Colorado § 10-5-101.1 Legislative declaration

Colorado Statutes

§ 10-5-101.1 — Legislative declaration

Colorado § 10-5-101.1

Title 10Insurance

Art.Nonadmitted Insurance

This text of Colorado § 10-5-101.1 (Legislative declaration) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-5-101.1 (2026).

Text

(1)The general assembly finds and declares that disability, property, and casualty insurance transactions with nonadmitted insurers are so affected with a public interest as to require regulation, taxation, supervision, and control of such transactions and matters relating thereto, as provided in this article 5, in order to:

(a)Protect the insureds and claimants of this state in transactions involving the purchase of insurance from insurers not authorized to transact business in this state;

(b)Provide for the public, except for transactions related to the diligent effort requirements of this article for exempt commercial policyholders, as defined pursuant to section 10-4-1402 and rules adopted by the commissioner pursuant to that section, to the extent that insurance is not p

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The general assembly finds and
declares that disability, property, and casualty insurance transactions with
nonadmitted insurers are so affected with a public interest as to require regulation,
taxation, supervision, and control of such transactions and matters relating thereto,
as provided in this article 5, in order to:

(a) Protect the insureds and claimants of this state in transactions involving
the purchase of insurance from insurers not authorized to transact business in this
state;

(b) Provide for the public, except for transactions related to the diligent
effort requirements of this article for exempt commercial policyholders, as defined
pursuant to section 10-4-1402 and rules adopted by the commissioner pursuant to
that section, to the extent that insurance is not procurable from admitted insurers,
orderly, reasonable, and regulated access to such insurance from eligible
nonadmitted insurers through qualified, licensed, and supervised surplus line
agents and brokers;

(c) Protect the revenues of this state;

(d) Protect regulated, admitted insurers from unregulated and unfair
competition by nonadmitted insurers;

(e) Regulate and supervise the effectuation of surplus lines insurance in
accordance with the laws of this state and federal law, including the federal
McCarran-Ferguson Act; and

(f) Maintain reliable insurance markets.

Legislative History

Source: L. 81: Entire section added, p. 537, � 1, effective January 1, 1982. L. 95: IP(1), (1)(b), and (1)(e) amended, p. 491, � 7, effective May 16. L. 99: (1)(b) amended, p. 388, � 9, effective January 15, 2000. L. 2012: (1)(b) amended, (HB 12-1215), ch. 104, p. 355, � 9, effective August 8. L. 2017: IP(1) amended, (SB 17-274), ch. 334, p. 1788, � 1, effective August 9.