The Colorado Division of Insurance (DOI) has provided notice of adopting the following regulations:
Amended Regulation 2-4-1 Concerning Surplus Lines Insurance Issued By Nonadmitted Insurers establishes standards regarding the placement of insurance by producers and the insurers’ qualifications and sets forth necessary disclosure requirements for surplus lines insurance contracts. The regulation becomes effective Jan. 1, 2025.
Amended Regulation 3-4-1 Holding Company System Regulation with Reporting Forms and Instructions sets forth rules and procedural requirements which the Commissioner deems necessary to carry out the provisions of the Insurance Holding Company Systems Act. The information called for in this regulation is deemed necessary and appropriate in the public interest and for the protection of the policyholders in Colorado. The regulation becomes effective Jan. 1, 2025.
Amended Regulation 4-2-56 Concerning Continuity of Care Requirements for ACA-Compliant Health Benefit Plans provides carriers offering ACA-compliant health benefit plans with the continuity of care requirements for health benefit plans pursuant to SB24-93. The DOI amended this regulation to incorporate changes from SB 93. Continuity of care protections apply when a provider leaves or is terminated from a plan’s network; a Medicaid enrollee transfers to a commercial plan; or an enrollee’s coverage is not renewed because the carrier is no longer offering any health benefit plans for which the individual is eligible. The regulation becomes effective Jan. 1, 2025.
