3 Colo. Code Regs. § 702-3-1-1-5

Current through Register Vol. 47, No. 24, December 25, 2024
Section 3 CCR 702-3-1-1-5 - Requirement for Fidelity Coverage

All insurers must obtain fidelity coverage for all officers, directors and employees who have access to, or authorize transactions concerning company funds and investments. The amount of coverage shall be determined in accordance with the following schedule:

Minimum Amounts of Fidelity Insurance

Exposure Index

Bracket No

Amount of Bond

$ 1,000 -

$ 25,000

1

$ 15,000 -

$ 25,000

25,000 -

125,000

2

25,000 -

50,000

125,000 -

250,000

3

50,000 -

75,000

250,000 -

500,000

4

75,000 -

100,000

500,000 -

750,000

5

100,000 -

125,000

750,000 -

1,000,000

6

125,000 -

150,000

1,000,000 -

1,375,000

7

150,000 -

175,000

1,375,000 -

1,750,000

8

175,000 -

200,000

1,750,000 -

2,125,000

9

200,000 -

225,000

2,125,000 -

2,500,000

10

225,000 -

250,000

2,500,000 -

3,325,000

11

250,000 -

300,000

3,325,000 -

4,175,000

12

300,000 -

350,000

4,175,000 -

5,000,000

13

350,000 -

400,000

5,000,000 -

6,075,000

14

400,000 -

450,000

6,075,000 -

7,150,000

15

450,000 -

500,000

7,150,000 -

9,275,000

16

500,000 -

600,000

9,275,000 -

11,425,000

17

600,000 -

700,000

11,425,000 -

15,000,000

18

700,000 -

800,000

15,000,000 -

20,000,000

19

800,000 -

900,000

20,000,000 -

25,000,000

20

900,000 -

1,000,000

25,000,000 -

50,000,000

21

1,000,000 -

1,250,000

50,000,000 -

87,500,000

22

1,250,000 -

1,500,000

87,500,000 -

125,000,000

23

1,500,000 -

1,750,000

125,000,000 -

187,500,000

24

1,750,000 -

2,000,000

187,500,000 -

250,000,000

25

2,000,000 -

2,250,000

250,000,000 -

333,325,000

26

2,250,000 -

2,500,000

333,325,000 -

500,000,000

27

2,500,000 -

3,000,000

500,000,000 -

750,000,000

28

3,000,000 -

3,500,000

750,000,000 -

1,000,000,000

29

3,500,000 -

4,000,000

1,000,000,000 -

1,250,000,000

30

4,000,000 -

4,500,000

1,250,000,000 -

1,500,000,000

31

4,500,000 -

5,000,000

A. Calculation of Exposure Index and Bond Amount
1. Total Admitted Assets: $ ____________________ X 5% =

$ ________________________

2. Gross Income*: $ ____________________ X 10% =

$ _______________________

* - Include gross premium written and assumed plus interest and dividend income.

3. Exposure Index**: $ ________________________ **

** - The Exposure Index amount is calculated by adding the results of Section 5.A.1. and 5.A.2.

B. Minimum Amount of Bond

The minimum amount of bond required is determined by locating the appropriate bracket based upon the calculated Exposure Index as found in Section 5.A.3. above.

Bracket # ______ $ _________________________

3 CCR 702-3-1-1-5

37 CR 20, October 25,2014, effective 11/15/2014
37 CR 20, October 25,2014, effective 1/1/2015
37 CR 23, December 10, 2014, effective 1/1/2015
38 CR 17, September 10, 2015, effective 10/1/2015
39 CR 05, March 10, 2016, effective 4/1/2016
39 CR 14, July 25, 2016, effective 8/15/2016
39 CR 23, December 10, 2016, effective 1/1/2017
40 CR 03, February 10, 2017, effective 3/15/2017
40 CR 05, March 10, 2017, effective 4/1/2017
40 CR 13, July 10, 2017, effective 8/1/2017
40 CR 17, September 10, 2017, effective 11/1/2017
43 CR 06, March 25, 2020, effective 4/15/2020
44 CR 03, February 10, 2021, effective 3/15/2021
44 CR 23, December 10, 2021, effective 1/1/2022
46 CR 03, February 10, 2023, effective 3/2/2023