CO| The Colorado Division of Insurance issues New Regulation 1-1-11, effective May 15, 2026, establishes requirements for insurers and insurance producers, other than title insurers and agents, to submit, notify, or obtain approval from the Division before offering value-added products or services, including a pilot program process with 30-day Division review timelines and evidentiary standards to show offerings are not unfairly discriminatory.
Key Points:
- It sets maximum permissible values for noncash gifts, items, or services tied to the marketing, sale, purchase, or retention of insurance: up to an aggregate of 100 dollars per customer policy per year for most customers, and for commercial or institutional customers the lesser of 5% of current or projected premium or 250 dollars per policy per year, provided the cost is reasonable relative to the premium and not passed on to others.
- The regulation incorporates statutory definitions by reference, requires a Confidentiality Index for any filings sought to be treated as confidential under the Colorado Open Records Act, preserves the remainder of the rule if any provision is held invalid, and provides that noncompliance may result in civil penalties, cease and desist orders, or license suspension or revocation consistent with Colorado insurance statutes and due process.