Colorado § 10-4-1401 Legislative declaration

Colorado Statutes

§ 10-4-1401 — Legislative declaration

Colorado·Title 10 Insurance·Art. Property and Casualty Insurance

The general assembly declares that the
health, welfare, and safety of the people of the state of Colorado may not be
enhanced by the regulation of insurance between sophisticated commercial entities
and insurers. The general assembly finds that there are commercial entities that
utilize personnel trained in risk management, insurance coverage issues, and
insurance industry knowledge who are capable of negotiating and entering into
insurance coverage agreements without the need for state regulation in this area.
Therefore, the purpose of this part 14 is to exempt insurers negotiating with and
insuring sophisticated commercial entities from rate filing and form certification
requirements. This exemption will allow competitive underwriting and rating of
policies.

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The general assembly declares that the
health, welfare, and safety of the people of the state of Colorado may not be
enhanced by the regulation of insurance between sophisticated commercial entities
and insurers. The general assembly finds that there are commercial entities that
utilize personnel trained in risk management, insurance coverage issues, and
insurance industry knowledge who are capable of negotiating and entering into
insurance coverage agreements without the need for state regulation in this area.
Therefore, the purpose of this part 14 is to exempt insurers negotiating with and
insuring sophisticated commercial entities from rate filing and form certification
requirements. This exemption will allow competitive underwriting and rating of
policies.

Colorado § 10-4-1401 (Legislative declaration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.