Title 10, Insurance
0 chapters · 1,354 sections in this title.
Colo. Rev. Stat. § 10-7-704 Insurable interest
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(1) An insurable interest, with reference to insurance on the life of another, exists only as follows: (a) An individual has an insurable interest in the life of another person in whom the individual has a substantial interest engendered by love and affection in the continuation …
Colo. Rev. Stat. § 10-7-705 Insured's own life
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An individual has an insurable interest in the individual's own life, and an individual of competent legal capacity who procures or effects a policy on the individual's own life may designate any person as the beneficiary and, unless the individual elects an irrevocable beneficia…
Colo. Rev. Stat. § 10-7-706 Reliance on statements
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An insurer is entitled to rely upon all reasonable statements, declarations, and representations made by an applicant for life insurance relative to the existence of an insurable interest. No insurer incurs legal liability, except as set forth in the policy, by virtue of untrue s…
Colo. Rev. Stat. § 10-7-707 Consent of insured
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(1) A policy upon the life of an individual, other than a policy of noncontributory group life insurance, shall not be effected unless, at or before the time the policy is effectuated, the individual insured, having legal capacity to contract, applies for or consents in writing t…
Colo. Rev. Stat. § 10-7-708 Prohibited practices
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(1) It is unlawful for any person to procure, or cause to be procured or effected, a policy in violation of section 10-7-703. Such conduct is an unfair or deceptive act or practice pursuant to section 10-3-1104. (2) It is unlawful for any person to engage in stranger originated l…
Colo. Rev. Stat. § 10-7-709 Actions to recover death benefits
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If the beneficiary, assignee, or other payee received the death benefits under a life insurance policy procured or effected in violation of this article, the personal representative of the insured's estate or other lawfully acting agent may maintain an action to recover the death…
Colo. Rev. Stat. § 10-7-710 Legitimate insurance transactions
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(1) Except where a life insurance policy is procured or effected in violation of section 10-7-708, nothing in this article prevents: (a) An owner of a policy, whether or not the owner of the policy is also the subject of the insurance, from entering into a viatical settlement con…
Colo. Rev. Stat. § 10-7-801 Short title
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The short title of this part 8 is the Unclaimed Life Insurance Benefits Act. Source: L. 2019: Entire part added, (SB 19-088), ch. 110, p. 463, � 4, effective July 1, 2020.
Colo. Rev. Stat. § 10-7-802 Definitions
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As used in this part 8, unless the context otherwise requires: (1) Contract means an annuity contract. The term does not include an annuity used to fund an employment-based retirement plan or program if: (a) The insurer does not perform the record-keeping services; or (b) The ins…
Colo. Rev. Stat. § 10-7-803 Insurers - duty to compare names of insureds with death master file and to locate beneficiaries
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(1) An insurer shall make a good faith effort to determine the death of an insured upon receipt of knowledge of death. (2) An insurer shall perform a comparison of its insureds’ in-force policies, contracts, and retained asset accounts against a death master file, on at least a s…
Colo. Rev. Stat. § 10-8-301 (Repealed)
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Source: L. 92: Entire part repealed, p. 1728, � 22, effective July 1. Editor's note: This part 3 was added in 1975 and was not amended prior to its repeal in 1992. For the text of this part 3 prior to 1992, consult the Colorado statutory research explanatory note and the table it…
Colo. Rev. Stat. § 10-8-401 (Repealed)
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Source: L. 92: Entire part repealed, p. 1728, � 22, effective July 1. Editor's note: This part 4 was added in 1984. For amendments to this part 4 prior to its repeal in 1992, consult the Colorado statutory research explanatory note and the table itemizing the replacement volumes …
Colo. Rev. Stat. § 10-10-101 Short title
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This article shall be known and may be cited as the Credit Insurance Act. Source: L. 69: p. 536, � 2. C.R.S. 1963: � 72-28-2. L. 92: Entire section amended, p. 1569, � 81, effective May 20.
Colo. Rev. Stat. § 10-10-102 Legislative declaration
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The purpose of this article is to promote the public welfare by regulating credit insurance. Nothing in this article is intended to prohibit or discourage reasonable competition. The provisions of this article shall be liberally construed. Source: L. 69: p. 536, � 1. C.R.S. 1963:…
Colo. Rev. Stat. § 10-10-103 Definitions
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As used in this article, unless the context otherwise requires: (1) Commissioner means the commissioner of insurance of Colorado. (2) Credit insurance means insurance on a debtor to provide indemnity for payments or loan balance, or any combination thereof, becoming due on a spec…
Colo. Rev. Stat. § 10-10-104 Application of article
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All insurance in connection with loans or other credit transactions shall be subject to the provisions of this article. Insurance shall not be subject to the provisions of this article where the issuance of such insurance is an isolated transaction on the part of the insurer not …
Colo. Rev. Stat. § 10-10-105 Forms of credit life insurance and credit accident and health insurance. (Repealed)
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C.R.S. 10-10-105Statutes current through Chapter 65 of the 2026 Regular Session, effective as of April 20, 2026. The text of this section is not final. It will not be final until compared to, and updated from, the text provided by the Colorado Office of Legislative Legal Services…
Colo. Rev. Stat. § 10-10-106 Amount of credit insurance
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(1) The initial amount of credit insurance shall not exceed the total amount repayable under the contract of indebtedness and, where an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amount of…
Colo. Rev. Stat. § 10-10-107 Term of credit insurance
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The term of any credit insurance shall, subject to acceptance by the insurer, commence on the date when the debtor becomes obligated to the creditor; except that, where a group policy provides coverage with respect to existing obligations, the insurance on a debtor with respect t…
Colo. Rev. Stat. § 10-10-108 Provisions of policies and certificates of insurance - disclosure to debtors
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(1) All credit insurance shall be evidenced by an individual policy or, in the case of group insurance, by a certificate of insurance, which individual policy or group certificate of insurance shall be delivered to the debtor. (2) Each individual policy or group certificate of cr…
Colo. Rev. Stat. § 10-10-109 Filing form certification - filing of rating data - withdrawal of forms
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(1) All policies, certificates of insurance, notices of proposed insurance, applications for insurance, endorsements, and riders delivered or issued for delivery in this state shall be certified, and the schedules of premium rates pertaining thereto shall be filed with the commis…
Colo. Rev. Stat. § 10-10-110 Premiums and refunds
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(1) (a) If an insurer has elected to file pursuant to section 10-10-109 (2.5)(b), the insurer may revise its schedules of premium rates from time to time and shall file such revised schedules with the commissioner. No insurer shall issue any credit insurance policy for which the …
Colo. Rev. Stat. § 10-10-111 Issuance of policies
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All policies of credit insurance shall be delivered or issued for delivery in this state only by an insurer authorized to do an insurance business therein and shall be issued only through holders of licenses or authorizations issued by the commissioner. Source: L. 69: p. 540, � 1…
Colo. Rev. Stat. § 10-10-112 Claims
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(1) All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. (2) All claims shall b…
Colo. Rev. Stat. § 10-10-113 Existing insurance - choice of insurer
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When credit insurance is required as additional security for any indebtedness, the debtor shall, upon request to the creditor, have the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by him or of procuring and furn…
Colo. Rev. Stat. § 10-10-114 Enforcement
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The commissioner may, after notice and hearing, issue such rules and regulations as he deems appropriate for the supervision of this article. If the commissioner finds that there has been a violation of this article or any rules or regulations issued pursuant thereto, and after w…
Colo. Rev. Stat. § 10-10-115 Judicial review
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Any party to the proceeding affected by an order of the commissioner shall be entitled to judicial review by the court of appeals by following the procedure set forth in section 24-4-106 (11), C.R.S. Source: L. 69: p. 541, � 15. C.R.S. 1963: � 72-28-15. L. 92: Entire section amen…
Colo. Rev. Stat. § 10-10-116 Penalties
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In addition to any other penalty provided by law, any person, firm, or corporation which violates an order of the commissioner after it has become final, and while such order is in effect, shall, upon proof thereof to the satisfaction of the court, forfeit and pay to the division…
Colo. Rev. Stat. § 10-10-117 Insurance expense not computed as cost of loan
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In connection with insurance which is permitted under this article, the premium and any gain or advantage to the creditor, or to any employee, affiliate, or associate of the creditor, from such insurance or its sale shall not be deemed to be an additional or further interest, dis…
Colo. Rev. Stat. § 10-10-118 Charge accounts
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Nothing in this article shall be construed to permit credit insurance to be required by any creditor for revolving charge accounts or any other charge accounts for the purchase of goods or services. Source: L. 69: p. 541, � 18. C.R.S. 1963: � 72-28-18. L. 92: Entire section amend…
Colo. Rev. Stat. § 10-10-119 Truncated coverage
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(1) If the debtor elects truncated coverage, at the time of election the creditor shall inform the debtor in writing of the term of the insurance coverage and that the coverage will terminate prior to the scheduled maturity date of the indebtedness. (2) A group certificate or ind…
Colo. Rev. Stat. § 10-11-101 Short title
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This article shall be known and may be cited as the Title Insurance Code of Colorado. Source: L. 69: p. 520, � 1. C.R.S. 1963: � 72-26-1.
Colo. Rev. Stat. § 10-11-102 Definitions
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As used in this article 11, unless the context otherwise requires: (1) Affiliate or subsidiary means a person who directly or indirectly, through one or more intermediaries: (a) Controls a title insurance agent or title insurance company; (b) Is controlled by a title insurance co…
Colo. Rev. Stat. § 10-11-103 Compliance with article required
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On and after July 1, 1969, no company shall underwrite or issue a policy of title insurance or otherwise engage in the business of title insurance in this state unless authorized by the provisions of this article to transact such a business. Source: L. 69: p. 521, � 1. C.R.S. 196…
Colo. Rev. Stat. § 10-11-104 Corporate form required
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Any domestic title insurance company formed after July 1, 1969, shall be organized as a stock corporation as provided in section 10-3-101. Source: L. 69: p. 521, � 1. C.R.S. 1963: � 72-26-4.
Colo. Rev. Stat. § 10-11-105 Financial requirements prior to this article
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(1) Every domestic title insurance company which on July 1, 1969, has the capital required by law and whose reserve fund required by law has been approved by the state bank commissioner shall have until July 1 in the tenth year after July 1, 1969, to comply with the financial req…
Colo. Rev. Stat. § 10-11-106 Determination of insurability required
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(1) No policy or contract of title insurance shall be written unless and until the title insurance company has caused to be conducted a reasonable examination of the title and has caused to be made a determination of insurability of title in accordance with sound underwriting pra…
Colo. Rev. Stat. § 10-11-107 Powers
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(1) Every title insurance company has the following powers: (a) To do the business defined in section 10-11-102 (3) and (8); (b) To own, manage, and maintain sets of abstract books and to make, compile, and sell abstracts of title to real estate; (c) To acquire by purchase or oth…
Colo. Rev. Stat. § 10-11-108 Prohibitions
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(1) A title insurance company or title insurance agent shall not: (a) Engage in the business of guaranteeing the payment of the principal or the interest of bonds, notes, or other obligations; (b) Transact, underwrite, or issue any kind of insurance other than title insurance; (c…
Colo. Rev. Stat. § 10-11-109 Unearned premium reserve
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(1) In lieu of those reserves required for other insurance companies, every domestic title insurance company, and every foreign or alien title insurance company which under the state of domicile is not required to maintain a substantially equivalent unearned premium reserve, shal…
Colo. Rev. Stat. § 10-11-110 Amount of unearned premium reserve - release
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(1) The unearned premium reserve of every title insurance company required to maintain such reserves in this state shall consist of: (a) The amount of the unearned premium reserve held as of July 1, 1969, pursuant to law; and (b) The amount of all additions required to be made to…
Colo. Rev. Stat. § 10-11-111 Reserve for unpaid losses and loss expense
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(1) Each title insurance company, in addition to other reserves, shall at all times establish and maintain reserves against unpaid losses, and against loss expense, and shall calculate such reserves by making a careful estimate in each case of the loss and loss expense likely to …
Colo. Rev. Stat. § 10-11-112 Net retained liability
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The net retained liability of any title insurance company under any single insurance risk, as defined in section 10-11-102 (4) and (7), shall not exceed fifty percent of the net amount remaining after deducting from the sum of its capital, surplus, unearned premium reserve, and v…
Colo. Rev. Stat. § 10-11-113 Power to reinsure
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Any title insurance company may cede reinsurance of all or any part of its liability under one or more of its policies, contracts, or reinsurance agreements of title insurance to any reinsurer which meets or exceeds the financial requirements of a title insurance company to do bu…
Colo. Rev. Stat. § 10-11-114 Legal investments and admitted assets
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(1) Title insurance companies shall comply with the investment requirements for other insurance companies under the laws of this state but, in addition, may invest in a title plant. Such title plant shall be considered an admitted asset as provided by nationally recognized insura…
Colo. Rev. Stat. § 10-11-115 Prior investments
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Any investment of a title insurance company lawfully acquired before July 1, 1969, and which but for this section would be considered ineligible as an investment on such date shall be disposed of within five years from such date. The commissioner, upon application and proof that …
Colo. Rev. Stat. § 10-11-116 Title insurance agents licensed
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(1) (a) Title insurance agents shall be licensed in the manner provided for insurance producers in part 4 of article 2 of this title, except as otherwise provided in this section. (b) Full-time employees of a corporate contractual agent of a title insurance company authorized by …
Colo. Rev. Stat. § 10-11-117 Title insurance agents - certain names prohibited
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On and after July 1, 1969, no agent for a title insurance company shall adopt a firm name containing the words title insurance, title guaranty, or title guarantee, unless such words are followed by the words agent or agency. The words agent or agency must be in the same size and …
Colo. Rev. Stat. § 10-11-118 Title insurance - rules
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(1) Title insurance rates and fees shall be regulated in the manner provided in part 4 of article 4 of this title. (2) Prior to the effective date of any new or amended rate or fee, every title insurance company and title insurance agent shall file with the commissioner the new o…
Colo. Rev. Stat. § 10-11-119 Laws applicable
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In addition to the provisions of this article, the laws governing insurance companies, except as they are inconsistent with the provisions of this article, shall apply to the business of title insurance and to title insurance companies. Source: L. 69: p. 526, � 1. C.R.S. 1963: � …