SB22-035 Summary

• Allows independent contractor truck drivers (owner-operators) in Colorado to purchase occupational accident insurance as an alternative to traditional workers' compensation coverage.

• Requires occupational accident insurance policies to provide a minimum aggregate policy limit of $1.5 million for all benefits including medical, temporary and permanent disability, death and dismemberment, and survivor benefits.

• Exempts operators who obtain similar coverage from articles 40 to 47 of title 8 (Colorado workers' compensation laws).

• Defines "operator" as a commercial vehicle owner/lessee who is a sole proprietor, owner, partner, or shareholder (maximum two shareholders) of an applicable business entity.

• Takes effect 12:01 a.m. on the day following the 90-day period after final adjournment of the general assembly, or upon voter approval in November 2022 if a referendum petition is filed.