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Senate Finance fails to advance House Bill 1302 on reinsurance funding; bill is postponed indefinitely
Summary
Senate Finance considered House Bill 1302, which would have created a targeted reinsurance program and assessed fees to shore up homeowners and property insurance in high‑risk Colorado areas; the committee rejected a referral to Appropriations and then postponed the bill indefinitely by reverse roll call.
Senate Finance on its final meeting of the session heard debate on House Bill 1302, a proposal to use state-supported reinsurance to limit property-and-casualty premium increases in high-risk areas, but members declined to advance the measure and the bill was postponed indefinitely.
Sponsor Senator Snyder opened the discussion by citing a report the transcript referred to as "C3, the Colorado Competitive Council," saying disaster events and related costs have surged in recent decades. "Annual disaster related costs now range from about $1.7 billion to $4 billion," Snyder said, arguing the state must "get ahead" of escalating premiums.
Snyder described reinsurance as a mechanism that limits insurers'…
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