CO| The Colorado Amended Regulation 5-2-16 establishes mandatory disclosure and communication requirements for insurers and producers offering or renewing private passenger automobile insurance policies in the state. Effective September 14, 2025, the regulation requires insurers to provide a Summary Disclosure Form in English and, when elected, a Summary Document Form in Spanish outlining coverages, exclusions, and policyholder rights. Insurers must obtain and document explicit consent for any optional coverages that raise premiums and provide clear explanations of purchased products, limits, and how accident fault affects coverage.
Key Points:
- Mandatory Summary Forms: Insurers must provide a standard English disclosure form and, upon request, a Spanish summary document explaining selected/rejected coverages, excluded drivers, and cancellation/premium increase factors.
- Language Selection Requirement: Starting in 2026, insurers must offer a language selection form to policyholders for Spanish forms; if not returned within 60 days, Spanish documentation is not required.
- Restrictions on Optional Coverages: Optional or enhanced coverages cannot be added without the insured’s express consent, which must be clearly documented and retained for at least three years.
CO Amended Regulations 5-2-16