CO| Bulletin No. B-5.56 from the Colorado Division of Insurance provides guidance to all property insurers, including the FAIR Plan, on the requirement in § 10-4-124, C.R.S., to give applicants and policyholders an annual, plain-language written notice disclosing their property’s wildfire risk score or classification, the insurer’s wildfire risk score range, available wildfire mitigation discounts, and appeal rights. The bulletin clarifies that these notices must be provided for any wildfire risk scoring or classification used to underwrite or price residential property policies (including master policies for multifamily housing), and that insurers may use model forms attached to the bulletin or their own forms as long as all statutory minimum elements are included. It also explains that bulletins reflect the Division’s interpretation and policy guidance and are not themselves binding law, and it references Division consumer services as an additional resource.
Added Attachments
- Attachment D: Annual Notice About Wildfire Risk Characteristics for Underwriting Eligibility Only – for insurers using wildfire risk scores and separate mitigation criteria only for eligibility; discloses the wildfire risk value and range, underwriting characteristics and criteria, mitigation actions that may improve eligibility (but not the score), and appeal rights.
- Attachment A: Annual Notice About Wildfire Mitigation Discounts – explains available parcel-level and community-level mitigation discounts, defines property-specific and community-level mitigation actions, and outlines how to appeal or request review.
- Attachment B: Annual Notice About Wildfire Risk Scores – explains how wildfire risk scores or models affect premiums, discloses the score and score range, factors influencing the score, potential mitigation, and appeal rights.
- Attachment C: Annual Notice About Wildfire Risk Scores for Underwriting Eligibility – for insurers using risk scores, including mitigation, solely to determine eligibility; discloses the score/classification, range, relevant characteristics, mitigation actions that may improve the score, and appeal process.