CO HB1108

The Insurance Commissioner must conduct a market study of property and casualty insurance policies issued to unit owners' associations in common interest communities and owners of lodging facilities in Colorado.

The study must examine current market conditions including coverage availability and affordability differentiated by county or zip code, and identify areas of Colorado with particular availability concerns.

The Commissioner may contract with a third party to conduct the study using a competitive procurement process and may collect data from insurers regarding their coverage locations, underwriting criteria, loss and expense ratios, and other relevant information.

The Commissioner must submit a report summarizing the study results to the Joint Budget Committee and relevant legislative committees by January 1, 2026, and may include information about self-insured mechanisms and captive insurance companies.

The statute authorizing this study is repealed effective July 1, 2026, and $329,863 is appropriated from the Division of Insurance cash fund for fiscal year 2024-25 to implement the study.