CO HB1319

Adds Colorado Revised Statutes section 10-4-122 establishing standards for appraiser and umpire impartiality in insurance claim appraisals conducted under contractual appraisal clauses.

Prohibits appraisers from having direct material interest in appraisal amounts and requires disclosure of any known facts that could affect the appraiser's valuation to all parties at any time.

Restricts communication between parties and opposing appraisers without consent and participation of both parties, except appraisers may directly communicate with each other to reach settlement amounts.

Prohibits ex parte communications between the umpire and any insurer, insured, adjusters, attorneys, appraisers, or other representatives during the appraisal process.

Requires umpire to disclose financial interests, personal relationships, and any facts learned after appointment that a reasonable person would consider likely to affect impartiality; applies to appraisals conducted on or after the effective date of August 9, 2017.