MDAHU LEGISLATIVE UPDATE

 

December 31, 2020 - December 31, 2020
9:00 AM MST - 11:30 AM MST
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NOTICE: Renewals, Procedures, and Proctoring Requirements related to Insurance Producer, Insurance Agency, Cash-Bonding Agent, and Professional Cash-Bonding Agent License Requirements

October 13, 2020

Background and Purpose:

On April 2, 2020, the Colorado Division of Insurance (“Division”) adopted Emergency Regulation 20-E-04. Under Emergency Regulation 20-E-04, the Division temporarily waived proctoring requirements for continuing education exams and continued license and registration renewal deadlines. This included the associated procedures for license and registration continuation, continuing education requirements, and licensing fees.

Emergency Regulation 20-E-04 contemplated that the Division would provide all current insurance producers, insurance agencies, cash-bonding agents, and professional cash-bail agents affected by the temporary continuation sixty (60) days notice to come into compliance prior to the expiration of the emergency license continuation. 

Accordingly, the Division is providing notice of the following requirements to all insurance producers, insurance agencies, cash-bonding agents, and professional cash-bail agents affected by the temporary continuation. 

Notice: Licenses with Expiration Dates between March 31, 2020 and December 31, 2020

All insurance producers, insurance agencies, cash-bonding agents, and professional cash-bail agents who were granted, benefitted from, or affected by temporary continuation of license renewal deadlines, associated procedures, including continuing education requirements and licensing fees, must come into compliance with all applicable Colorado insurance laws, including, but not limited to, C.R.S. § 10-2-101, et seq., C.R.S. § 10-23-102, et seq., and Division Regulations 1-2-10, 1-2-4, 7-1-1, 7-1-2,  by December 31, 2020.

Failure to come into compliance with renewal deadlines, associated procedures, continuing education requirements, and licensing fees by the deadline will result in license expiration and, when applicable, administrative action, including license suspensions, revocations, or any other sanction under Colorado insurance laws.

The Grace Period, as provided in C.R.S. § 10-23-102(3)(b) and Division Regulation 7-1-1, remains applicable to any cash-bonding agents and professional cash-bail agents whose registration expires between the date of this Notice and December 31, 2020.  

Proctoring Requirements

Effective December 31, 2020, the proctoring requirements contained in Colorado Insurance Regulation 1-2-4, Section (5)(c)(1)(d) are no longer waived and must be satisfied.

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