Colo. Senate Democrats: State Sen. Fenberg's Bipartisan Bill to Support Victims of Destructive Wildfires Clears Committee

DENVER, Colorado, April 12 -- The Colorado Senate Democrats issued the following news release on April 11, 2022:

The Senate Business, Labor, and Technology Committee today unanimously advanced Senate President Steve Fenberg (D-Boulder)'s bipartisan legislation to protect Coloradans with wildfire insurance by updating standards to ensure consumers' claims are paid in a timely manner.

Co-sponsored by Senator Bob Rankin (R-Carbondale), HB22-1111 would ensure homeowners displaced by wildfires receive a fair and comprehensive payout for lost property after natural disasters that result in total destruction.

"Destructive wildfires and other natural disasters are unfortunately an increasingly threatening reality for Coloradans," said Fenberg. "As we work to build more resilient communities in anticipation of future disasters, we must update our insurance policies to make these systems easier to navigate. By eliminating barriers to insurance claims and extending the time to rebuild, we are providing Coloradans affected by wildfires with the support they deserve."

HB22-1111 would require insurers to pay disaster victims 65 percent of the value of the contents of their home up front without requiring the victim to do a comprehensive inventory of their personal property. Current law only guarantees 30 percent upfront, creating a burdensome process for many people to claim what they are owed after a deeply traumatizing event. The bill also puts in place several provisions that would streamline the insurance claims process for disaster victims.

The bill now heads to the Appropriations Committee. Track the progress of the bill HERE (https://senatedems.us11.list-manage.com/track/click?u=b1b2e70aeceb6e338b0169101&id=eedb0d26c8&e=2c8e18973d).