Colorado has implemented new procedure changes for surplus lines brokers. Beginning Jan. 1, 2007, surplus lines brokers in Colorado will need to report their monthly policy and endorsement transactions directly to the state’s Division of Insurance, rather than the Surplus Lines Association of Colorado.
A Web based electronic filing system is being developed to replace the association’s on-line reporting system. This new filing system will also produce the brokers’ annual statement that the association has previously distributed. By Dec. 1, 2006, brokers will have access to the system to request logons in preparation of filing their Jan. 2007 reports. Colorado Insurance Regulation 2-4-1 is being revised effective Jan. 1, 2007, to reflect these procedural changes.
Other new requirements and changes include:
• The list of approved surplus lines companies are displayed on the Division’s Web site;
• Existing and applying surplus lines companies must mail all filings to the Division of Insurance;
• Existing surplus lines companies must include a detailed report of all Colorado premiums with their renewal application filing.
Source: DOI
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
