CO SB274

Adds disability insurance as a type of insurance that nonadmitted insurers can offer through surplus lines insurance in Colorado.

Defines disability insurance as supplemental coverage that exceeds policy limits from admitted insurers, provides income replacement for individuals with disabilities, and does not cover diagnosis or treatment of the disability.

Amends Colorado's legislative declaration and definitions to include disability insurance alongside property and casualty insurance in the regulation of nonadmitted insurance transactions.

Takes effect 90 days after the 2017 legislative session ends (August 9, 2017), subject to voter approval if a referendum petition is filed within that period.

Applies to disability insurance policies offered on or after the effective date of the act.