HB 25-1322

House Bill 25-1322, which has been signed into law in Colorado, requires homeowners insurance companies to provide policyholders with a certified copy of their insurance policy upon request. The request must be made in writing and received by the company’s registered agent. If the insurance company fails to comply within the specified timeframe, they face daily penalties starting at $50 per day, plus additional legal fees for the policyholder if necessary. This law affects homeowners who need access to their insurance policies and ensures that insurance companies are held accountable for promptly providing these documents when requested.

Official Summary

The act modifies current law regarding the process by which a policyholder may request a certified copy of their insurance policy (policy) from a homeowners insurance carrier (carrier) and the carrier's duty to comply. The act clarifies that such a request must be in written form and received by the carrier's registered agent (agent) and that the carrier's window of time to make the policy available begins when the agent receives the request. The act also imposes a penalty against a carrier that fails to comply with a policyholder's request for a certified copy of their policy in the amount of $50 per day and authorizes the award of attorney fees and costs for a policyholder's enforcement of the requirement. (Note: This summary applies to this bill as enacted.)

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