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HB22-1111

Insurance Coverage For Loss Declared Fire Disaster

Concerning insurance coverage for insured losses incurred as a result of a declared fire disaster, and, in connection therewith, making an appropriation.
Session:
2022 Regular Session
Subject:
Insurance
Bill Summary

The act establishes new coverage requirements for homeowners insurance policies issued or renewed in Colorado, which requirements apply in the event of a total loss of an owner-occupied residence as a result of a wildfire disaster that is declared by the governor.

The act also establishes new requirements for insurers who issue or renew homeowners insurance policies, which requirements concern an insurer's handling of policy claims after such a total loss occurs.

For the 2022-23 state fiscal year, the act appropriates $66,781 from the division of insurance cash fund to the department of regulatory agencies for use by the division of insurance as follows:

  • $59,231 for personal services; and
  • $7,550 for operating expenses.
    (Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

Email addresses for the Colorado legislature are changing from the @state.co.us domain to the @coleg.gov domain on December 1, 2022. Details