CO| Amended Colorado Regulation 4-2-3 (3 CCR 702-4) governs advertisements of accident and sickness insurance in Colorado, establishing minimum standards to ensure clear, accurate, and non-misleading marketing across all media, including digital channels, and requiring truthful disclosure of benefits, limitations, exclusions, renewability terms, and insurer identity, while imposing oversight, recordkeeping, and enforcement mechanisms on insurers and producers, with an effective date of May 15, 2026.
Key Points:
- Applies broadly to any advertisement of accident and sickness insurance in Colorado, including emails, texts, social media, websites, SBCs, and Colorado SBC supplements, with detailed inclusions and exclusions in the definition.
- Requires conspicuous disclosure of exceptions, limitations, reductions, policy provisions (e.g., renewability, cancellations), and prohibits unfair, deceptive, or misleading formats, special offers, and improper statements about an insurer.
- Mandates that insurers maintain control systems and advertising files (retained at least four years), and provides for sanctions such as civil penalties, cease-and-desist orders, and license actions for noncompliance.