DEPARTMENT OF REGULATORY AGENCIES
Division of Insurance
3 CCR 702-1
administrative procedures
Amended Regulation 1-1-9
ELECTRONIC RATE FILING AND EXEMPTION TO ELECTRONIC RATE FILING REQUIREMENTS DUE TO AN EMERGENCY SITUATION
Section 1 Authority
Section 2 Scope and Purpose
Section 3 Applicability
Section 4 Rule
Section 5 Severability
Section 6 Enforcement
Section 7 Effective Date
Section 8 History
Section 1 Authority
This regulation is promulgated under the authority of §§ 10-1-109, 10-4-401(5) and 10-16-107(1), C.R.S.
Section 2 Scope and Purpose
The purpose of this regulation is to prescribe the format for electronic rate filings with the Division of Insurance (Division), and to set forth the circumstances that would be considered an emergency situation exempting insurers and carriers from making electronic rate filings.
Section 3 Applicability
The requirements of this regulation shall apply to all insurance companies who file type II rates for property and casualty insurance rate filings subject to parts 1 through 4 of Article 4 of Title 10, C.R.S., and for health rate filings subject to Article 16 of Title 10.
Section 4 Rule
A. The following situations are defined as an emergency situation that would exempt insurers and carriers from making electronic rate filings;
1. At the written request of an insurer or carrier, the commissioner determines a catastrophic event has occurred affecting the insurer or carrier, such as: an act of God, war or other attack, explosion, fire, flood, storm or similar event which prevents the carrier from filing rates electronically for a period estimated to be more than 30 days; or
2. Any other circumstances the commissioner deems to be an emergency situation.
B. Except as a result of an event described in section 4.A, an emergency situation does not exist due to an insurer’s failure to have adequate, properly trained staff to file rates electronically.
C. The Division will only accept electronic filings submitted through SERFF (System for Electronic Rate and Form Filing). Information regarding SERFF can be located at www.SERFF.com.
Section 5 Severability
If any provision of this regulation or application of it to any person or circumstance is for any reason held to be invalid, the remainder of this regulation shall not be affected.
Section 6 Enforcement
Noncompliance with this regulation may result in the imposition of any of the sanctions made available in the Colorado statutes pertaining to the business of insurance, or other laws, which include the imposition of civil penalties, issuance of cease and desist orders, and/or suspensions or revocation of license, subject to the requirements of due process.
Section 7 Effective Date
This regulation shall be effective November 1, 2017.
Section 8 History
New Colorado Regulation 1-1-9 effective February 1, 2008.
Amended Regulation 1-1-9 effective April 1, 2013.
Amended Regulation effective November 1, 2017.