BILL SUMMARY for HB13-1062
SENATE COMMITTEE ON JUDICIARY
|Votes: View--> ||Action Taken: |
|Adopt prepared Amendment L.003 (Attachment A). The|
Refer House Bill 13-1062, as amended, to the Commi
|Pass Without Objection|
11:22 AM -- House Bill 13-1062
Senator Kefalas, sponsor, presented House Bill 13-1062. Public adjusters negotiate with insurance companies on behalf of policyholders to settle claims for loss or damage usually on a contingency basis. In Colorado, there are 256 licensed public adjusters that are currently regulated to a limited extent. This bill increases the regulatory authority of the Commissioner of Insurance over public adjusters by adding them to the definition of insurance producers, which makes them subject to license suspension or revocation, as well as ethical standards, continuing education, and financial responsibility requirements. Catastrophic disaster is defined in the bill and a limit on compensation of 10 percent of any insurance settlement or proceeds for public adjusters are specified in the event of a catastrophic disaster.
Senator Kefalas explained his reasons for sponsoring the bill and distributed prepared Amendment L.003 (Attachment A). Committee members previously received a chart concerning public adjusters in Colorado (Attachment B).
The following individuals testified regarding the bill:
11:27 AM -- Ms. Paula Sisneros, representing the Division of Insurance within the Colorado Department of Regulatory Agencies, testified in support of the bill. She provided background on legislation concerning this issue.
11:30 AM -- Ms. Jana Locke, representing the Colorado Department of Public Safety, testified in support of the bill.
Ms. Sisneros responded to questions from Senator Guzman concerning fees for public adjusters.
11:31 AM -- Mr. Scott deLuise, representing the Rocky Mountain Association of Public Insurance Adjusters, testified in support of the bill. He spoke about potential amendments to the bill. He referred to previous testimony concerning complaints related to wildfire damage.
Senator Kefalas provided closing comments in favor of the bill. He explained prepared Amendment L.003.
|TIME: || 11:39:05 AM|
|MOTION:||Refer House Bill 13-1062, as amended, to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 4-0, with one member excused.|
Final YES: 4 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS