HB 21-1063 CO

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Became Law

Federal law preempts the extraterritorial application of state credit for reinsurance law but permits a state to enact reinsurance collateral reforms on an individual basis if the state is accredited. The act enacts a model law adopted by the National Association of Insurance Commissioners (NAIC), which is necessary to maintain the continued accreditation of the Colorado division of insurance with the NAIC and makes Colorado's reinsurance statutes substantially similar to those found in other states. The model law specifies the grounds upon which a domestic insurer can get credit in Colorado for reinsurance provided by an assuming insurer that is domiciled in an extraterritorial jurisdiction and thereby avoids federal preemption that would otherwise occur by 2022.(Note: This summary applies to this bill as enacted.)

• Susan Lontine · primary
• Robert Rodriguez Democratic · primary

1. Apr 19, 2021 Governor Signed · executive
2. Apr 9, 2021 Sent to the Governor · executive
3. Apr 9, 2021 Signed by the President of the Senate · upper
4. Apr 9, 2021 Signed by the Speaker of the House · lower
5. Apr 5, 2021 Senate Third Reading Passed - No Amendments · upper
6. Apr 1, 2021 Senate Second Reading Passed - No Amendments · upper
7. Mar 29, 2021 Senate Committee on Business, Labor, & Technology Refer Unamended to Senate Committee of the Whole · upper
8. Mar 4, 2021 Introduced In Senate - Assigned to Business, Labor, & Technology · upper
9. Mar 2, 2021 House Third Reading Passed - No Amendments · lower
10. Mar 1, 2021 House Second Reading Passed - No Amendments · lower
11. Feb 24, 2021 House Committee on Health & Insurance Refer Unamended to House Committee of the Whole · lower
12. Feb 16, 2021 Introduced In House - Assigned to Health & Insurance · lower

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Signed Act (04/19/2021) · PDF
• Final Act (04/09/2021) · PDF
• Rerevised (04/05/2021) · PDF
• Revised (04/01/2021) · PDF
• Reengrossed (03/02/2021) · PDF
• Engrossed (03/01/2021) · PDF
• Introduced (02/16/2021) · PDF
• Committee Amendment · PDF