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COLORADO
DWELLING PROPERTIES AND PERSONAL &
PREMISES LIABILITY (GL-600) PROGRAMS
Status report on compliance with the Terrorism Risk Insurance Act of 2002 (the Act) and
related state regulatory policies Regarding
"certified" terrorism losses
For an act of terrorism to be certified by the U.S. Secretary of the Treasury (and thus
trigger coverage under the federal terrorism reinsurance program), it must cause more than
$5 million in losses and be inspired, directed, and/or carried out on behalf of a foreign
person or interest.
The applicability of AAIS's Dwelling Properties and Personal/Premises Liability
terrorism endorsements will depend on whether rental properties insured by such policies
are deemed to be commercial insurance for purposes of the federal program. For an
explanation, see Bulletin 03-0142.
| State Name: Colorado |
Posting date: 3/31/03 |
| |
Ed date/
Rev # |
Program |
AAIS effective date |
AAIS
filing # |
Insurance dept. filing #, if any |
| End't |
03 03 |
DP |
4/1/03 |
Filing not required |
|
| |
|
PPL |
4/1/03 |
Filing not required |
|
| Rules |
1.0 |
DP |
4/1/03 |
AAIS-2003-11DP |
|
| |
|
PPL |
4/1/03 |
AAIS-2003-11PPL |
|
| Special company action: With respect to rules, companies
must notify the insurance department of their intent to adopt the manual supplement. The
notification must establish the effective date and include completed form Colorado Form A.
|
| Comments: Forms are not required to be filed in Colorado.
Therefore, AAIS has not filed the endorsement in this state. Companies are not required to
notify the insurance department regarding their use of the endorsement, however, AAIS
recommends that companies keep documentation as to the date upon which they begin using
it. |
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