CO SB204

Eliminates "on behalf of" language from current law, restricting double damages and attorney fees claims to named insureds and persons defined as insureds under the insurance policy, rather than third parties acting on their behalf.

Adds exception for health coverage plans, which continue to allow individuals, corporations, associations, partnerships, or other legal entities to assert claims on behalf of insureds.

Makes remedies from property and casualty claims non-assignable by first-party claimants or anyone acting on their behalf, preventing transfer of the right to recover damages.

Requires insureds to provide notice to property and casualty insurers of intent to file for double damages and attorney fees.

Takes effect 90 days after final adjournment of the general assembly (August 9, 2017) unless subject to referendum petition, with application to surety bonds excluded.