Colorado § 10-3-1509 Sanctions

Colorado Statutes

§ 10-3-1509 — Sanctions

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

Any insurer failing, without just cause, to timely file
the ORSA summary report as required in this part 15 shall, after notice and hearing,
pay a penalty of two hundred dollars for each day's delay. The maximum penalty
under this section is twenty-five thousand dollars. The commissioner may reduce
the penalty if the insurer demonstrates to the commissioner that the imposition of
the penalty would constitute a financial hardship to the insurer.

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Any insurer failing, without just cause, to timely file
the ORSA summary report as required in this part 15 shall, after notice and hearing,
pay a penalty of two hundred dollars for each day's delay. The maximum penalty
under this section is twenty-five thousand dollars. The commissioner may reduce
the penalty if the insurer demonstrates to the commissioner that the imposition of
the penalty would constitute a financial hardship to the insurer.

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