Colorado § 10-2-905 - Books and records - reinsurance intermediary-producers.
Full text of Colorado Colorado Revised Statutes § 10-2-905 — Books and records - reinsurance intermediary-producers., with citation guidance and answers to common questions.
§ 10-2-905. Books and records - reinsurance intermediary-producers.
(1) For at least ten years after expiration of each contract of reinsurance transacted by the RP, the RP shall keep a complete record for each transaction showing:
(a) The type of contract, limits, underwriting restrictions, classes, or risks and territory;
(b) The period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation;
(c) The reporting and settlement requirements of balances;
(d) The rate used to compute the reinsurance premium;
(e) The names and addresses of assuming reinsurers;
(f) The rates of all reinsurance commissions, including the commissions on any retrocessions handled by the RP;
(g) Related correspondence and memoranda;
(h) Proof of placement;
(i) Details regarding retrocessions handled by the RP including the identity of retrocessionaires and the percentage of each contract assumed or ceded;
(j) Financial records, including but not limited to premium and loss accounts; and
(k) When the RP procures a reinsurance contract on behalf of a licensed ceding insurer:
(I) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or
(II) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that such reinsurer has delegated binding authority to the representative.
(2) The insurer shall have access and the right to copy and audit all accounts and records maintained by the RP related to its business in a form usable by the insurer.
Source: L. 93: Entire article R&RE, p. 1377, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 10-2-305 as it existed prior to 1993.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-2-905
What does Colorado Revised Statutes § 10-2-905 cover?
Section 10-2-905 ("Books and records - reinsurance intermediary-producers.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 10-2-905?
A common citation format is "Colorado Revised Statutes § 10-2-905" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 10-2-905 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.