The Division is seeking comments on the following draft proposed amended regulations:
The purpose of this regulation is to require producers, as defined in this regulation, to act in the best interest of the consumer when making a recommendation of an annuity and to require insurers to establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of consumers at the time of the transaction are effectively addressed.
This regulation is being amended to align with changes made to the National Association of Insurance Commissioners (NAIC) Model Regulation #275, Suitability in Annuity Transactions.
The purpose of this regulation is to ensure that consumers receive the benefits of competition in the area of title insurance and to ensure consumer protection.
This regulation is being amended to include a reporting requirement if a title entity fails to issue a policy within the regulatory time frame of 90 days.
The Division is requesting informal comments be submitted to DORA_INS_RulesandRecords@state.co.us no later than 5 PM, March 15, 2022.
This draft regulation, as well as other draft regulations currently released for informal public comment, can be found on the Division's page for Draft Regulations and Bulletins for Informal Comments.