C.R.S. Section 10-2-407
License

  • definitions of lines of insurance
  • authority

(1)

Unless a person is denied licensure pursuant to section 10-2-801, the division shall issue to a person who has met the requirements of sections 10-2-401 and 10-2-404 an insurance producer license. An insurance producer may receive qualification for a single license to include one or more of the following lines of authority:

(a)

“Life”, which means insurance coverage on human lives that:

(I)

Shall include benefits of endowment and annuities; and

(II)

May include benefits for:

(A)

The event of death or dismemberment by accident; and

(B)

Disability income;

(b)

“Accident and health”, which means insurance coverage for sickness, bodily injury, or accidental death and that may include benefits for disability income;

(c)

“Variable life and variable annuity products”, which means insurance coverage provided under variable life insurance contracts and variable annuities;

(d)

“Property”, which means insurance coverage for the direct or consequential loss or damage to property of every kind;

(e)

“Casualty”, which means insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property;

(f)

Repealed.

(g)

Limited lines credit insurance;

(h)

Crop hail;

(i)

Title;

(j)

Surplus lines;

(k)

Travel insurance, as defined in section 10-2-414.5;

(l)

Health maintenance organizations (“HMO”); except that no person shall be issued a new license for this individual line of authority on or after January 1, 2002, pursuant to section 10-2-402;

(m)

Nonprofits; except that no person shall be issued a new license for this individual line of authority on or after January 1, 2002, pursuant to section 10-2-402;

(n)

“Personal lines”, which means property and casualty insurance sold to individuals and families for primarily noncommercial purposes; or

(o)

Any other line of insurance permitted under state law or regulation.
(2)(Deleted by amendment, L. 2001, p. 1199, § 14, effective January 1, 2002.)(3) An insurance producer license for surplus lines may be issued to resident persons pursuant to article 5 of this title.

Source: Section 10-2-407 — License - definitions of lines of insurance - authority, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

10‑2‑101
Short title
10‑2‑102
Scope - applicability
10‑2‑103
Definitions
10‑2‑104
Authority of commissioner - rules
10‑2‑105
Insurance producer - exemptions from definition
10‑2‑201
Prelicensure education - when required
10‑2‑202
Exemption from prelicensure education requirements
10‑2‑203
Course certification, registration, and review by commissioner
10‑2‑301
Continuing education requirement - rules
10‑2‑401
License required
10‑2‑402
License examination requirement
10‑2‑403
Exemption from license examination
10‑2‑404
Application for license
10‑2‑405
Residency - individuals - agencies
10‑2‑406
Licensing of agencies
10‑2‑407
License - definitions of lines of insurance - authority
10‑2‑408
License - contents - continuation due date
10‑2‑409
License - amendment - reissuance
10‑2‑410
Temporary licensing
10‑2‑411
Duplicate license
10‑2‑412
Change of address - notification
10‑2‑413
Fees
10‑2‑414
Additional lines of authority - application for license
10‑2‑414.5
Travel insurance - limited lines license - travel insurance producers - definitions
10‑2‑415.5
Appointment of insurance producer - continuation - renewal - exceptions
10‑2‑415.7
Termination of insurance producer bail bonding agent - notice - penalty
10‑2‑416
Notification to the commissioner of termination
10‑2‑416.5
Required availability to commissioner of list of producer appointees for enforcement purposes
10‑2‑417
Public insurance adjusters - license required - financial responsibility - standards of conduct - rules
10‑2‑418
Bail bonding authority
10‑2‑501
Reciprocity
10‑2‑502
Nonresident licensing - qualification
10‑2‑503
Commissioner as agent for service of process
10‑2‑601
Financial institutions may sell insurance - where - regulation
10‑2‑602
Sale of annuities and insurance by financial institutions - certain tying arrangements prohibited
10‑2‑603
Bank sale of annuities - disclosure requirements
10‑2‑604
Disclosures
10‑2‑605
Misleading advertising
10‑2‑606
Discrimination against affiliated agents
10‑2‑607
Location of sales
10‑2‑701
Assumed names - registration - rules
10‑2‑702
Commissions
10‑2‑704
Fiduciary responsibilities
10‑2‑705
Bail bond documents - requirements - rules
10‑2‑706
Insurance producer designee - responsibility
10‑2‑707
Business practices - price limits - collateral
10‑2‑801
Licenses - denial, suspension, revocation, termination - reporting of actions - definitions
10‑2‑802
Surrender of license
10‑2‑803
Notice of penalty, suspension, termination, revocation, or denial
10‑2‑804
Investigation by commissioner
10‑2‑901
Short title
10‑2‑902
Definitions
10‑2‑903
Licensure
10‑2‑904
Required contract provisions - reinsurance intermediary-producers
10‑2‑905
Books and records - reinsurance intermediary-producers
10‑2‑906
Duties of insurers utilizing the services of a reinsurance intermediary-producer
10‑2‑907
Required contract provisions - reinsurance intermediary-managers
10‑2‑908
Prohibited acts
10‑2‑909
Duties of reinsurers utilizing the services of a reinsurance intermediary-manager
10‑2‑910
Examination authority
10‑2‑911
Penalties and liabilities
10‑2‑912
Rules and regulations
10‑2‑1001
Short title
10‑2‑1002
Definitions
10‑2‑1003
Licensure
10‑2‑1004
Required contract provisions
10‑2‑1005
Duties of insurers
10‑2‑1006
Examination authority
10‑2‑1007
Penalties and liabilities
10‑2‑1008
Rules and regulations
10‑2‑1101
Effective date - applicability
Green check means up to date. Up to date

Current through Fall 2024

§ 10-2-407’s source at colorado​.gov