The Colorado Division of Insurance published a bulletin guiding insurers on the requirement to provide insureds with their property's wildfire risk score, the insurer's wildfire risk score range, and available mitigation discounts, as required by Colorado insurance statutes.
Every insurer in the state that offers property insurance policies is required to provide an annual written notice to policyholders and applicants on the above requirements, and any other wildfire risk classification used by the insurer to price residential insurance policies.
The Division provided a sample notification form in the bulletin that may be used, or insurers can use their own forms, provided it meets the notification requirements.
The bulletin can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.