Colorado Legislative Council Staff
NO FISCAL IMPACT
Sen. J. Johnson
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.