers, producers, consumer representatives, and other interested parties. The...”

• C.R.S. § 10-3-1118(1) (Failure-to-cooperate defense: conditions)

  “10-3-1118. Failure-to-cooperate defense. (1) To plead or prove a failure-to-cooperate defense in an action concerning an insurance policy providing first-party benefits or coverage, each of the following conditions must be met before the defense is asserted in a court of law or an arbitration: (a)...”

• C.R.S. § 10-3-1104(1)(a)(IX) (Misrepresentations and false advertising: factual policy comparisons excepted)

  “Misrepresentation shall not be construed where a written comparison of policies is made factually disclosing relevant features and benefits for which the policy is issued and by which an informed decision can be made;”

• C.R.S. § 10-3-1104(1)(h)(XV) (Unfair claim settlement practices: comparative negligence defense)

  “Raising as a defense or partial offset in the adjustment of a third-party claim the defense of comparative negligence as set forth in section 13-21-111, C.R.S., without conducting a reasonable investigation and developing substantial evidence in support thereof. At such time as the issue is raised...”

• C.R.S. § 10-3-1106 (Power of commissioner)

  “The commissioner shall have power to examine and investigate into the affairs of every person engaged in the business of insurance in this state in order to determine whether such person has been or is engaged in any unfair method of competition or in any unfair or deceptive act or practice prohibited by this part 11.”

• C.R.S. § 10-3-1104(1)(c) (Defamation)

  “Defamation: Making, publishing, disseminating, or circulating, directly or indirectly, or aiding, abetting, or encouraging the making, publishing, disseminating, or circulating of any oral or written statement or any pamphlet, circular, article, or literature which is false, or maliciously...”

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More Colorado sources

• 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