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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Unless a person is denied licensure pursuant to section 10-2-801, the division shall issue to a person who has met the requirements of sections 10-2-401 and 10-2-404 an insurance producer license. An insurance producer may receive qualification for a single license to include one or more of the following lines of authority:
(a) “Life”, which means insurance coverage on human lives that:
(I) Shall include benefits of endowment and annuities; and
(II) May include benefits for:
(A) The event of death or dismemberment by accident; and
(B) Disability income;
(b) “Accident and health”, which means insurance coverage for sickness, bodily injury, or accidental death and that may include benefits for disability income;
(c) “Variable life and variable annuity products”, which means insurance coverage provided under variable life insurance contracts and variable annuities;
(d) “Property”, which means insurance coverage for the direct or consequential loss or damage to property of every kind;
(e) “Casualty”, which means insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property;
(f) Repealed by Laws 2012, Ch. 280, § 9, eff. July 1, 2012.
(g) Limited lines credit insurance;
(h) Crop hail;
(i) Title;
(j) Surplus lines;
(k) Travel insurance, as defined in section 10-2-414.5;
(l) Health maintenance organizations (“HMO”); except that no person shall be issued a new license for this individual line of authority on or after January 1, 2002, pursuant to section 10-2-402;
(m) Nonprofits; except that no person shall be issued a new license for this individual line of authority on or after January 1, 2002, pursuant to section 10-2-402;
(n) “Personal lines”, which means property and casualty insurance sold to individuals and families for primarily noncommercial purposes; or
(o) Any other line of insurance permitted under state law or regulation.
(2) Deleted by Laws 2001, Ch. 306, § 14, eff. Jan. 1, 2002.
(3) An insurance producer license for surplus lines may be issued to resident persons pursuant to article 5 of this title.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 10. Insurance § 10-2-407. License--definitions of lines of insurance--authority - last updated January 01, 2025 | https://codes.findlaw.com/co/title-10-insurance/co-rev-st-sect-10-2-407/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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