Section 10-4-1803 - Definitions

As used in this part 18, unless the context otherwise requires:(1) 'Board' means the board of directors of the FAIR plan association created in section 10-4-1805.(2) 'Commercial property insurance' means insurance against direct loss to commercial property, including buildings and building contents, resulting from the perils of fire, perils covered under extended coverage, vandalism, or malicious mischief. 'Commercial property insurance' does not include commercial automobile insurance or farm risks.(3) 'FAIR plan' or 'plan' means the fair access to insurance requirements plan established by the board pursuant to section 10-4-1806.(4) 'FAIR plan association' or 'association' means the fair access to insurance requirements plan association created in section 10-4-1804.(5) 'Member insurer' means any admitted company that offers or sells any property insurance, including commercial property insurance.(6) 'Property insurance' means insurance against direct loss to residential property, including buildings and building contents, resulting from the perils of fire, perils covered under extended coverage, vandalism, or malicious mischief.

ce against direct loss to residential property, including buildings and building contents, resulting from the perils of fire, perils covered under extended coverage, vandalism, or malicious mischief. 'Property insurance' does not include automobile insurance or farm risks.Added by 2023 Ch. 170,§ 1, eff. 8/7/2023.2023 Ch. 170, was passed without a safety clause. See Colo. Const. art. V, § 1(3).