In both 2020 and 2021 the residents of Colorado experienced severe and catastrophic wildfires causing extensive damage to over 1,500 structures. Because of the magnitude of these damages, the insurance department anticipates the need for extended timelines for homeowners to repair or replace their damaged property, especially as there are labor and material shortages due to the COVID-19 public health emergency.
Therefore the department has issued an emergency regulation effective December 29, 2022 that overrides earlier emergency regulations from January, May, and September. The regulation applies to insurers when a catastrophic disaster has occurred as outlined below.
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