Colorado § 8-44-109.5 - Experience modification factor - adjustment.
Full text of Colorado Colorado Revised Statutes § 8-44-109.5 — Experience modification factor - adjustment., with citation guidance and answers to common questions.
§ 8-44-109.5. Experience modification factor - adjustment.
[Editor's note: This section is effective January 1, 2027.]
(1) (a) Each insurance carrier authorized to transact business in this state, including Pinnacol Assurance, that insures an employer against liability for compensation under articles 40 to 47 of this title 8 upon notification by an employer or a licensed insurance producer shall notify the employer's authorized rating organization to revise the employer's experience modification factor to reflect the actual dollar amount paid for a closed claim instead of the actual dollar amount paid plus reserves determined prior to the closure of the claim.
(b) The employer or licensed insurance producer must notify the insurance carrier between the time the claim is reported to a rating bureau and thirty-one days after the employer's rating effective date.
(2) An employer or licensed insurance producer may notify an insurance carrier to modify an experience modification factor pursuant to this section only when:
(a) An open claim is reported by the insurance carrier to the rating bureau with a higher open claim amount than the amount after the claim was closed; and
(b) The lower claim amount would reduce an employer's experience modification factor:
(I) At least .05 compared to the previously released experience modification factor; or
(II) From above 1.0 to 1.0 or below.
(3) The authorized rating organization shall adjust the experience modification factor within thirty days after notification from the insurance carrier pursuant to subsection (1) of this section. The insurance carrier shall credit an employer for a premium change calculated as a result of the updated experience modification factor within the employer's policy period.
Source: L. 2026: Entire section added, (SB 26-175), ch. 312, p. 1834, § 1, effective January 1, 2027.
Editor's note: Section 2(2) of chapter 312 (SB 26-175), Session Laws of Colorado 2026, provides that the act adding this section applies to claims closed on or after January 1, 2027.
Frequently Asked Questions About Colorado § 8-44-109.5
What does Colorado Revised Statutes § 8-44-109.5 cover?
Section 8-44-109.5 ("Experience modification factor - adjustment.") 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 § 8-44-109.5?
A common citation format is "Colorado Revised Statutes § 8-44-109.5" (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 § 8-44-109.5 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.