Sate lawmakers are preparing to introduce a bill in the legislature that would create a quasi-governmental program offering basic home insurance to the growing number of Colorado homeowners who say they can’t get coverage from private companies because the risk of wildfire is growing.
Winter is coming. Denver, Colorado recorded its first snowfall of the season yesterday, and frosty hell broke loose on the city’s major thoroughfares. The sudden arrival of icy and wet roads means only one thing.
A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner said.
The United States District Court for the District of Colorado, applying Colorado law, has held that the notice-prejudice rule does not apply to claims-made liability policies where an insured did not merely provide late notice, but failed to provide any notice directly to an insurer.
Owners of some of the most-stolen vehicle makes in Denver are facing more problems after at least one major insurance company says the risk is too high to insure them.
Tesla has expanded its insurance program to Utah and Maryland, taking the total number of states where it is available to 11. Tesla initially launched its insurance program in California in 2019, claiming that it is up to 30 percent cheaper than competing providers.
Craig Plazure and his wife, Morgan, describe themselves as two of the ‘lucky ones’ who were able to buy a home in Colorado in August 2021. But after settling down and having two children, the family is wondering how long they’ll be able to stay in Colorado because of their rising homeowners insurance premiums.
As home insurers abandon California due to devastating wildfires, some worry Colorado could be next. "It’s something we need to be prepared for what the future could look like if we don’t help the market stabilize and keep insurance companies here," said Colorado Insurance Commissioner Mike Conway.
The destruction caused by the largest wildfire burning in the U.S. has been devastating for thousands of residents and their lives have been forever disrupted and altered, New Mexico’s governor said Tuesday after touring the damage in one county.
Victims of Colorado’s wildfires could soon benefit from more assistance from their property insurance companies as the state’s legislature recently approved changes.
A person may only hold insurance companies liable for the denial or delay of payments on a claim, and not individual claims handlers, the Colorado Supreme Court ruled on Monday.
When wildfire struck Grand County, Marjorie Cranston and her husband lost their home of 15 years. The loss was hard enough, Cranston said, without spending months scouring her brain to remember every single item lost in the flames.
Too many houses built too close together on the tinder-dry high plains between Denver and Boulder led to the record Marshall firestorm losses topping $1 billion, insurance industry researchers found this week as they sifted through ashes and charred ruins.
AM Best has warned that demand surge and inflation will amplify losses related to the December 30th, 2021, late-season Marshall Fire in Boulder County, Colorado, which destroyed more than 1,000 structures.
