3 Colo. Code Regs. § 702-5-2-12-4
Current through Register Vol. 48, No. 1, January 10, 2025
Section 3 CCR 702-5-2-12-4 - DefinitionsA. "Complying policy" shall have the same meaning as in § 10-4-601(2), C.R.S.B. "Distinct" shall mean, for the purposes of this regulation, a notice sent in accordance with § 10-4-629(2), C.R.S. that is recognizably different from similar policy forms or notices delivered to the insured.C. "Incident" shall mean an event or occurrence that results in an at-fault accident or motor vehicle conviction. An accident resulting in a motor vehicle conviction shall be treated as a single incident.D. "Insured" shall have the same meaning as § 10-4-601(5), C.R.S.E. "Increase in Premium" shall mean, for the purpose of a notice subject to § 10-4-629, C.R.S., other than a general rate increase filed with the Commissioner, the result of an at-fault accident, a motor vehicle conviction or an adverse change in credit information.F. "Motor vehicle conviction" shall mean an adjudication of guilt to a traffic offense, whether based upon a trial resulting in conviction or a plea of guilty or no contest to the original charge or to a reduced charge.G. "Prominently display" shall mean using bold characters, underlining, italicizing, larger font, or some other means of ensuring the information is distinct and easily recognized by the recipient of the document.H. "Quarterly premium payment" shall mean one fourth (1/4) of the gross annual premium plus additional service charges, if any, for policies written for a term of one year or longer, or one half (1/2) of the gross six months premium, plus additional service charges, if any, for policies written for a six-month term.I. "Usage based insurance" shall mean a rating structure that is based, in whole or in part, on the electronic accumulation of data through a device installed in a motor vehicle or through a mobile cellular device in which an individual's daily driving habits are used to determine a premium rate in accordance with a rating plan that has been filed with the Division of Insurance (Division).J. "Week" shall mean any seven (7) consecutive calendar days.38 CR 17, September 10, 2015, effective 10/1/201538 CR 18, September 25, 2015, effective 10/15/201539 CR 01, January 10, 2016, effective 2/1/201639 CR 05, March 10, 2016, effective 4/1/201641 CR 01, January 10, 2018, effective 2/14/201840 CR 21, November 10, 2017, effective 4/1/201841 CR 19, October 10, 2018, effective 11/1/201842 CR 18, September 25, 2019, effective 1/1/202042 CR 23, December 10, 2019, effective 1/1/202044 CR 13, July 10, 2021, effective 6/3/202144 CR 08, April 25, 2021, effective 8/1/202145 CR 03, February 10, 2022, effective 3/2/202245 CR 22, November 25, 2022, effective 12/15/202246 CR 11, June 10, 2023, effective 4/27/2023