Colorado Statutes
§ 10-4-416 — Prohibiting changes in rates or coverages
In any case involving
insurance subject to this part 4 on which an insured has prepaid a premium for the
issuance of a policy of insurance for a specified policy period, the insurer shall not
increase unilaterally, during said policy period, the rate charged nor decrease the
coverage benefits provided unless there is a change in risk during the policy term
attributable to any act or acts of the insured or the risk to be insured was
misrepresented by the insured. This section shall not prohibit cancellation of a
policy for any reason otherwise permitted by the policy or by law during an initial
policy period of not to exceed sixty days.
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Legislative History
Source: L. 79: Entire part R&RE, p. 373, � 8, effective July 1.
Nearby Sections
15
§ 10-1-101
Legislative declaration§ 10-1-102
Definitions§ 10-1-105
Actuary§ 10-1-107
Personal fees prohibited§ 10-1-109
Rules of commissioner§ 10-1-111
Invoking aid of courts§ 10-1-113
No seal required on policies§ 10-1-114
Sale of premium notes prohibited§ 10-1-115
Penalty§ 10-1-116
Defamation of other companies - penalty§ 10-1-117
Company unauthorized in other states