Commissioner warns of insurance strains; regulators push model transparency and mitigation crediting
Insurance Commissioner Mike Conway told the committee that hail and wildfire have driven underwriting losses and affordability problems; the department has created the FAIR plan and passed HB 1182 to require insurers to credit mitigation and increase model transparency while a proposed reinsurance/grant package (13o2) will return for further work.
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Colorado’s insurance regulator told the Wildfire Matters Review Committee that a combination of hail losses and wildfire exposure has strained the homeowners insurance market and prompted regulatory and legislative action.
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