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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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Lawmakers Debate Fee Based Plan To Cut Insurance Costs With Hail Resistant Roof Grants
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The Colorado Sun, Approved, State

Lawmakers Debate Fee Based Plan To Cut Insurance Costs With Hail Resistant Roof Grants

By Bente Birkeland | The Colorado Sun Colorado insurance premiums have risen 65% in 5 years. Hail storms are mostly to blame. Colorado lawmakers want to impose a per-policy fee on home insurance providers to raise $20 million a year for a program that would provide grants to homeowners to protect their properties against hail. The hope is that the program will protect enough Colorado homes against hail that insurance rates will drop across the state. A similar effort failed last session. In the last five years the average premium in the state has gone up 65%, according to the National Association of Insurance Commissioners. That makes Colorado one of the top-10 most expensive states in the country for homeowners insurance.   Climate exp...
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