Colorado § 10-3-1110 Rules

Colorado Statutes

§ 10-3-1110 — Rules

Colorado·Title 10 Insurance·Art. Regulation of Insurance Companies

(1)The commissioner may, after notice and hearing, as provided in article 4 of title 24, C.R.S., promulgate reasonable rules and regulations as are necessary or proper to identify specific methods of competition or acts or practices which are prohibited by sections 10-3-1104 and 10-3-1105.

(2)The commissioner may, after notice and hearing, as provided in article 4 of title 24, C.R.S., promulgate rules with respect to the payment of benefits under group and individual contracts of property or casualty coverage, issued by organizations authorized to do business in this state under the provisions of article 4 of this title; except that, to the extent that a provision of this subsection (2) conflicts with section 10-4-642, as enacted by Senate Bill 04-125, enacted at the second reg

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(1) The commissioner may, after notice and hearing, as
provided in article 4 of title 24, C.R.S., promulgate reasonable rules and regulations
as are necessary or proper to identify specific methods of competition or acts or
practices which are prohibited by sections 10-3-1104 and 10-3-1105.

(2) The commissioner may, after notice and hearing, as provided in article 4
of title 24, C.R.S., promulgate rules with respect to the payment of benefits under
group and individual contracts of property or casualty coverage, issued by
organizations authorized to do business in this state under the provisions of article
4 of this title; except that, to the extent that a provision of this subsection (2)
conflicts with section 10-4-642, as enacted by Senate Bill 04-125, enacted at the
second regular session of the sixty-fourth general assembly, the provisions of said
section 10-4-642 shall govern. Such rules may establish a penalty payable to the
claimant on benefit payments that are delayed more than sixty days after a valid
and complete filing of the claim unless there is a reasonable dispute between the
parties concerning such claim. Such penalty shall not exceed twenty dollars on
claims of less than one hundred dollars or interest at a rate of eight percent
annually on claims above one hundred dollars. In addition to such penalties payable
to the claimant, the commissioner, after notice and hearing, may assess a civil
penalty against any insurer of one hundred dollars per day for each day benefit
payments are delayed more than sixty days after a valid and complete filing of the
claim unless there is a reasonable dispute between the parties concerning such
claim.

(3) (Deleted by amendment, L. 99, p. 1142, � 2, effective January 1, 2000.)

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Legislative History

Source: L. 73: R&RE, p. 862, � 1. C.R.S. 1963: � 72-14-10. L. 84: Entire section amended, p. 331, � 2, effective July 1. L. 90: (2) amended, p. 614, � 3, effective April 5. L. 91: (2) amended, p. 1909, � 10, effective June 1. L. 92: (2) amended, p. 1556, � 54, effective May 20; (2) amended, p. 1724, � 6, effective July 1. L. 99: (2) and (3) amended, p. 1142, � 2, effective January 1, 2000. L. 2003: (2) amended, p. 1571, � 5, effective July 1. L. 2004: (2) amended, p. 894, � 2, effective May 21; (2) amended, p. 1102, � 3, effective July 1.