The Colorado Department of Regulatory Agencies published a bulletin seeking applicants for the newly created FAIR Plan Association Board. HB23-1288, the Fair Access to Insurance Rates (FAIR) plan was signed into law during the 2023 legislative session and is currently in the final stages of implementation.
The Association will comprise of a nine-member board and must fit the following characteristics:
- Two members representing admitted mutual insurers writing property insurance in Colorado
- Two members representing admitted stock insurers writing property insurance in Colorado
- A member representing a Colorado-based insurance trade organization that represents insurers
- A member representing a Colorado-based insurance trade association that represents independent insurance agents
- An insurance producer licensed to write P&C insurance in Colorado
- Two members representing the interests of consumers and consumer advocacy organizations
The Board has an immediate need for the producer representative but is encouraging applicants for all positions for future openings. Members will be appointed by the Governor. Board terms are for 3 years.
Anyone interested should fill out the application by December 3, 2024.
The bulletin can be found here.