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Senate adopts bill creating framework for insurer rebates and adds Division of Insurance oversight
Summary
On March 3, 2025, the Colorado Senate adopted Senate Bill 58, establishing a model-based framework that allows insurers to offer consumer rebates tied to specific incentives and clarifies Division of Insurance authority over pilot approvals and rulemaking.
The Colorado Senate on March 3 adopted Senate Bill 58, a measure to create a framework that allows insurance companies to offer rebates that meet specified criteria while preserving consumer protections. The body approved an amendment (L002) that, by the sponsor's account, aligns the bill with the National Association of Insurance Commissioners (NAIC) model and clarifies the Division of Insurance's rulemaking and pilot-approval authority.
Senator Snyder, the bill sponsor, told colleagues the amendment shifts the bill from…
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