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DENVER, CO – The House today passed legislation sponsored by Representatives Michael Carter and Cecelia Espenoza that would ensure Coloradans who request a copy of their insurance policy receive it. HB25-1322 passed the House by a vote of 42 to 20.
“Insurance companies cannot withhold your policy from you, yet many of them are, and it’s causing headaches for consumers,” said Rep. Michael Carter, D-Aurora. “This bill protects consumers by holding insurance companies liable when they don’t share requested policy documents with consumers on time.”
“Whether you’re looking to file a claim after a disaster or just updating your records, Coloradans deserve access to a certified copy of the insurance policies they are paying for,” said Rep. Cecelia Espenoza, D-Denver. “This bill strengthens consumer protections by making sure insurance companies follow through when a customer requests a copy of their insurance policy.”
Under current law, insurance companies are required to provide policyholders with a certified copy of their policy within 30 days of a request. However, some companies are not following through with the request, which means consumers do not receive a copy of their policy when they ask. HB25-1322 ramps up consumer protections by holding insurance companies liable for violating the law.
Under HB25-1322, if insurance companies do not provide documentation within 30 days, they would be held liable for damages and attorney’s fees, including a daily $50 charge for every day past the 30-day window that the consumer does not receive their policy. This bill also clarifies that the consumer's request must be in writing and submitted to the insurance company’s registered agent.