This article shall be known and may be cited as the "Colorado Consumer Protection Act". C.R.S. § 6-1-101 L. 69: p. 376, § 13. C.R.S. 1963: § 55-5-13.
(1) No insurer shall increase the premium unilaterally or decrease the coverage benefits on renewal of a policy of insurance that provides coverages on commercial exposures such as general comprehensive liability, municipal liability, automobile liability and physical damage, fidelity and surety, fire and allied lines, inland marine, errors and omissions, excess liability, products liability, police liability, professional liability, or false arrest insurance unless the insurer mails by first-class