State RegulationsCO specificDifficulty 2/5
A Colorado producer receives two separate items from the Division of Insurance: an Examination Request/Comment Form and a written inquiry about a market-conduct matter. Under Colorado Insurance Regulation 1-1-8, what are the response deadlines?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Reg. 1-1-8 requires a complete response to an Examination Request/Comment Form within 10 calendar days, while any other Division of Insurance inquiry must be answered within 20 calendar days. Extensions are possible on written request at the Division's discretion, but the licensee must ask rather than simply let the clock run. The distinction matters in practice because the shorter 10-day window applies to the exam form that documents a producer's examination, and missing it starts the fine clock immediately.
Why the other options are wrong
- B) 20 calendar days is the deadline for other inquiries only; the Examination Request/Comment Form carries the shorter 10-day deadline.
- C) The two deadlines are reversed, and 30 days was the superseded pre-2009 standard that no longer applies under Reg. 1-1-8.
- D) No 45-day response window exists for Division inquiries under Colorado Insurance Regulation 1-1-8.
Memory hook
Exam form is fast — 10 days; other Division mail gets 20.