C.R.S. Section 10-11-109
Unearned premium reserve

(1)

In lieu of those reserves required for other insurance companies, every domestic title insurance company, and every foreign or alien title insurance company which under the state of domicile is not required to maintain a substantially equivalent unearned premium reserve, shall, in addition to other reserves, establish and maintain a reserve to be known as the “unearned premium reserve” for title insurance, which shall, at all times and for all purposes, constitute the unearned portions of premiums due or received and shall be charged as a reserve liability of such title insurance company in determining its financial condition.

(2)

The unearned premium reserve shall be retained and held by such title insurance company for the protection of the policyholders’ interest in policies which have not expired. Except upon liquidation, dissolution, or insolvency, assets equal to the amount of such reserve shall not be subject to distribution among depositors or other creditors or stockholders of such title insurance company until all claims of policyholders or holders of other title insurance contracts or agreements of such title insurance company have been paid in full and all liability on the policies or other title insurance contracts or agreements, whether contingent or actual, has been discharged or lawfully reinsured. Income from the investment of the amount of such reserve shall be the unrestricted property of the title insurance company.

Source: Section 10-11-109 — Unearned premium reserve, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

10‑11‑101
Short title 10‑11‑102
Definitions 10‑11‑103
Compliance with article required 10‑11‑104
Corporate form required 10‑11‑105
Financial requirements prior to this article 10‑11‑106
Determination of insurability required 10‑11‑107
Powers 10‑11‑108
Prohibitions 10‑11‑109
Unearned premium reserve 10‑11‑110
Amount of unearned premium reserve - release 10‑11‑111
Reserve for unpaid losses and loss expense 10‑11‑112
Net retained liability 10‑11‑113
Power to reinsure 10‑11‑114
Legal investments and admitted assets 10‑11‑115
Prior investments 10‑11‑116
Title insurance agents licensed 10‑11‑117
Title insurance agents - certain names prohibited 10‑11‑118
Title insurance - rules 10‑11‑119
Laws applicable 10‑11‑120
Corporate existence preserved 10‑11‑121
Application of article - other laws applicable 10‑11‑122
Title commitments - rules 10‑11‑123
Notification of severed mineral estates 10‑11‑124
Affiliated business arrangements - rules - investigative information shared with division of real estate 10‑11‑125
Fees, salaries, compensation, or other payments 10‑11‑126
Affiliated business arrangements - enforcement - penalties 10‑11‑127
Fiduciary responsibilities of title insurance entities - definition of fiduciary funds - deceptive act or practice - rules 10‑11‑201
Title insurance commission - creation - advisory body - appointment of members - meetings 10‑11‑202
Powers, duties, and functions - recommendations on rules 10‑11‑203
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 10-11-109’s source at colorado​.gov