Amendments for HB23-1288
House Journal, April 17
15 Amend printed bill, page 3, line 16, strike "COLORADO;" and substitute
16 "COLORADO AND PROVIDES OPPORTUNITY FOR THE PRIVATE INSURANCE
17 MARKET TO ADAPT TO CHANGING CONDITIONS;".
18
19 Page 3, after line 25 insert:
20
21 "(2) "COMMERCIAL PROPERTY INSURANCE" MEANS INSURANCE
22 AGAINST DIRECT LOSS TO COMMERCIAL PROPERTY, INCLUDING BUILDINGS
23 AND BUILDING CONTENTS, RESULTING FROM THE PERILS OF FIRE, PERILS
24 COVERED UNDER EXTENDED COVERAGE, VANDALISM, OR MALICIOUS
25 MISCHIEF. "COMMERCIAL PROPERTY INSURANCE" DOES NOT INCLUDE
26 COMMERCIAL AUTOMOBILE INSURANCE OR FARM RISKS.".
27
28 Renumber succeeding subsections accordingly.
29
30 Page 4, strike line 6 and substitute "OFFERS OR SELLS ANY PROPERTY
31 INSURANCE, INCLUDING COMMERCIAL PROPERTY INSURANCE.".
32
33 Page 4, after line 6 insert:
34
35 "(6) "PROPERTY INSURANCE" MEANS INSURANCE AGAINST DIRECT
36 LOSS TO RESIDENTIAL PROPERTY, INCLUDING BUILDINGS AND BUILDING
37 CONTENTS, RESULTING FROM THE PERILS OF FIRE, PERILS COVERED UNDER
38 EXTENDED COVERAGE, VANDALISM, OR MALICIOUS MISCHIEF. "PROPERTY
39 INSURANCE" DOES NOT INCLUDE AUTOMOBILE INSURANCE OR FARM
40 RISKS.".
41
42 Page 4, line 11, strike "LEGAL" and substitute "PUBLIC".
43
44 Page 4, line 12, strike "MEMBER'S" and substitute "MEMBER INSURER'S".
45
46 Page 4, lines 18 and 19, strike "HELP PERSONS OBTAIN" and substitute
47 "PROVIDE".
48
49 Page 4, line 20, after "COMMERCIAL" insert "PROPERTY".
50
51 Page 4, strike lines 22 and 23 and substitute:
52
53 "(3) THE FAIR PLAN ASSOCIATION SHALL:".
54
55
1 Page 4, line 24, after "INSURANCE" add "AND A COMMERCIAL PROPERTY
2 INSURANCE".
3
4 Page 4, line 25, strike "SATISFIES" and substitute "SATISFY".
5
6 Page 5, strike line 2 and substitute "MEMBER INSURER'S WRITTEN PREMIUM
7 FOR PROPERTY AND COMMERCIAL PROPERTY INSURANCE".
8
9 Page 5, strike lines 4 through 8 and substitute:
10
11 "(4) THE FAIR PLAN ASSOCIATION MAY ISSUE PROPERTY
12 INSURANCE POLICIES, INCLUDING COMMERCIAL PROPERTY INSURANCE
13 POLICIES, AND REINSURE IN WHOLE OR IN PART ANY SUCH POLICIES, CEDE
14 ANY SUCH REINSURANCE, OR TRANSFER RISK TO OTHER CAPITAL
15 MARKETS.".
16
17 Page 5, line 17, strike "NINE".
18
19 Page 5, strike line 19 and substitute:
20
21 "(I) TWO MEMBERS REPRESENTING ADMITTED MUTUAL INSURERS".
22
23 Page 5, strike line 21 and substitute:
24
25 "(II) TWO MEMBERS REPRESENTING ADMITTED STOCK INSURERS".
26
27 Page 5, strike lines 26 and 27.
28
29 Page 6, strike line 1.
30
31 Renumber succeeding subparagraphs accordingly.
32
33 Page 6, line 8, strike "THREE" and substitute "TWO".
34
35 Page 6, line 9, after "REPRESENTING" insert "CONSUMER ADVOCACY
36 ORGANIZATIONS AND".
37
38 Page 6, lines 21 and 22, strike "(1)(a)(V) OR (1)(a)(VI)" and substitute
39 "(1)(a)(IV) OR (1)(a)(V)".
40
41 Page 6, line 24, strike "ONE OF THE MEMBERS" and substitute "THE
42 MEMBER".
43
44 Page 6, line 25, strike "OR (1)(a)(IV)".
45
46 Page 6, line 26, strike "(1)(a)(VII)" and substitute "(1)(a)(VI)".
47
48 Page 7, line 6, strike "INITIATIVE, OR SHALL," and substitute "INITIATIVE
49 OR".
50
51 Page 7, strike lines 10 through 14.
52
53 Renumber succeeding subsection accordingly.
54
55
1 Page 8, line 16, strike "REINSURANCE." and substitute "REINSURANCE OR
2 OTHER CAPITAL RISK TRANSFER MARKETS.".
3
4 Page 8, line 23, strike "IS CONSISTENT WITH" and substitute "SATISFIES".
5
6 Page 9, lines 2 and 3, strike "ONE MILLION DOLLARS FOR HOMEOWNERS"
7 and substitute "SEVEN HUNDRED FIFTY THOUSAND DOLLARS FOR
8 PROPERTY".
9
10 Page 9, line 15, after "PROPERTY" insert "and "AND COMMERCIAL
11 PROPERTY".
12
13 Page 9, line 18, after "PROPERTY" insert "AND COMMERCIAL PROPERTY".
14
15 Page 9, line 26, after "OPERATION" insert "THAT SATISFIES THIS PART 18".
16
17 Page 10, strike lines 7 through 22 and substitute:
18
19 "(4) (a) IF THE COMMISSIONER DETERMINES THAT AN APPROVED
20 PLAN OF OPERATION IS INSUFFICIENT TO SATISFY THE REQUIREMENTS OF
21 THIS PART 18, THE COMMISSIONER SHALL PROVIDE AT LEAST THIRTY DAYS'
22 NOTICE TO THE BOARD OF THE COMMISSIONER'S INTENT TO REVOKE
23 APPROVAL OF ALL OR PART OF THE PLAN OF OPERATION. WITHIN THIRTY
24 DAYS AFTER THE COMMISSIONER'S NOTICE OF INTENT TO REVOKE THE PLAN
25 OF OPERATION, THE BOARD MAY SUBMIT A REVISED PLAN OF OPERATION
26 OR REVISED PART OF THE PLAN OF OPERATION FOR THE COMMISSIONER'S
27 REVIEW AND APPROVAL.
28 (b) IF THE BOARD FAILS TO SUBMIT A REVISED PLAN OF OPERATION
29 WITHIN THIRTY DAYS AFTER THE NOTICE PROVIDED PURSUANT TO
30 SUBSECTION (4)(a) OF THIS SECTION, THE COMMISSIONER MAY MAKE
31 SPECIFIC CHANGES TO THE EXISTING PLAN OF OPERATION SO THAT THE
32 PLAN SATISFIES THE REQUIREMENTS OF THIS PART 18. THE
33 COMMISSIONER'S CHANGES TO THE PLAN OF OPERATION DO NOT AFFECT
34 THE VALIDITY OF ANY POLICIES EXECUTED BEFORE THE DATE OF THE
35 CHANGE.
36 (c) IF THE BOARD SUBSEQUENTLY SUBMITS A SUITABLE PLAN OF
37 OPERATION TO SATISFY THE REQUIREMENTS OF THIS PART 18, THAT PLAN
38 OF OPERATION OR AMENDMENTS SUPERSEDES THE COMMISSIONER'S
39 CHANGES.
40 10-4-1808. FAIR plans - requirements for licensed producers.
41 THE FAIR PLAN ASSOCIATION SHALL NOT SELL A POLICY SUBJECT TO THIS
42 PART 18 DIRECTLY TO ANY PERSON OR ENTITY. A FAIR PLAN POLICY MAY
43 BE ISSUED ONLY THOUGH A LICENSED PRODUCER WHO SHALL, ON BEHALF
44 OF A PERSON OR ENTITY, INCLUDE EVIDENCE OF AT LEAST THREE
45 DECLINATIONS OF COVERAGE FOR THE PROPERTY AS PART OF THE
46 SUBMITTAL OF AN APPLICATION FOR A POLICY WITH THE FAIR PLAN
47 ASSOCIATION.".
48
49 Renumber succeeding C.R.S. sections.
50
51 Page 10, line 23, strike "fees - tax offset." and substitute "fees.".
52
53 Page 10, line 27, strike "RECOVER" and substitute "RECOUP".
54
55
1 Page 11, strike lines 12 through 23 and substitute "(2)(a) OF THIS SECTION
2 MAY RECOUP THE FEE DIRECTLY FROM THE MEMBER INSURER'S
3 POLICYHOLDERS AS A SURCHARGE ON THE POLICYHOLDERS. THE
4 SURCHARGE MAY BE RECOUPED OVER A REASONABLE AMOUNT OF TIME.
5 (c) A MEMBER INSURER SHALL NOT INCREASE PREMIUMS BASED ON
6 A FEE ASSESSED PURSUANT TO SUBSECTION (2)(a) OF THIS SECTION.
7 (d) THE FEE DESCRIBED IN SUBSECTION (2)(a) OF THIS SECTION IS
8 NOT A PREMIUM FOR ANY PURPOSE, INCLUDING THE COMPUTATION OF THE
9 GROSS PREMIUM TAX DESCRIBED IN SECTION 10-3-209, OR A LICENSED
10 PRODUCER'S COMMISSION.".
11
12 Page 12, strike lines 22 through 27.
13
14 Page 13, strike lines 1 through 4 and substitute:
15
16 "10-4-1811. Appeals - judicial review. ANY FINAL ACTION OR
17 ORDER OF THE COMMISSIONER ISSUED PURSUANT TO THIS PART 18 IS
18 SUBJECT TO JUDICIAL REVIEW BY THE COURT OF APPEALS PURSUANT TO
19 SECTION 24-4-106 (11).".
House Journal, April 19
54 Amend printed bill, page 7, line 1, strike "AN UNLIMITED NUMBER OF" and
55 substitute "FOUR".
56
1 As amended, ordered engrossed and placed on the Calendar for Third
2 Reading and Final Passage.