Insurance Holding Company Model Regulation

The bill updates Colorado state laws concerning insurance company holding systems to align with the National Association of Insurance Commissioners' model act. The changes include updating:

• The registration requirements for the ultimate controlling person of each insurer by adding new filing requirements to be included with the division of insurance's (division) existing registration requirements;
• The standards for insurance holding company transactions subject to registration with the division;
• Language concerning the confidential treatment of documents to include proprietary and trade secret documents and materials; and
• The regulatory tools that the division may use for the regulation of insurance holding companies.

The bill also makes technical amendments.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)