SB 22-094

Senate Bill 22-094, which has been signed into law, helps people who have property or car insurance by allowing them to get money back for costs they incurred while trying to prove their claim if the insurance company initially denied it and later had to pay out more than originally stated. This applies when a person's claim was either fully denied at first but then paid in full later, or partially denied with an increased payment after further investigation. The law affects anyone who makes claims on property or casualty insurance policies in Colorado. Since the bill has been signed, it is now active and enforceable by law.

Official Summary

The bill entitles a first-party claimant in a property and casualty insurance claim to reimbursement for the reasonable costs incurred to substantiate the claim if the claim was denied, in whole or in part, by the insurer and the first-party claimant then obtains a payment for a claim that was wholly denied or a payment in excess of any initial payment for a claim that was partially denied.(Note: This summary applies to this bill as introduced.)