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Protect Against Insurers' Impairment And Insolvency

It became law on May 15, 2023.

CO HB 23-1303 · House Bill · 2023A

Stage
Became law
Started in
House
Sponsors
4
Latest action
May 15, 2023

What it does

The act amends the priority of distribution of insurance claims paid from an insurer's estate in the event of the insurer's liquidation to include in the class 1 distribution priority payments that an impaired or insolvent insurer owes to the risk adjustment program that are necessary to prevent another insurer from becoming impaired or insolvent. This prioritization adjustment repeals on July 1, 2026. The act also amends the "Life and Health Insurance Protection Association Act" as follows:

Read the full text

Where it stands

This bill passed and is now law.

  1. Introduced (Done)

  2. Committee (Done)

  3. Floor (Done)

  4. Law (Done)

    May 15, 2023

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Who is involved

Sponsors

The lawmakers who put their names on it, lead sponsors first.

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Where it goes next

Once a bill is decided, the questions are about what is done with it in Colorado.

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Protect Against Insurers' Impairment And Insolvency | 52