Tag: colorado insurance industry

Allstate puts a halt to Colorado Spanish-language insurance sales due to new law

Nordstrom
Insurance sales - Colorado Law

State lawmakers passed a translation requirement leading the insurer to conduct business in English. Allstate will be stopping all insurance sales conducted in Spanish and will do business exclusively in English in Colorado when a new law goes into effect in 2025. House Bill 23-1004 requires insurers to provide consumers with policy documents in the same language as advertising. The law will mean that policy documents provided to consumers will need to be written in the language in which the company advertises. Therefore, if a company advertises in Spanish, the…

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Insurance industry estimates damage of Black Forest Fire at $300 million

Marc
Colorado homeowners insurance industry wildfires

Insurance industry suffers fresh blow from Black Forest Fire A major wildfire has caused significant damage in Colorado. The disaster is being called the Black Forest Fire and was first sparked on June 11. The fire lasted until June 20 and is being considered the worst wildfire in the state’s history. The insurance industry has been working to assess the damage caused by the disaster since the fire had been effectively contained. This week, the Rocky Mountain Insurance Information Association has released a preliminary assessment of the damage caused by…

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Report shows Colorado Division of Insurance plays a vital industry role in the state

OnlineAutoInsurance.com has announced that the insurance regulators for the state of Colorado have released their annual report and that this document points out two critical services performed by the regulators, which are: making company-specific information relating to complaints publically available, and managing those complaints. The report, which was made by the agency to the Colorado Legislature, provides detailed data regarding the number of consumer complaints that have been received by the Division of Insurance, and what those disputes involved. It covered the complaints that occurred from July 2010 through June…

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