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Colorado’s new insurance fee enterprise can lower or stop collecting to stay under Proposition 117
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Rocky Mountain Voice, State, Top Stories

Colorado’s new insurance fee enterprise can lower or stop collecting to stay under Proposition 117

By Jen Schumann | Rocky Mountain Voice The signed law says the enterprise will collect less than $100 million in five years. The Legislature's fiscal note puts the figure at $99.6 million. New Colorado enterprises that want to collect more than $100 million in their first five fiscal years have to ask voters first. That's what voters approved in 2020 with Proposition 117. One created this year is projected to collect $99.6 million. The fee that funds it gets cut by more than half after the first year. Premiums grow every year in the state's own projection. The rate drops anyway. Gov. Jared Polis signed SB26-155 into law on June 4. The measure creates the Strengthen Colorado Homes Enterprise within the Division of Insurance and takes effect Aug. 12. Sens. Kyle Mullica...
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Colorado lawmakers say new insurance fees lower costs: Critics say families pay the bill
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Colorado Accountability Project, Approved, Commentary, State

Colorado lawmakers say new insurance fees lower costs: Critics say families pay the bill

By Cory Gaines | Commentary, Colorado Accountability Project Rising homeowners insurance rates have been a hot topic at the capitol this legislative session. I wrote about a couple bills to do so in late April. That newsletter is linked first below. It wasn’t too long after writing about this laser focus on homeowners insurance affordability by our legislature that I finally had a free minute to comparison shop on mine. The picture heading this post is from one of the quotes I got. While the legislators talk a great game about affordability, right there on the quote are two brand spanking new fees they imposed. Let’s look at what they are. The first is a $5.75 (yearly) fee assessed on my insurance: a Colorado FAIR Plan Recoupment Fee. This program — FAIR standin...
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