What must be included in the surplus lines policy according to Colorado law?

In Colorado, it is a legal requirement for surplus lines policies to include a notice stating that the policy is a surplus lines policy. This notice serves multiple purposes: it informs the policyholder that the coverage is being provided by an insurance company that is not licensed in Colorado, but is eligible to offer such coverage under specific conditions laid out in the state's insurance regulations. This notice is critical because it ensures transparency for the insured, making it clear that certain protections and legal avenues available with standard insurance policies might not apply with surplus lines insurance. Therefore, this provision is essential in helping policyholders understand the nature of their coverage, the risks involved, and the limitations associated with obtaining insurance through surplus lines.