Colorado Legislative Council Staff

NO FISCAL IMPACT


Drafting Number:

Prime Sponsor(s):

LLS 98-148

Rep. Swenson

Sen. J. Johnson

Date:

Bill Status:

Fiscal Analyst:

November 18, 1997

House Business Affairs

Will Meyer (866-4976)

 

TITLE:            CONCERNING REQUIREMENTS FOR PERSONAL INJURY PROTECTION COVERAGE POLICIES.



Summary of Assessment


            The provisions of this bill would make changes to the Motor Vehicle (“No Fault”) Insurance statutes. It would require insurers to make available deductibles and coinsurance as coverage options, and require insurers to disclose such options rather than just permitting them to offer such options. This clarifies provisions of current statute.


            These changes would require the Division of Insurance to make an amendment to a current regulation. This would have a minimal impact on the workload of the division. This increase in workload could be absorbed by current staff, but may require re-prioritizing existing workload. This bill would not impact any other agency of the state, or unit of local government. Therefore, this bill is assessed as having no fiscal impact. The bill would become effective July 1, 1998 and would apply to policies issued or renewed on or after said date.



Departments Contacted


            Regulatory Agencies