Colo. Rev. Stat. § 10-4-1605 – Required disclosures - reimbursement insurance policy.

(1) Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale must state that the reimbursement insurance company shall either:
1. (a) Reimburse or pay on behalf of the provider any covered sums the provider is obligated to pay under the service contract; or
2. (b) In the event of the provider's nonperformance, provide the service that the provider must perform according to the terms and conditions of the service contract.

Source: L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 747, § 2, effective January 1, 2015.