Colorado Department of Insurance
The Colorado Department of Insurance is the state's regulator of all insurance issues. The DOI is a branch underneath DORA, Colorado's Department of Regulatory Agencies. Their objective is to protect all consumers by regulating the industry as a whole and assisting the public with insurance issues.
Marcy Morrisson is the Commissioner of the Colorado DOI. She has an assistant and a Director of Consumer Education directly below her. The next level of positions includes two Deputies and a Director of External Affairs. The support staff of employees below those positions is crucial to customer care. Employees receive more than 26,000 contacts from customers every year. This includes letters, telephone calls, emails, and consumers that come into the office directly. Complaints and requests for help can be filed online making it easier than ever for customers to receive assistance.
While the responsibilities to regulate Colorado insurance are many, the main objectives are as follows. The Colorado Department of Insurance seeks to resolve consumer complaints and both educate and serve those consumers effectively and in a timely manner. They regulate the state insurance industry adequately in order to maintain a competitive marketplace. The Colorado DOI seeks to facilitate greater choice for consumers by advocating affordable insurance and streamlining the regulatory process. Their last goal is for the management systems of the DOI to run in a way that is both sufficient and productive.
Another duty of the Colorado Department of Insurance is to regulate all of the insurance companies. They provide licensing examinations dealing with market conduct and finance. This ensures that all laws and regulations are being followed and finds violations that need addressing.
Colorado auto insurance, health insurance, life insurance, homeowners insurance and long term care insurance are the main types regulated by the Department. They also deal with title insurance and the bail bond industry. A wealth of information exists on the state website to assist Colorado consumers with decision making and any questions they have. For instance, someone looking for Colorado auto insurance can find out the state's minimum requirements and other mandatory coverage online. They can also compare premiums for auto, homeowners and other insurance types. All reputable insurance carriers will also have that information.
Both revenue and expenditures for 2008 neared $10 million. The majority of money comes into the Colorado DOI from business registrations, taxes, licenses, certifications and inspections. A federal grant and other miscellaneous receipts make up the remainder of the revenue. Most of Colorado insurance money is spent on inspections, examinations, audits, monitoring and enforcement. The other costs come with communication, licensing and administering direct service programs.
The Colorado Division of Insurance (DOI) can be reached at
1560 Broadway, Suite 850
Denver, CO 80202
(303) 894-7499 - Phone