Prohibits insurers from unfairly discriminating using algorithms and predictive models based on personal attributes. Requires the insurance commissioner to establish rules, conduct investigations, and engage stakeholders. Obligates insurers to demonstrate non-discriminatory use of consumer data.
Analysis summaries, actor details, and coverage mappings were LLM-classified and may contain errors.
This is a binding state statute enacted by the Colorado General Assembly that creates mandatory legal obligations for insurers, establishes enforcement mechanisms through the insurance commissioner, and includes specific compliance requirements with regulatory oversight.
The document has good coverage of approximately 3-4 subdomains, with strong focus on unfair discrimination (1.1), unequal performance across groups (1.3), and governance failure (6.5). Coverage is concentrated in discrimination/toxicity and socioeconomic domains, specifically addressing algorithmic discrimination in insurance practices.
This document primarily governs the Finance and Insurance sector, with comprehensive requirements for insurers using algorithms and predictive models. It applies across multiple insurance types including life, health, property, and casualty insurance, with specific exemptions for title insurance, certain surety bonds, and most commercial insurance policies.
The document primarily addresses the Deploy and Operate and Monitor stages, with some coverage of Build and Use Model and Verify and Validate stages. It focuses on the deployment of algorithms and predictive models in insurance practices and requires ongoing monitoring and risk management frameworks to detect discriminatory impacts.
The document explicitly mentions algorithms and predictive models extensively. It defines these terms and regulates their use in insurance practices. The document focuses on predictive AI rather than generative AI, and does not mention frontier AI, general purpose AI, foundation models, or compute thresholds.
Colorado General Assembly
The document is a state bill enacted by the Colorado General Assembly, which is the legislative body that proposed and passed this law.
Colorado Commissioner of Insurance; Division of Insurance; Department of Regulatory Agencies
The Commissioner of Insurance is granted explicit authority to adopt rules, conduct examinations and investigations, and enforce compliance with the statute's requirements.
Colorado Commissioner of Insurance; Division of Insurance; Department of Regulatory Agencies; Legislative committees of reference
The Commissioner and Division are responsible for ongoing monitoring through risk management frameworks, and must report to legislative committees annually on implementation, rule adoption, rate changes, and stakeholder engagement.
Insurers operating in Colorado (excluding title insurance, certain surety bonds, and most commercial insurance policies)
The law explicitly targets insurers that use external consumer data, algorithms, and predictive models in insurance practices including marketing, underwriting, pricing, utilization management, reimbursement methodologies, and claims management.
4 subdomains (3 Good, 1 Minimal)