3 Colo. Code Regs. § 702-3-1-3-7

Current through Register Vol. 47, No. 24, December 25, 2024

Section 3 CCR 702-3-1-3-7 - Exemption Or Extension

A. The Commissioner may consider a written request for exemption or extension for the filing of the statement of actuarial opinion. Any such request must be made no later than 15 days before the due date of such opinion for which the exemption or extension is sought. Such request must contain a statement which sets forth the basis on which such exemption or extension is sought.

B. Requests for exemptions and extensions will be considered for the following reasons:

1. supervision or conservatorship;

2. financial hardship;

3. nature of insurance;

4. less than $1,000,000 of direct and assumed premium and less than $1,000,000 of direct and assumed loss and loss adjustment expense reserves at year-end;

5. other circumstances that may render an opinion either unnecessary, or unavoidably delayed.

C. In all cases, however, an exception or extension will only be granted after the commissioner has determined that the non-submission or delay of the actuarial opinion would result in minimal potential harm to policyholders.

3 CCR 702-3-1-3-7

37 CR 20, October 25,2014, effective 11/15/2014

37 CR 20, October 25,2014, effective 1/1/2015

37 CR 23, December 10, 2014, effective 1/1/2015

38 CR 17, September 10, 2015, effective 10/1/2015

39 CR 05, March 10, 2016, effective 4/1/2016

39 CR 14, July 25, 2016, effective 8/15/2016

39 CR 23, December 10, 2016, effective 1/1/2017

40 CR 03, February 10, 2017, effective 3/15/2017

40 CR 05, March 10, 2017, effective 4/1/2017

40 CR 13, July 10, 2017, effective 8/1/2017

40 CR 17, September 10, 2017, effective 11/1/2017

43 CR 06, March 25, 2020, effective 4/15/2020

44 CR 03, February 10, 2021, effective 3/15/2021

44 CR 23, December 10, 2021, effective 1/1/2022

46 CR 03, February 10, 2023, effective 3/2/2023