Statutes, codes, and regulations
Colorado Administrative Code
Department 700 - Department of Regulatory AgenciesDivision 702 - Division of InsuranceRule 3 CCR 702-1 - ADMINISTRATIVE PROCEDURES
Regulation Regulation 1-2-6 - CONCERNING REINSURANCE INTERMEDIARIES
Section 3 CCR 702-1-2-6-4 - Filing Requirements For Licensure As A Reinsurance Intermediary - Producer

3 Colo. Code Regs. § 702-1-2-6-4

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Current through Register Vol. 47, No. 20, October 25, 2024
Section 3 CCR 702-1-2-6-4 - Filing Requirements For Licensure As A Reinsurance Intermediary - Producer
A. Any person, firm, association, or corporation initially applying to be a reinsurance intermediary-producer must submit the following information to the Colorado Division of Insurance:
1. Completed application on the form prescribed by the Commissioner, which is available upon request.
2. Completed biographical affidavits prepared on the National Association of Insurance Commissioners (NAIC) form, including full disclosure of any and all past situations that involved legal actions, stipulated settlements, judgments or arbitration. If the applicant is an association or corporation, this information must be furnished for all officers, directors, and employees acting as reinsurance intermediary- producers and any other member, principal, officer, director or controlling party (as defined in § 10-2-902, C.R.S.). Failure to disclose past situations is sufficient cause for revocation of a previously granted license.
3. Evidence of at least five years responsible insurance experience with respect to reinsurance matters acceptable to the Commissioner.
4. Nonresident applicants must complete a form to designate the Commissioner as agent for service of process, with the form available upon request.
5. A sample of the contract to be used by the reinsurance intermediary- producer with the Colorado domestic ceding insurers.
6. Any other pertinent information the Commissioner may request.
7. A nonrefundable fee in the amount of $200.00.
B. Ninety (90) days prior to the month a license is due to be continued the Commissioner shall notify the reinsurance intermediary- producer, at the last known address, of the requirements necessary to continue the license. Any person, firm, association, or corporation applying to continue a reinsurance intermediary- producer license shall submit the following:
1. A properly completed continuation application which has been furnished by the Division of Insurance or its designee.
2. An affidavit acceptable to the Commissioner setting forth any changes from the information that has been previously filed and has occurred within the past two years concerning the firm, association, or corporation officers, directors and employees. Accompanying the affidavit shall be a sample of the current contract being used, highlighting any changes to the original contract entered into between the reinsurance intermediary- producer and the Colorado domestic ceding insurer.
3. Any other pertinent information the Commissioner may request.
4. A nonrefundable fee in the amount of $200.00.

3 CCR 702-1-2-6-4

37 CR 11, June 10, 2014, effective 6/30/2014
37 CR 11, June 10, 2014, effective 7/1/2014
38 CR 09, May 10, 2015, effective 6/1/2015
38 CR 20, October 25, 2015, effective 11/15/2015
40 CR 19, October 10, 2017, effective 11/1/2017
40 CR 21, November 10, 2017, effective 12/1/2017
40 CR 21, November 10, 2017, effective 1/1/2018
41 CR 21, November 10, 2018, effective 12/1/2018
43 CR 21, November 10, 2020, effective 12/1/2020
45 CR 21, November 10, 2022, effective 11/30/2022