§ 10-4-413 — Records required to be maintained

(1) Every insurer, rating
organization, or advisory organization and every group, association, or other
organization of insurers which engages in joint underwriting or joint reinsurance
shall maintain reasonable records, of the type and kind reasonably adapted to its
method of operation, of its experience or the experience of its members and of the
data, statistics, or information collected or used by it in connection with the rates,
rating plans, rating systems, underwriting rules, policy or bond forms, surveys, or
inspections made or used by it, so that such records will be available at all
reasonable times to enable the commissioner to determine whether such
organization, insurer, group, or association and, in the case of an insurer or rating
organization, every rate, rating plan, and rating system made or used by it complies
with the provisions of this part 4 applicable to it. The maintenance of such records
in the office of a licensed rating organization of which an insurer is a member or
subscriber will be sufficient compliance with this section for any insurer
maintaining membership or subscribership in such organization to the extent that
the insurer uses the rates, rating plans, rating systems, or underwriting rules of
such organization. Such records shall be maintained in an office within this state or
shall be made available for examination or inspection by the commissioner at any
time, upon reasonable notice.

(2) All records of any such organization or individual insurer dealing with
workers' compensation and employer's liability insurance incidental thereto and
written in connection therewith shall be subject to the requirements of article 44 of
title 8, C.R.S., concerning the filing of its system of rates.

Legislative History

Source: L. 79: Entire part R&RE, p. 371, � 8, effective July 1. L. 90: (2) amended, p. 558, � 16, effective July 1.