Colorado Approves New Insurance Disclosure Requirements
A new Colorado law requires insurers that provide automobile liability insurance coverage to provide to a claimant within 30 calendar days after receiving a written request from the claimant, a statement setting forth the following information with regard to each known policy of insurance of the named insured, including excess or umbrella insurance:
- The name of the insurer;
- The name of each insured party, as the name appears on the declarations page of the policy;
- The limits of the liability coverage; and
- A copy of the policy.
If the insurer fails to make the disclosure, it can be subject to steep fines.
Accident and insurance law is changing constantly. It is important to have a lawyer that is up to date, and keeps careful track of changes in the law.