Colo. Rev. Stat. § 10-3-1607

Sanctions

Colorado · Colorado Revised Statutes Title 10 — Insurance · Status: effective

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Citation: Colo. Rev. Stat. § 10-3-1607, Sanctions, Colorado, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2288043
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Any insurer or insurance group that fails, without just cause, to timely file a CGAD as required in this part 16 shall pay, after notice and a hearing, a penalty of two hundred dollars for each day's delay. The maximum penalty under this section is twenty-five thousand dollars. The commissioner may reduce the penalty if the insurer or insurance group demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer or insurance group.