Colorado Protecting Consumers from Unfair Discrimination in Insurance Practices

Yes. Colorado Protecting Consumers from Unfair Discrimination in Insurance Practices addresses Risk Assessment through 1 provision.

Does Colorado Protecting Consumers from Unfair Discrimination in Insurance Practices require Risk Assessment?

Colorado • enforcing

Yes — 1 provision

This regulation imposes 6 specific requirements for Risk Assessment across 1 provision:

Governance framework — Insurers must adopt a governance and risk management framework for ECDIS and for algorithms and predictive models that use ECDIS (Amended Regulation 10-1-1)
Covered lines — Life insurance, private passenger automobile insurance, and health benefit plans, effective 2025-10-15; the 2023 version covered life insurers only
Attestation for non-users — Insurers not using ECDIS or ECDIS-based algorithms or predictive models must file an annual officer attestation to that effect
Progress and compliance reporting — Insurers using covered tools filed a progress report by 2025-12-01 and file an annual compliance report from 2026-07-01
Testing for discrimination — Must test algorithms for unfair discrimination based on protected characteristics
Regulatory demonstration — Must be able to demonstrate compliance to the Commissioner of Insurance

Obligation:

enforcing

Effective:

Jul 6, 2021

Risk tier:

high-risk

Scope:

insurers using algorithms or predictive models

sleeper

Commissioner rules require governance and testing frameworks for algorithmic models used in insurance underwriting and claims.

Requirement	Details
Governance framework	Insurers must adopt a governance and risk management framework for ECDIS and for algorithms and predictive models that use ECDIS (Amended Regulation 10-1-1)
Covered lines	Life insurance, private passenger automobile insurance, and health benefit plans, effective 2025-10-15; the 2023 version covered life insurers only
Attestation for non-users	Insurers not using ECDIS or ECDIS-based algorithms or predictive models must file an annual officer attestation to that effect
Progress and compliance reporting	Insurers using covered tools filed a progress report by 2025-12-01 and file an annual compliance report from 2026-07-01
Testing for discrimination	Must test algorithms for unfair discrimination based on protected characteristics
Regulatory demonstration	Must be able to demonstrate compliance to the Commissioner of Insurance

Violation	Fine
Per violation	Up to $3,000; up to $30,000 per knowing violation

Sources: SB 21-169 Text Colorado DOI — Notice of Adoption, Amended Regulation 10-1-1 (Governance and Risk Management Framework) 3 CCR 702-10-1-1 — Regulation 10-1-1 (codified)