The bill updates Colorado state laws concerning insurance
company holding systems to align with the National Association of Insurance Commissioners' model act. The changes include updating:
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The registration requirements for the ultimate controlling person of each insurer by adding new filing requirements to be included with the division of insurance's (division) existing registration requirements;
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The standards for insurance holding company transactions subject to registration with the division;
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Language concerning the confidential treatment of documents to include proprietary and trade secret documents and materials; and
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The regulatory tools that the division may use for the regulation of insurance holding companies.
The bill also makes technical amendments.
