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Model Law Credit Extraterritorial Reinsurance

Concerning additional means by which credit for reinsurance may be allowed to a domestic ceding insurer.
2021 Regular Session
Bill Summary

Federal law preempts the extraterritorial application of state credit for reinsurance law but permits a state to enact reinsurance collateral reforms on an individual basis if the state is accredited. The act enacts a model law adopted by the National Association of Insurance Commissioners (NAIC), which is necessary to maintain the continued accreditation of the Colorado division of insurance with the NAIC and makes Colorado's reinsurance statutes substantially similar to those found in other states. The model law specifies the grounds upon which a domestic insurer can get credit in Colorado for reinsurance provided by an assuming insurer that is domiciled in an extraterritorial jurisdiction and thereby avoids federal preemption that would otherwise occur by 2022.

(Note: This summary applies to this bill as enacted.)


Became Law


Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    04/19/2021 Signed Act PDF
    04/09/2021 Final Act PDF
    04/05/2021 Rerevised PDF
    04/01/2021 Revised PDF
    03/02/2021 Reengrossed PDF
    03/01/2021 Engrossed PDF
    02/16/2021 Introduced PDF


Sponsor Type Legislators
Prime Sponsor

Rep. S. Lontine
Sen. R. Rodriguez



Rep. M. Duran, Rep. A. Garnett, Rep. C. Kennedy, Rep. J. McCluskie, Rep. S. Woodrow

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