Acts of producers - responsibility of insurer - definitions.

  1. Law
  2. Colorado Revised Statutes
  3. Insurance
  4. Regulation of Insurance Companies
  5. Acts of producers - responsibility of insurer - definitions.

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(1) An insurer authorized to conduct business in this state, who knew or should have known about the unfair business practices of an insurance producer, may be financially responsible for the unfair business practices of the insurance producer, who, while acting on behalf of the insurer, engaged in unfair business practices that violate this title.

(2) As used in this section, "insurance producer" shall have the meaning set forth in section 10-2-103.

Source: L. 2008: Entire section added, p. 586, § 3, effective August 5.

PART 2 FINANCIAL AFFAIRS


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