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Legislative Year: 2024 Change
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Bill Detail: HB24-1108

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Title Insurance Commissioner Study Insurance Market
Status House Committee on Business Affairs & Labor Refer Amended to Appropriations (02/21/2024)
Bill Subjects
  • Health Care & Health Insurance
  • Insurance
House Sponsors J. McCluskie (D)
J. Amabile (D)
Senate Sponsors D. Roberts (D)
House Committee Business Affairs and Labor
Senate Committee
Date Introduced 01/26/2024
Summary

The bill requires the commissioner of insurance (commissioner)
to conduct a study concerning the market for property and casualty
insurance policies issued by insurers to:
  • Unit owners' associations (associations) of common interest
communities; and
  • Owners of hotels and lodging facilities (owners).
To the extent practicable, the study must include consideration of:
  • Current market conditions, including certain data; and
  • The implementation of measures and programs to ensure
the long-term sustainability and availability of property and
casualty insurance policies issued to associations and
owners.
The commissioner may contract with a third party to conduct the
study. The commissioner and any third party shall engage with and seek
input from insurers, consumer groups, and other interested parties.
As part of the study, the commissioner shall collect specific data
from insurers. Information submitted by an insurer is subject to public
inspection only to the extent allowed under the Colorado Open Records
Act. The division of insurance and any third-party contractor may not
disclose trade secrets or confidential or proprietary information.
The commissioner shall prepare a report summarizing the results
of the study and, on or before January 1, 2026, submit the report to the
joint budget committee, to the business affairs and labor committee of the
house of representatives, and to the business, labor, and technology
committee of the senate.

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (02/09/2024) (most recent)  
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