UPDATED - Notice of Stakeholder Meeting on Bulletin 5.1

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UPDATED - Notice of Stakeholder Meeting on Bulletin 5.1


The Division of Insurance (DOI) is holding a Stakeholder meeting concerning Bulletin B-5.1, Calculation of actual cash value: Prohibition against deducting contractors' overhead and profit from replacement cost where repairs are not made.

In preparation for this meeting attendees should know the following: 

  1. The Division has determined that it will not be repealing this Bulletin.  
  2. The reasons the Division considered repealing this Bulletin were as follows:
  • A widespread misunderstanding of the Division's position on Overhead and Profit (O&P) contained in the bulletin and the limits to the Division’s authority concerning O&P; and,
  • Many complaints are filed with the Division alleging insurers wrongfully deny O&P and use the Bulletin to support their contention that O&P must be paid. 
  1. Through this stakeholder meeting the the Division is seeking input from interested participants on how best to revise the Bulletin to clarify any ambiguity concerning the Division's limited authority regarding O&P and to address the number of complaints received by the Division related to O&P. 

The public stakeholder meeting will be held on May 21st, 2019, from 10:30 AM - 12 PM, at the Division of Insurance offices.

Colorado Division of Insurance
1560 Broadway, Suite 110 D
Denver CO 80202

The public is welcome and invited to attend.

Please do not reply to this email as your response will not be read or forwarded.