The Division would like to provide notice that the Commissioner has repealed the following regulation and adopted the following new bulletins:
Regulation 5-1-19 was specific to the catastrophic flooding of 2013. The regulation was written in response to companies' underwriting actions while homeowners were trying to recover. This regulation is no longer necessary since it was specific to this one event.
This repeal will become effective on February 14, 2025.
The purpose of this bulletin is to provide guidance on the revised processes as set forth in 89 Fed. Reg. FR 23338-01, “Short-Term, Limited Duration Insurance (“STLDI”) and Independent, Non-coordinated Excepted Benefits Coverage”, published on April 3, 2024, by the Department of Labor, Department of the Treasury, and Department of Health and Human Services. This bulletin provides the notice that will be used as defined in 45 C.F.R. § 146.145(b)(4)(ii)(D) and §148.220(b)(4)(iii), and Colorado Insurance Regulation 4-2-40.
This bulletin is effective on December 12, 2024.
Reduced benefit options (RBOs) are choices provided to long-term care policyholders regarding modifications to long-term care insurance contract benefits when the policyholder’s policy is no longer affordable due to premium rate increases. The purpose of this bulletin is to provide carriers with guidance on minimum standards for Reduced Benefit Options.
This bulletin is effective on December 13, 2024.
Regulations that have been adopted or repealed, but are not yet effective can be found on the Division's Regulations Adopted But Not Yet Effective website.
These bulletins, and other Division bulletins, can be found on the Division's website.