7 Colo. Code Regs. § 1101-4, pt. 1
The specific right of the Executive Director to issue and revoke permits which allow employers to fulfill their insurance requirements under the Workers' Compensation Act of Colorado by the self-insured method is found under § 8-44-201. C.R.S.
The following rules set forth procedures for applying for a self-insurance permit, submission of periodic reports for retention of self-insured status, approval or denial of applications and revocation of a permit. Also set forth by these rules are the security deposit and insurance requirements of self-insurers and the authority of the Executive Director to perform audits to determine adequacy of reserves and security or require an audit and certified statement by an independent source.
7 CCR 1101-4, pt. 1