How frequently must the Colorado Surplus Lines Insurance List be updated?

The Colorado Surplus Lines Insurance List must be updated at least annually to ensure that it reflects the most current information regarding eligible surplus lines insurers. This requirement is vital because the surplus lines market is dynamic, and insurers may enter or exit the market based on changing financial conditions, regulatory changes, or business practices. By updating the list annually, the Colorado Division of Insurance ensures that producers and the public have access to accurate and up-to-date information regarding which insurers are licensed and permitted to provide surplus lines coverage in the state. This practice facilitates informed decision-making by consumers and helps maintain the integrity of the insurance marketplace within Colorado.